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...Last month UBS agreed to sell an additional $8bn of loans to Atlas SP as part of a renegotiation of the deal that also scrapped an associated investment management arrangement....
...Details of the loan have not previously been reported....
...While it has a credit card loan book of $137bn, it also has issued a significant volume of auto and commercial loans....
...The lowly valued UK stock market makes a tempting target for private equity buyers. Companies in the throes of a cyclical slump make the choicest morsels of all....
...Over the past three years, the group, helmed by Li Shufu, has overseen the IPO of Volvo Cars, and the de-Spac listings of EV brand Polestar and in-car tech group ECARX....
...The de-risking is obvious: if the banking system, centred on too-big-to-fail money centre banks, is generally reducing their loan-to-value ratios, that’s a good thing. That’s de-risking....
...Mobileum in December failed to make an interest payment on a portion of $540mn in floating-rate term loans....
...Here’s a telling Barclays chart from a great post Alex wrote last week on the ∾ cough ∾ curiously divergent marking of some BDC loans....
...Auto-loan originations in the US hit a record $747bn last year following a brisk 2021, according to data from the Federal Reserve Bank of New York....
...The managers of these capital pools buy up pieces of multiple bank loans, often stemming from private equity deals....
...Private equity firms that buy out companies are taking advantage of a recovery in global corporate bond and loan markets, after the Federal Reserve signalled that inflation had been sufficiently tamed for...
...Last week, it announced it had made a new loan to executive networking company World 50 and while filings show it was already a lender to the company, a person close to Barings described it as a “net new...
...Edward Finley of Arrow Wealth Advisory LLC pointed out that from a certain point of view, the question “does private credit, as an asset class, generate excess return” is a sort of category mistake: An...
...Besides credit card debts, Blackstone has picked up home improvement loans, auto loans and loans financing rooftop solar power....
...For all banks, shadow bank financing now makes up more than 6 per cent of all loans, putting it just above auto loans at 5 per cent, and just below credit cards, which crossed $1tn for the first time just...
...Amer said in its filing that it intended to use the proceeds of any transaction to pay off outstanding shareholder loans....
...“Equities have been on a fantastic run,” he said....
...In July we reported on private equity firms’ use of NAV loans to finance cash distributions to investors....
...New York-listed Blackstone Mortgage Trust, which Blackstone began to manage in 2013 as part of a push to diversify its assets beyond traditional private equity investments, provides loans to commercial real...
...the law firm Clifford Chance.But such deals to de-list companies from the public markets are not always popular with investors in private equity funds or with public equities fund managers who want to back...
...The pick-up in credit card and auto loan distress has been widely noted, and for now both look like a return to the pre-pandemic world. The famous “excess savings” of the Covid-19 era appear exhausted....
...But he later fell out with his cousin Evelyn de Rothschild over the strategic direction of the bank, and struck out on his own in 1980....
...By providing banks with a greater loss-absorbing capacity, CLNs enable institutions to expand the availability and reduce the cost of the mortgage loans, auto loans and other forms of credit on which ordinary...
...The bank also highlights that EU net-debt-to-equity ratios are below the long-term average in general and near trough levels in the natural resources, construction and autos sectors: Stocks might look prohibitively...
...This would also raise the number of public companies — something else de-equitisers fret over for some reason. The true marker of success is shareholder returns, not the equity or firm-count....
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