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| Author: | Mokkelbost, P. B. |
| Title: | Financing the new Europe with participating debt. |
| Journal: | Management International Review
1991 : VOL. 31:1, p. 7-18 |
| Index terms: | FOREIGN DEBTS EUROPE, EAST DEBT FINANCING |
| Language: | eng |
| Abstract: | Currently East Europe and the USSR have high financing requirements of their restructuring and modernization for the real sectors. Concurrently, restrictions on foreign travel and purchases are being reduced. This results in a need for large amounts of foreign borrowings. According to senior European bankers, these borrowings are not bankable under usual parameters for bonds and bank loans. A financial instrument is outlined which links the debt obligation with the countries' ability to pay, constituting an ideal financing vehicle for the New Europe. The financial engineering described implicates different forms of arbitrage opportunities. It is shown how some of the financial risks facing joint ventures can be reduced. |
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