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...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...
...There will also be an undisclosed amount of debt financing provided by a group of private lenders including Blackstone Credit, HPS Investment Partners and Blue Owl Capital....
...Last year, it acquired a footprint in credit investments by purchasing Iron Park....
...Warburg Pincus has teamed up with former Credit Suisse chair Sir António Horta-Osório on a €6bn-plus bid by the US private equity firm for Altice’s Portuguese telecoms assets, according to people familiar...
...The deal allowed Credit Suisse to cut its holdings of such assets from $75bn to $20bn. Apollo rebranded the business as Atlas....
...It has expanded into areas such as invoice financing and credit cards, and acquired a business that connects customers with professional contractors....
...UBS put the business up for sale after taking control of Credit Suisse when it collapsed last year. It already has a securities unit in mainland China and cannot hold two licences....
...Friday interview: Armen Panossian Credit markets are booming. Investor demand for public corporate credit seems insatiable and private credit is the asset class of the moment....
...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....
...“Everyone is losing sight of the fact that this market is too big for just private credit or banks.” Additional reporting by Sun Yu...
...The merger would reduce the ranks of the top 10 US credit card companies, leaving fewer options for consumers....
...obliviousness offered by private BDCs and other nontraded private credit vehicles....
...Capital One and Discover are two of the biggest credit card lenders, behind JPMorgan Chase and Citigroup....
...Still, buyers’ remorse often sets in when the credit card bill arrives....
...Moody’s has cut New York Community Bancorp’s credit rating to junk, citing “high governance risks” and the potential for commercial real estate losses to create “confidence sensitivity”....
...But for those in Miami for JPMorgan Chase’s annual credit conference this week, nothing was more enticing than a panel discussion on liability management exercises....
...If you’re the hacker, claim credit: robert.armstrong@ft.com and ethan.wu@ft.com. Value revisited: where are the cheap stocks?...
...In April, it acquired credit manager Iron Park as it expanded into investments benefiting from higher interest rates....
...As big cloud computing vendors, Microsoft, Amazon and Google have also thrown in computing credits instead of cash in some cases....
...The credit business Zito leads includes roughly $461bn of the firm’s investments across structured credit, corporate bonds and loans and private credit....
...Credit Suisse investors want their money back Swiss politicians labelled UBS’s emergency rescue of Credit Suisse the “deal of the century”....
...Argus subsequently grew by acquiring other companies and counts Platts, part of credit rating company S&P, among its competitors....
...“Credit and equity markets are not always correlated, so having a measure of volatility that is [specifically] relevant to credit for additional colour and information that the market can use to manage credit...
...Meanwhile, big money managers nowadays use artificial intelligence to sift through vast data sets such as real-time credit card sales and earnings call transcripts in a never-ending attempt to gain an edge...
...better than rivals who stayed in the sector and suffered as dozens of Chinese developers including Country Garden defaulted on dollar bond payments last year amid plunging home sales and a loss of access to credit...
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