Running head: IPO DEBT AS A STRATEGY Investment bankers have most of the same characteristics as any other intelligent predator. There is no question that the investment banker would like to see the firm use his firm to raise money for any project that finance it in some other manner. He is clearly interested primarily in fee income generation. That he wants to have the company issue more securities through his firm is a sort of compliment in that he feels that the business is attractive enough to make sale of both debt and equity simultaneously.
The argument that the use of public debt as opposed to leasing or debt generated from some other source, presumably a bank, would make the company look "more aggressive" and hence this would somehow make the firm more attractive is interesting if diff