Secondary debt market arouses suspi

Research focused on the secondary debt market has revealed that while 50% of FTSE-250 finance directors are aware that their debt is being traded, 63% view this negatively. The research has been conducted by Close Brothers Corporate Finance and reveals that while relationship banking is important, 70% of respondents saw debt as a commodity, and as such will follow the most competitive pricing. Contrary to recent speculation that the high levels of liquidity in the market will dry up, 82% of respondents disagree and believe the trend will continue. The Close Brother's survey also showed that 88% of FTSE-250 finance directors feel disadvantaged when pursuing M&A activity, with private equity-backed and privately owned companies able to sustain much higher levels of debt without being listed.

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• UK / Ireland