Abstract
That particular juncture, where shortlisted banks get a feeling that they may be on the right track to qualify as a senior underwriter, also constitutes a very good opportunity to obtain financing on favourable or even aggressive terms. Obviously, there is not much point in seeking this from the firms that have been eliminated after the initial round of submissions. In the event that only oral presentations are included as part of the RFP, reaching out to the banks for such purpose should probably be conducted after about a week to ten days have elapsed and they have had an opportunity to conduct a reasonable amount of work on the investment case and valuation for the issuer.
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Notes
www.reuters.com: Michelle Sierra, ‘Twitter wrapping up $1 billion revolver’, 14 October 2013 and Gerry Shih, ‘Twitter obtains $1 billion credit line on road for IPO’, 22 October 2013.
www.online.wsj.com: Juro Osawa, ‘Alibaba secures $8 billion loan from 9 banks’, 2 May 2013.
www.efinancialnews.com: Matt Turner, ‘Bankers alerted to new IPO tactic’, 18 November 2013.
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© 2014 Philippe Espinasse
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Espinasse, P. (2014). Obtaining Financing. In: IPO Banks. Palgrave Macmillan, London. https://doi.org/10.1057/9781137412942_19
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DOI: https://doi.org/10.1057/9781137412942_19
Publisher Name: Palgrave Macmillan, London
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