Archive for July 20th, 2007
Friday Interview with John Honderich
20 July 2007If you’ve ever lived in the Greater Toronto Area, you’ll have heard of this week’s interviewee. John Honderich, C.M. ran Canada’s largest circulation newspaper, The Toronto Star, for as long as I can remember. Currently, he is Chair of the Torstar Voting Trust, the five family group that own the controlling votes of [...]
The end of cheap debt has arrived
20 July 2007I think I’ve made this point countless times by now, but here are just a few facts that demonstrate that the days of cov-lite cheap debt are long, long gone:
- Traders will tell you that the spreads on a generic Canadian Chartered Bank sub debt note have backed up from, say, 40 basis points over [...]