Revisions to the information made available to lenders in takeovers has been agreed. The UK Takeover Panel’s new guidelines follow discussions with the Loan Market Association (LMA) and the London Investment Banking Association (LIBA) on the disclosure of information to potential lenders to a company or other persons involved in a takeover offer subject to the UK’s City Code on Takeovers and Mergers.
Liquidity is still fragile for European corporate issuers according to research by Moody’s. Around 84% of the issuers should have internal and external sources of liquidity to cover the next 12 months’ debt maturities and other cash outflows, but Moody’s says the trend is deteriorating, particularly in the speculative-rating range.
A new qualification, which will provide invaluable skills in treasury management for the public services, is being launched by the ACT and the Chartered Institute of Public Finance and Accountancy (CIPFA).
