Published on 07 Nov 08
In uncertain times, managing capital structure can take on extra importance for companies. This paper explores the tools companies have been using to manage their balance sheet in uncertain times and the financial drivers for using those tools. The paper also covers the taxation implications of using those tools. This includes:
- what the current issues and trends in managing capital are and what forms to use
- when to return capital and in what form
- when are dividend reinvestment plans appropriate.
Andrew is an Executive Director within the Financing Group of Goldman Sachs JB Were, and runs the firm's
capital structure advisory service. Andrew works with the firms corporate client base and advises on appropriate capital structure, credit rating and debt mix, taking into account applicable operating and growth scenarios. Where relevant, the service also includes the implementation of capital management programs including off-market buy-backs. Prior to his current role, Andrew worked in London in a capital structure analysis role, which focused on identifying trading opportunities that existed across traded elements of companies' capital structures.
- Current at
10 March 2010
Simon is a Partner in the Financial Services Tax practice at EY, specialising in banking and capital markets. Simon has 18 years experience advising large corporates on a variety of tax issues, including capital management, capital raisings, mergers, acquisitions, disposals and the application of the tax consolidation regime. He has also advised extensively on the application of the taxation of financial arrangements rules.
- Current at
17 June 2013