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In his four-year stint there, he worked on several debt funding mandates and was also involved in negotiating several large, commercial agreements.
This brief is about the application of the transfer pricing rules where the government provides debt funding for PFI projects.
Buchanan raised nearly $200 million in debt funding from the US Government Overseas Private Investment Corporation.
The aim of the bank was to allow ordinary workers a facility "to provide for themselves against adversity and ill-health", and to provide the government with access to debt funding.
Even if the fixed market turns, it may still be possible for a company to borrow via a convertible carrying a lower coupon than ever would have been possible with straight debt funding.
Problems with Project Merlin and the lack of debt funding available to small and medium-sized enterprises (SMEs) were highlighted by shadow chancellor Ed Balls and shadow treasury minister Chris Leslie.
The majority shareholder of the scheme in 2008 was an Irish private equity group First Equity Group, which owned 70% of Onslow Suffolk with debt funding provided by Allied Irish Bank.
NBN Co's corporate plan estimates it will require A$27.5 billion in Government equity and raise an estimated A$13.4 billion in debt funding without government support, a total funding requirement of A$40.9 billion up to FY2021.