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...This means that in case of a default on the loan, the two Beijing-owned banks could become shareholders of Thames Water. Their pivotal role comes amid tensions over Chinese investment in Britain....
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...Revenues at its investment bank rose 13 per cent to €3bn, driven by a 7 per cent increase in fixed-income trading and a 54 per cent jump in origination and advisory....
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...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...
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...The warning highlights how the strains in US commercial real estate are being felt outside North America, as higher interest rates have made loans more expensive and falling demand for office space has hit...
...“I believe that the survey data today and the implications for investment make four to five sequential rate cuts in 2024 much more likely.”...
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...Banks strike back against private credit The past year and a half has not been kind to investment banks’ syndicated loan departments....
...Ardonagh is owned by Madison Dearborn and HPS Investment Partners....
...In its corporate and investment bank, which BNP has been building up, the deal advisory and financing teams drove a 6.1 per cent rise in “global banking” revenue, echoing a rebound on Wall Street....
...The industry then was dominated by high-risk loan tranches and second-lien lending, and many funds mixed junk bonds and distressed loans into portfolios, whereas today the industry is focused on first-lien...
...A turn in the credit cycle could mean a new flow of non-performing loans, with some signs of weakness in jobs markets and strains in unsecured lending....
...Now, the loans held by BDCs aren’t priced often. And as we’ll see, their prices aren’t necessarily consistent....
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...Brookfield, which manages more than $900bn, and the Qatar Investment Authority, the sovereign wealth fund....
...this important initiative by providing loan portfolio data, focusing on alignment, utility and consistency....
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...However, “repeated and continuing” breaches of contract meant Carlyle could “no longer wait patiently” for the loan’s repayment, the private equity group said....
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