Remember how all finance companies looked like they were pretty much doomed just a few years ago? That moment has passed. The secured and unsecured credit markets are back for these firms, according to a piece by Henry Sender in today's Financial Times:
Bankers estimate that during this year's third quarter, global financial companies - including deposit-taking banks as well as finance companies - will issue as much as $80bn-$100bn in debt, more than in either of the first two quarters.
"Financial firms have access to debt capital once again," one senior banker said. "I give the speed of CIT in and out of bankruptcy as an example of how quickly credit has recovered."
With regard to most consumer and business assets, the world hasn't changed so drastically and should steadily, though slowly, improve. But with real estate, the market is still tough, since bankers are still trying to figure out how to value it in the new, rapidly changing world we're in today.
Read the full story at the Financial Times.