Article originally appeared in The Banker magazine in December 1999
Several key words and phrases feature prominently in any conversation with investment bankers about the international debt capital markets.
There is the threat of illiquidity, caused by Y2K fears. Although a recent convertible research report from Goldman Sachs argues that 'the consequences of Y2K are likely to be short-lived rather than lasting, the truth of course is that no-one knows what the full impact will be, how long it will last, or what unexpected side effects there might be.
