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...Apollo has sold a stake in the lending business it acquired from Credit Suisse last year shortly before the Swiss bank’s shotgun rescue by UBS, securing a multibillion-dollar investment from one of the US...
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...As part of their claim, the investors have requested the disclosure of documents related to Finma’s decision, as well as Credit Suisse staff bonuses linked to the bonds called contingent capital awards....
...“Last year US credit did outperform — European credit did OK, but not to the same degree,” said Mohit Mittal, chief investment officer of core strategies at Pimco....
...Crédit Agricole’s stance on the company’s refinancing contrasts with the accommodating position often taken by French banks to big corporate clients....
...The crowded corporate credit trade, part 2 Last week I looked at the boom in corporate credit and the accompanying tight credit spreads in high-yield and investment-grade bonds....
...In 2016 it invested in credit investment firm Owl Rock Capital. Now known as Blue Owl Capital, it is among the most prominent lenders in credit markets....
...The 1973-74 inflation and interest rate shock created more profound disintermediation from banks than the rise of private credit today, as investment grade companies switched to borrowing from the market...
...The bank sounded one note of caution on its car financing business Arval — an area where French rivals Société Générale and Crédit Agricole are also big operators — saying used car values were now falling...
...Is corporate credit too crowded? For a gestalt image, start with the Bank of America fund managers’ survey....
...Global banking watchdogs have been working together since the 2008 crisis to make sure the biggest cross-border banks have credible resolution plans, known as living wills....
...French lender Crédit Agricole has taken a 7 per cent stake in payments group Worldline as part of a “strategic partnership” aimed at building a joint venture in merchant payments this year....
...Private-credit funds are on track for their outright decline in gross capital distributions for the first time since 2020, the bank points out: As Barclays puts it: In our view, the suppression in private...
...As well as reflecting our expectations of the future, financial market prices can change it. Tighter spreads made possible by investors’ allocations have reduced the cost of credit....
...Banks strike back against private credit The past year and a half has not been kind to investment banks’ syndicated loan departments....
...The bank is specifically focusing on private credit as one of its major engines of growth....
...French lender Crédit Agricole has taken a 7 per cent stake in payments group Worldline as part of a “strategic partnership” with the aim of building a joint venture in merchant payments this year....
...An aborted investment last year in Cotiviti was initially to be funded by direct lenders, as ructions in public markets pushed banks to the sidelines....
...But in exchange, they swapped existing loans worth more than $400mn into a senior priority position — known as an “uptier exchange” — seizing the senior claim on Robertshaw’s collateral and leaving behind...
...Its investment bank slumped to a loss of $169mn in the period, which the lender said was mainly down to the costs of consolidating Credit Suisse’s business....
...The big financing packages that typically back billion-dollar leveraged buyouts are known as “broadly syndicated loans”....
...Ermotti’s award comes as the bank’s bonus pool shrank 14 per cent compared with the combined pool at UBS and Credit Suisse in 2022....
...Banks such as Nomura, which owns a minority stake in Corinthia, have sought to build their own private credit fund businesses as they have watched fund managers including Ares, HPS Investment Partners, Sixth...
...France’s second-biggest bank by market value said its investment bank had its best quarter, and it performed particularly well compared to rivals, including on Wall Street, in fixed income trading....
...Man Group acquired the firm in 2010 and its division has until now been known as Man GLG....
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