Business
Greensill learns the oldest lesson in finance – The Australian Financial Review
From the outside, it seemed Greensill’s edge was its willingness to lend a lot of money to just a few. As venture capitalist Bill Gurley said, “there’s no industry…
The economics worked in this arrangement.
But lately, financiers have struggled to make sense of certain players in the short-term funding space. This brings us to Greensill, the Anglo-Australian supply chain financing company that has been forced into a firesale after a Credit Suisse fund withdrew its backing.
How did that happen? Greensill was in essence doing something similar to our factoring friends. It was extending financing to suppliers of big corporations such as Telstra, Vodafone and CIMIC…
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