European corporates scramble for alternative credit sources
Credit lines with traditional bank counterparties exhausted since dollar rally against euro
Some European corporates are searching for new sources of credit and looking to lock in protection against future currency movements, having exhausted their existing credit lines with traditional banking counterparties.
“We monitor our financial counterparty credit risk every day, and the dollar situation has stretched our credit limits,” says Urs Berger, assistant treasurer at Takeda, a Japanese multinational pharmaceutical company, based in Switzerland.
The challenge has been particularly
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