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Sunday, April 18, 2021

Cit bankers make a living (for once) as companies seek funds

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T

o Which business do you prefer to lend money, the overseas vacation giant or the online shopping genius?

That you know the answer right away tells us a lot.

Is it the price for your money? Between 4.5% and 5%, a juicy return almost anytime and certainly tasty when Bank of England interest rates are 0.1%.

The highest coupon depends on the risk. TUI admits that lending him money is risky. The cash will be used to “improve its liquidity position” and repay “existing financial instruments”.

It is perhaps the societal role of bankers in a crisis which, for once, is not of their own initiative.

We need innovative and less expensive ways of getting money to companies like TUI, whose difficulties are probably only temporary.

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