BILL REPKO: A Unique View of Restructurings

BILL REPKO: A Unique View of Restructurings

In an interview, Bill Repko, a senior managing director of Evercore Partners' corporate advisory business, talked about his views in corporate restructurings. According to Repko, he thinks that the lender side and the advisory side in large corporate restructurings are both challenging today, b...

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Bibliographic Details
Published in:The Secured Lender Vol. 66; no. 8; p. 42
Main Author: Ocejo, Michele
Format: Trade Publication Article
Language:English
Published: New York Secured Finance Network (SFNet) 01-11-2010
Subjects:
Alliances
Bankruptcy
Bankruptcy reorganization
Business forecasts
Capital markets
Corporate reorganization
Executives
Refinancing
Repko, Bill
United States > US
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Summary:In an interview, Bill Repko, a senior managing director of Evercore Partners' corporate advisory business, talked about his views in corporate restructurings. According to Repko, he thinks that the lender side and the advisory side in large corporate restructurings are both challenging today, but in different ways. On the advisory side, what's generally at stake is trying to keep a company out of Chapter 11 versus finding its way in an organized, effective way. In either case there is a success or failure to the challenge. He said that the default rate has come down from a number in the 12th percentage point range to sort of a run rate of 5% right now. So clearly the level of activity has come down. He said that they have noticed that investment-grade businesses are able to access the capital markets at historically low spreads and rates. That is obviously good. He expects this trend to continue, absent some exogenous event which creates a new period of risk aversion.
ISSN:0888-255X