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...The group’s loan-to-value ratio has already crept up above its target of 50 per cent in recent years, according to company documents, as the value of its holdings has been hit by higher interest rates and...
...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...
...The UK used national security powers to intervene in eight deals involving Chinese-linked investment in British companies in the 12 months to March 2023....
...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....
...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....
...BofA’s investment banking revenues rose 35 per cent from a year earlier, generating $1.6bn in fees, or $300mn more than expected....
...Some analysts think falling loan demand from companies will increase the chances of rate cuts in June and at most of the four other remaining ECB meetings this year....
...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....
...Shares of Lithium Americas leapt 12 per cent after the US government announced plans to loan $2.3bn to the company to develop its flagship lithium project in Nevada that will supply the electric car battery...
...That’s because both make floating-rate loans to (mostly) junk-rated companies that aren’t quite big enough to easily tap bond markets....
...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...
...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...
...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...
...Heavier demand for syndicated loans helps investment banks compete with direct lenders on price....
...And in recent years, the securitisation market has become a welcoming home to deals backed by everything from music rights to software companies’ private credit loans....
...senior loans....
...They often maintain a crucial underlying relationship with companies and borrowers....
...The company also raised a $725mn fixed-rate loan with a coupon of 7.63 per cent....
...Apollo Management, Ares Management and Coller Capital are among the firms that have gotten into the private-credit ‘secondary market’ investment game....
...Leverage has been applied ‘downstream’ at the portfolio company level, ‘upstream’ with recourse to GPs and LPs, and ‘midstream’ to the funds that own portfolio companies in the form of NAV loans....
...The company, which levered up when interest rates were low to buy non-performing loans, will get €0.7bn of cash, an equity stake in the new vehicle and a five-year contract to service the assets....
...China’s Everbright Bank missed profit estimates due to investment losses and an increase in cash set aside for souring property loans, sending shares of the regional lender almost 13 per cent lower in Hong...
...The statistics yield clear messages: investment risks in emerging market companies compare favourably with those experienced in other asset classes....
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