2008 Investors Survey: Top Shops Increase Investments in Challenging Year

November 10, 2008

By all accounts, 2007 opened strongly and issuance was cruising along much as it had for the past three years in the private market. There was high deal flow and high demand. New issue spreads were ratcheting tighter and tighter, so tight that relative value versus publics was becoming a major concern, and covenants continued to be scarce and difficult to obtain.

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