Opinion: Global banks look down market for new business

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Global banks look down market for new business

. The bought deal, initially pitched as a $20-million offering then upsized because of investor demand, earned the two lead dealers and four other banks just $1.1-million.

The paperwork behind the TSX Venture Exchange-listed company’s latest deal also shows the staggering costs that come with developing a world-class lithium mine. By going down market last month to win Frontier’s business, RBC and Goldman are trying to set the stage for future paydays.-rich region 175 kilometres north of Red Lake, Ont.

Developing the PAK project over the next five years means Frontier will make repeated trips to the capital markets, potentially raising more than $1-billion in loans and stock sales. That flurry of financing would wake up any investment banker – it equates to tens of millions of dollars in fees.

 

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I’m sure it’ll be something that genuinely benefits the middle class, whatever it is

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