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Varied approaches to the Covid-19 pandemic starting in 2020 paired with the subsequently varied approaches central banks have taken to abate the economic fallout has left traders, in particular those in the emerging and frontier fixed income space, more reliant on their relationships than ever, both internally and externally.
A good example is the 2020 – 2021 period, when SPAC activity went vertical, and plenty of renewable energy companies used SPACs to go public. For example, if a renewable developer wanted to raise debt to build a new offshore wind farm as a separate entity, it would fall under Project Finance.
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