Capital Chronicle is written from Grenoble, France by RJH Adams.

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A brief guide to underwriting rights issues in the UK's banking sector

Posted on June 13, 2008

Client feasted a shade too much on risk with no eye on the collateral? Credit burn? Black hole in the balance sheet?This three step guide to Successful Underwriting may help.Step 1:Keep some noise about the greater good, the necessity to raise capital in an orderly fashion and the dangers of volatility during cash calls. Don't mention why your client needs to beg reluctant shareholders unwilling to take up the rights to do so.Step 2:Have PR call the Financial Services Authority knowing inaction is not an option for them (generally only a choice when it's not too late to take action) and studio...

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