NOT A DROP TO DRINK

摘要

Corporate treasurers talk dreamily of the halcyon days of 2004 to 2007 when cash seemingly grew on trees and there was an embarrassment of liquidity. Banks were bending over backwards to lend them money and were even prepared to take losses on loans in order to secure lucrative ancillary business down the line. It was the day of the 'covenant light' loan, where margins were non-existent and money was readily available from banks, not just locally, but from across the globe.