Third Eye Capital
Tel: (416) 601-2270
Fax: (416) 981-3393
Email Third Eye Capital
Brookfield Place
Bay Wellington Tower
181 Bay Street, Suite 2830
Toronto, Ontario, M5J 2T3
IFRS9 was conceived in the wake of the financial crisis to address criticism of the prevailing impairment model that allowed banks and other lenders to delay recognition of losses. The goal of the new accounting standard is for lenders to have more appropriate levels of...
On November 1, 2017, an accounting asteroid hit the balance sheets of Canadian banks. Although markets have known about this momentous event for years, the reaction has been muted because most participants are underestimating its impact. The metaphorical asteroid, called IFRS9, is a new accounting...
The macroeconomic backdrop of steady, synchronized global growth, low inflation, and ongoing corporate profitability has kept investor optimism high and blue skies for riskier assets like credit. We are in the eighth year of the post-GFC economic recovery, one of the longest expansions on record,...
Ten percent of loans issued in the first half of 2017 to finance M&A transactions had EBITDA multiples of seven times, according to S&P LCD. However, this is understated by the aggressive practice by so many lenders to add-back savings and synergies based on future...
