Recapitalisation instruments for smaller EU

Transcript:Recapitalisation instruments for smaller EU:
Recapitalisation instruments for smaller EU corporates How equity and hybrid instruments can drive economic recovery September 2022 Our board member firms Patrick George Head of Global Markets EMEA & Global Head of ICG Leonardo Arduini Head of EMEA Markets Jonathan Moore Head of Global Credit Products in EMEA Olivier Osty Head of Global Markets (AFME Vice Chair) Pierre Gay Head of Global Markets Division Guy America Head of Global Credit Markets (AFME Vice Chair) Nick Hughes Head of Capital Markets Nat Tyce Co-Head of Macro Trading Jonathan Peberdy Interim Head of Capital Markets Thalia Chryssikou Co-Head Global Sales Strats & Structuring across FICC and Equities (AFME Chair) Dan Watkins Head of Markets Clearing and Collateral EMEA James Lancaster Wholesale Chief Operating Officer Lionel Bignone Managing Director Co-Head of Global Markets Paolo Crocé Managing Director Head of Global Markets EMEA Gavin Colquhoun EMEA Head of Global Financing & Credit Trading & Co-Head of Investment Bank EMEA Juan Blasco Head of Syndicate and Head of Leveraged Finance EMEA Davide Menini Global Head of Fixed Income Structuring and Structured Notes Trading, Fixed Income Division Gary Prince Global Head of FX & Rates Trading and, Head of Financial Markets EMEA Michael Haize Global Head of Markets Corporate & Investment Banking. Sylvain Cartier Co- Head of Global Markets Activities Vanessa Holtz Head of EU FICC Trading, Co-Head of EMEA FX G10 Trading & Global Head of G10 FX Options (Vanillas & Electronic) Clare Francis Regional Head of Global Banking, Europe and CEO, Standard Chartered UK José Manuel Colina Head of Global Markets Europe and Asia at SCIB Massimo Mocio Deputy Chief of IMI CIB Division - Head of Global Markets & Investment Banking Justin Chapman Executive Vice President – Global Executive Securities Services and Global Head Market Advocacy & Innovation Martine Bond Executive Vice President and Head of State Street Global Markets 8 The relatively low level of bankruptcies in the aftermath of the Covid-19 pandemic could be due in part to the impact of the temporary public support measures put in place. In periods of economic stress or when credit is constrained, it is vital that smaller, unlisted companies and midcaps in the EU with the potential to drive economic growth have access to ample fresh capital to invest in innovation. In January 2021, AFME and PwC published the first recapitalisation report, titled “Recapitalising EU businesses post COVID-19: How equity and hybrid markets instruments