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Capital Markets

Interest-Only Is Not Repayment-Never

  The first objection to long-dated interest-only capital is that nobody ever repays it. The answer is a reserve, a glidepath and an election made two years early — and the arithmetic is less comfortable than the concept. The Endurance Capital Series, Part Seven  ·  The Dawgen Endurance Capital Framework™   Every conversation about long-dated...

The Covenant That Breaks You in a Downturn

  A leverage covenant can be breached without borrowing a dollar. It breaches because earnings fell — and then it accelerates the obligation at the precise moment the company cannot meet it. The Endurance Capital Series, Part Six  ·  The Dawgen Endurance Capital Framework™   A company has a difficult year. Revenue holds but margin...

Not Everything on the Balance Sheet Is Security

A company with two billion dollars of assets can discover it has seven hundred million of security. The gap is not an accounting error. It is five questions nobody asked. The Endurance Capital Series, Part Four  ·  The Dawgen Endurance Capital Framework™   An owner sits down to list what his company owns, because he...

The Pension Fund Has the Same Problem You Do

One side holds duration it cannot use. The other needs duration it cannot obtain. In this region, they have never been properly introduced. The Endurance Capital Series, Part Three  ·  The Dawgen Endurance Capital Framework™   A pension fund paying benefits in 2050 has an obligation twenty-five years long. To meet it without taking a...

Everything That Left the Business

 A company can cut its dividend by three quarters and still be extracting more than the year before. One number catches it. The covenants in most instruments do not. The Endurance Capital Series, Part Two  ·  The Dawgen Endurance Capital Framework™ A board meets to approve the accounts. The finance director reports that in a...

Are You Bond-Ready? The BEDROCK™ Bond Readiness Index

The series finale — a structured way to measure whether your enterprise is ready to bring an asset-anchored bond Eleven articles ago, this series began with a frustration familiar to every Caribbean enterprise of substance: the gap between the capital such a business deserves and the capital the market actually offers it. We named the...

Where BEDROCK™ Works: Sector Applications for Caribbean Asset-Anchored Bonds

  The appreciating assets that can anchor a Caribbean bond — across tourism, energy, logistics, agriculture, and beyond This series has built an instrument, mapped its demand, and addressed the market that must carry it. One question remains on the supply side, and it is the most concrete of all: where, across the Caribbean economy,...

Deepening the Caribbean Bond Market: Building the Infrastructure for Growth

The market infrastructure that turns individual issues into an asset class — standardisation, ratings, benchmarks, and the regulatory architecture of a deeper market The previous article established that the demand exists: substantial pools of long-dated Caribbean capital, in pension funds and insurers, structurally suited to the asset-anchored bond and largely unable to find it. The...

Kinetics: Managing Asset-Anchored Bonds as Credit Strengthens | BEDROCK™ Framework

Pillar K of the BEDROCK™ Framework: monitoring, revaluation, secondary liquidity, and the optionality of a strengthening credit — the bond in motion There is a temptation, once a bond is placed, to regard the work as finished. The asset was selected, the structure engineered, the disclosures made, the resilience built, the governance installed, the capital...

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https://www.dawgen.global/wp-content/uploads/2023/07/Foo-WLogo.png

Dawgen Global is an integrated multidisciplinary professional service firm in the Caribbean Region. We are integrated as one Regional firm and provide several professional services including: audit,accounting ,tax,IT,Risk, HR,Performance, M&A,corporate recovery and other advisory services

Where to find us?
https://www.dawgen.global/wp-content/uploads/2019/04/img-footer-map.png
Dawgen Social links
Taking seamless key performance indicators offline to maximise the long tail.

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© 2024 Copyright Dawgen Global. All rights reserved.