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...further into lending and debt investments that are benefiting from higher interest rates....
...JPMorgan Chase spent about a year discussing a possible deal with Discover Financial before Capital One agreed a $35bn bid for the credit card company, as the largest US bank pursued ways to get control...
...Corinthia was publicly launched by Weightman only seven months ago to take advantage of the booming private credit market, which has grown to $1.7tn as many banks retreated from business lending after the...
...Bank of America, the nation’s second-largest lender, said as it reported results on Tuesday that new loan growth stalled in the quarter, with BofA’s chief financial officer Alastair Borthwick calling lending...
...IFR reports that Morgan Stanley is currently marketing its Morgan Stanley Direct Lending Fund at the moment — eyeing a pricing next Tuesday — while Nuveen Churchill Direct Lending Corp is likely too list...
...Citi and Wells Fargo also recorded drops in lending. The pullback in lending hit JPMorgan Chase particularly hard....
...In the interview below (conducted prior to Tuesday’s hot inflation numbers), Panossian discusses the case for high-yield bonds, the changing weather in private credit and why banks are increasingly lending...
...“Private credit typically involves lending to unrated or unlisted companies and is therefore less transparent,” he says....
...Blackstone’s Steve Schwarzman noted last year that lending at 12 per cent on a senior secured basis was easy money. Traditional bank lending, however, retains advantages....
...If you want to include all non-bank lending to the private sector, then you get a figure that is very large indeed!...
...But the direct lending funds they manage may begin to post lower returns, investors said....
...The deal also included an agreement where Atlas would provide investment management services to some of the assets Credit Suisse retained....
...to, other forms of lending such as high-yield bonds,” we wrote....
...Still, buyers’ remorse often sets in when the credit card bill arrives....
...Capital One and Discover are two of the biggest credit card lenders, behind JPMorgan Chase and Citigroup....
...The New York Department of Financial Services also has no registration for BetterMed....
...The UK nonprime lending market — which offers loans to riskier customers with average to low credit scores — has shrunk by more than a third since 2019....
...Capital One’s $35.3bn proposed takeover of Discover Financial Services would fuse two leading credit card lenders and give it control of a network that connects consumers, merchants and banks....
...The IMF’s equivalent, the Poverty Reduction and Growth Trust, has also run down its capital amid unprecedented levels of lending....
...Insurance regulators, for example, have been investigating potential credit rating arbitrage by private capital firms. Here, CLO tranches can get a better credit rating than underlying loans....
...Ant’s bid for Credit Suisse Securities (China) Ltd, which includes investment banking and brokerage services in mainland China, could complicate UBS’s plans to dispose of its stake in the unit....
...That has created an opportunity for people like Connolly and Koester to pitch their investment and lending acumen....
...One adviser to Barings said its lending team had considered spinning the business out, having seen peers make similar moves....
...“Google is a nation-state, and the company is run by bureaucrats.” Pichai admits to challenges caused by Google’s sheer size....
...UBS put the unit, which includes investment banking and brokerage services, up for sale after taking control of Credit Suisse when it collapsed last year....
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