The spark set to ignite Canada’s next big corporate credit shakeout looms as companies pile on too much debt

  • 📰 nationalpost
  • ⏱ Reading Time:
  • 34 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 17%
  • Publisher: 80%

Business News News

Business Business Latest News,Business Business Headlines

‘Cheap loans, high leverage and an abundance of capital really for the last decade is the gasoline’

Infor Financial Group Inc., an independent investment bank advising on cannabis and mining deals, is preparing for a major shakeout in corporate credit as Canadian companies pile on too much debt.

Weakness AppearsPotential cracks have started to show. Toronto-Dominion Bank and Canadian Imperial Bank of Commerce, the country’s second and fifth largest banks, bolstered provisions in the last fiscal quarter, citing a rise in corporate arrears among the reasons. Business Ramp UpInfor is getting ready — it’s hired veteran restructuring expert Paul Liebovitz, who is already advising publicly listed companies in the renegotiation of their debt facilities, Selfe said, declining to provide the name of the firm. Infor is also turning to pension funds and insurance companies to fund debtor-in-possession loans, a type of credit for distressed companies, said Selfe.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 10. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Gap Canada stores to be included in North American closures: parent companyThe parent company of retailer Gap says it will close some stores in Canada as part of a global plan to shutter almost half of the brand's locations over the next two years.
Source: CTVNews - 🏆 1. / 99 Read more »

Drug company that makes OxyContin considering bankruptcy as wave of litigation threatens to rival Big Tobacco’sAccused of contributing to the deadly opioid crisis sweeping the continent Big Pharma going down? Oh ya and here’s An signing it’s own death certificate jumping into weed heavily while claiming bank Ruptly only Media’s jumping jack flash dropping blues clues children’s Bayer A silver linings play book of Herbal remedies human reject Canada’s refugees What’s causes cancer is suddenly doing a Von trap family day adieu Waters Costs begins prostatectomy cancers a chemo
Source: nationalpost - 🏆 10. / 80 Read more »

How foreign companies use Canada’s universities to steal away huge chunks of intellectual propertyInnovation Nation: Lax rules around university R&D programs are doing more to benefit foreign multinationals than Canada No. Canada's universities are discouraging true intellects to protect companies from innovation.
Source: nationalpost - 🏆 10. / 80 Read more »