Taylor Rafferty European Debt IR Benchmarking Study reveals significant upgrade in debt-related investor communications
10 December 2009
The research shows a significant shift in attitudes towards this area from both issuers and investors. In particular:
- Significant upgrade in corporate focus on Debt related IR
- Investor loss of confidence in ratings agencies leads many buy-side firms to develop in-house fixed-income analytical teams
- Senior management increasingly involved in – and being expected to be involved in - debt IR
- Regular non-deal debt roadshows now expected
- Convergence with equity-IR with common messaging and platforms
- Debt-ID a significant potential area for growth
With European corporates experiencing an explosion of debt related questions from both debt and equity investors, and levels of corporate bond issuance in 2009 set to break all previous records, TR’s study reinforces the need for companies to understand, communicate with and service debt investors.
TR conducted interviews with 19 of Europe’s largest bond issuers, who are viewed as thought leaders and a best practice benchmark in the debt arena. Combined, their total debt outstanding totals more than €1 trillion. TR also solicited the views of a number of key debt investors to understand the evolution in buy-side requirements and expectations in light of the current market turmoil. The series of hour-long interviews took place between August and November this year.
A three page summary report containing extracts from the full 60 page report is available for download at: http://www.taylor-rafferty.com/
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