We’re hopefully nearing halfway in the COVID-19 lockdown, and our team has been busy talking to a wide range of borrowers and bankers about debt funding issues. Key features of these recent conversations are summarized below.
1. Many businesses are working on their immediate survival by focusing on short term cashflows. Some are negotiating commercial rent reductions, and landlords appear generally as accommodating as they can be, all things considered. Some are claiming wage subsidies from the Government, greatly appreciating the simple application process and quick turnaround in payments. All businesses are closely reviewing their ability to reduce operating expenses and where possible, some are swiftly adapting and boosting their online operations.
As part of its commitment to release capital to its shareholder, Christchurch...
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