Taylor Rafferty European Debt IR Benchmarking Study Reveals Significant Upgrade in Debt-Related Investor Communications
Thursday, December 10, 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 this vital investor base.
In this first in-depth study of changing attitudes in this area, 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.
“Our ongoing provision of advice on debt investor relations throws into relief large discrepancies; both the expectations of the investors and the behaviour of the issuers - one size does not fit all. However, it is clear that addressing this audience in a systematic and timely manner is essential.” said Rob Newman, Managing Director of Taylor Rafferty (Europe).
A three page summary report containing extracts from the full 60 page report will be available for download at: http://www.taylor-rafferty.com/
Download a three page summary report containing extracts from the full 60 page report.
For further information contact:
Rob Newman
Tel: +44 (0)20 7614 2900
About Taylor Rafferty (Europe) LTD.
TR is the world’s leading specialist IR consultancy with nearly thirty years’ experience of supporting our clients’ capital markets ambitions. With offices in London, New York, Hong Kong, Tokyo and Manila we are the only independent IR consultancy with truly global intelligence gathering and execution capabilities. The firm counsels more than 100 active global clients and has recently responded to the growing need amongst our clients to gain control over their debt holder relationships through a proactive and direct communications programme. For more information, visit us at www.taylor-rafferty.com. TR is part of King Worldwide www.king-worldwide.com, the world’s leading global Financial Communications and Stakeholder Management firm. Europe’s fastest-growing financial communications consultancy M:Communications, the top-ranked Nordic investor relations and online communications firm Hallvarsson & Halvarsson, the alternative asset investor and media relations consultancy Broadgate Consultants, the premier capital markets intelligence company Capital Precision, the leading proxy solicitation company D. F. King & Co. and bankruptcy specialist Donlin, Recano and Company are also King Worldwide companies.