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...The group had already agreed about £930mn of debt deals in the past year, with lenders including Citi, Standard Chartered, Starwood and CBRE Investment Management....
...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....
...The Beijing-based Asian Infrastructure Investment Bank is in talks to provide a second loan guarantee deal to the World Bank, a move that would deepen the lenders’ partnership and allow the Washington-based...
...A quick refresher for readers who aren’t finance sickos like us: Collateralised loan obligations are one of those fun investment vehicles that bundles junk-rated loans, packages them into a new security...
..., which Lithium Americas says is the US’s largest, will help to reduce the US auto industry’s reliance on China for the EV battery material when it begins producing in 2027.GM announced a record $650mn investment...
...When Invesco bought the largest chunk of $620mn of apparently low-risk loans issued by heater and air conditioner parts maker Robertshaw in 2018, it seemed just like many investments the US asset manager...
...Deutsche is bracing for Postbank-related loan losses of €40mn and warned that some of the hit “may be permanent” as the impaired loans may not be recovered....
...Private equity-owned German real estate lender Aareal Bank warned there was “more to come” after one in four of its US office loans went into default last year....
...Investment bankers from the likes of Barclays, BNP Paribas and Morgan Stanley are shepherding the deal through the market, while Canadian ratings agency DBRS has provisionally awarded the top tranche of...
...A large part of syndicated-loan demand is driven by collateralised loan obligations, which have big portfolios of loans whose diversification is meant to protect against losses....
...BofA’s investment banking revenues rose 35 per cent from a year earlier, generating $1.6bn in fees, or $300mn more than expected....
...UBS has agreed to sell $8bn worth of loans to private capital group Apollo as part of a renegotiated deal to hive off a Credit Suisse business that securitised loans for assets such as yachts....
...Economists said the fall in borrowing, which reflected lower investment plans, meant the region’s economy was likely to continue stagnating....
...Heavier demand for syndicated loans helps investment banks compete with direct lenders on price....
...“There have been fewer LBOs and therefore less new loan volume,” said Michael Patterson, a governing partner at asset manager HPS Investment Partners....
...Those gains are now feeding through to French lenders as they make new loans, though BNP’s personal and commercial banking revenues in France were held back by inflation hedges that are expected to disappear...
...But Intrum’s struggles highlight that bad debts have not been a good investment for public markets in recent years. Intrum shares are trading close to 15-year lows; they fell 6 per cent on Tuesday....
...senior loans....
...They operate under the same US regulatory umbrella as real estate investment trusts, meaning they have to pay out 90 per cent of their earnings to shareholders....
...Apollo Management, Ares Management and Coller Capital are among the firms that have gotten into the private-credit ‘secondary market’ investment game....
...Brookfield, which manages more than $900bn, and the Qatar Investment Authority, the sovereign wealth fund....
...Carlyle could yet become the outright owner of LSA if Esken were unable to repay the almost £200mn loan....
...The managers of these capital pools buy up pieces of multiple bank loans, often stemming from private equity deals....
...Some insurance and pension companies have significantly expanded their investments in private credit and other illiquid investments....
...This article has been amended to reflect that shareholder loans to Tideway total £836mn...
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