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...The bank also bought most of failed US lender First Republic last year....
...Public records show that the Delaware-registered entity Son used to buy the property, SV Projects LLC, mortgaged the house to secure a ¥10bn loan — worth $92mn at the time — from Japanese bank Mizuho to...
...All the while, the tower was starved of investment. Burton Resnick, another developer, bought it in 1989 for $77mn, and — with a $50mn loan from Citicorp — began renovations. But it was a disaster....
...And frankly, the leverage, measured by total debt to ebitda, in high-yield bonds is lower than leverage in first-lien loans [the highest quality]....
...The Palmer Square Capital BDC is the first of a bunch of BDC IPOs in the pipeline, helped by the ravenous demand for non-bank “private credit” that Alphaville has discussed ad nauseam....
...It has emphasised its technology prowess in building a digital-first bank. While it has a credit card loan book of $137bn, it also has issued a significant volume of auto and commercial loans....
...Its revenues in the first nine months of 2023 were up 30 per cent to $3.1bn, although losses in the period widened from $104mn to $114mn....
...First, US risk assets are relatively insulated from the Chinese economy....
...Bloomberg first reported Ant’s bid....
...Mobileum in December failed to make an interest payment on a portion of $540mn in floating-rate term loans....
...Dubai-based property developer Damac plans to buy London office space for the first time in a bet the struggling market will bounce back....
...Investec has hired First Republic Bank’s Olivia Deroy for an origination and relationship management role on its new US private equity team, based in New York....
...It ultimately turned to Goldman Sachs for the NAV loan and used those proceeds to pay off the junior loan....
...The Apollo proposal also featured a “roll-up” component that would have given Apollo’s earlier $500mn secured loan to Yellow “superpriority” status alongside the DIP loan, putting it first in line for repayment...
...We at Alphaville Towers are suckers for investment firms talk about good vintages....
...The volume of buyouts — which have traditionally fuelled junk debt markets — has more than halved, with $418bn in deal volumes in the first half of 2023, compared with $1tn in the first half of 2022, according...
...very worst outcome in the civil fraud case, the “corporate death penalty” of an order for his existing businesses to be dissolved, which could have forced a fire sale of prized assets such as the Trump Tower...
...Owner Pham Nhat Vuong, Vietnam’s richest man, earlier this year pledged to provide $2.5bn to the company through grants and loans to help the business increase production....
...Southwark has developed a scheme of loans and grants to provide incentives for private owners to rent out empty properties, but the programme remains small....
...What forces reality on the market is when loans come due, or covenants on loans are breached. Owners will try to discreetly cut deals with their lenders or privately sell some assets to raise cash....
...Read the FT Big Read first though, it’s worth it just to see Ken Griffin (!) calling the multi-manager top....
...Who Savills Find out about our latest stories first — follow @FTProperty on X or @ft_houseandhome on Instagram...
...One way that has come is in the form of great deals on loan portfolios, as lenders look to boost their liquidity after the turmoil at First Republic and Silicon Valley Bank....
...Pan Gongsheng, governor of the PBoC, said in January that growth rates for green loans, short-term technology loans, and long-term manufacturing loans significantly outpaced overall lending growth in 2023...
...At home Vuong invested in property — his first project was a resort called Vinpearl — and went on to develop everything from office towers and shopping malls to housing projects....
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