Now corporates have changed their tune. This summer, Casino, the French grocer, pioneered credit spread warrants with Dresdner Kleinwort Wasserstein. Now a handful of bankers report that their corporate clients are beginning to use credit derivatives to hedge against spread widening on future issues. Most agree this kind of use is on a small scale, but expect this section of the market to develop further in 2005.
Corporates that have spent the past few years cleaning up their balance sheets
The week on Risk.net, July 7-13, 2018Receive this by email