Hints and tips:
...“If we lend private debt to borrowers in Turkey, we can get gas stations and apartments and shopping malls as uncorrelated collateral to their business yet still get 10 per cent additional yield per annum...
...With its “Dezervator” — a lift that transports residents to their luxury homes without ever leaving their cars — it’s a far more fitting office location for an up-and-coming hedge fund mogul than a pancake...
...Or they want to own their home through an LLC [limited liability company] — maybe a celebrity who wants to keep their identity private,” she says....
...Lenders often issue such notices as a way of calling in an entire loan after a borrower misses a payment....
...The dearth of supply in Europe comes despite the lower interest rates available to borrowers....
...That is not true now, though Mr Moelis believes the biggest banks will be ultimately weakened as their borrowers default. Big and small investment banks share some problems brought by the pandemic....
...Fintechs under pressureA willingness to lend to less reliable borrowers has left Asian fintechs more exposed in an economic downturn caused by coronavirus....
...In the Washington DC suburb of Bethesda is the headquarters of Midcap Financial, which takes money from Apollo clients and lends it to nursing homes, grocery stores and other midsized businesses....
...plays defence as Elliott Management circles (FT) Inter Milan targets global fan base in quest to restore glory (FT) Credit Suisse linked to list of Nazi émigré accounts in Argentina (FT) HSBC sends home...
...Like other businesses, banks are also facing huge logistical obstacles, with their scattered staff either working from home or off sick....
...But over the past couple of years a group of specialist firms has begun to bring the loans back, navigating a dense web of new rules drawn up to protect borrowers and investors in the $9.3tn US home-loan...
...If borrowers default, Fannie and Freddie potentially have to cover big chunks of the losses....
...At SFR, the second-largest telecoms operator in France, adjusted earnings fell 3.2 per cent to €1bn and revenue was down 1.3 per cent to €2.76bn....
...To date, more than $8bn of unsecured consumer loans have been originated through the Prosper platform, mostly for debt consolidation, medical expenses and big home-improvement projects....
...He explained that higher cost of funding was partly behind the bank’s decision to not pass on all of the Reserve Bank of Australia’s 25 basis point cut a fortnight ago to home loan borrowers....
...Of the 77 corporate borrowers that have defaulted so far this year, 54 were based in the US, double the figure last year....
...The agency is also relaxed on China’s junk-rated borrowers, a source of regular worries about access to funding....
...Foxtons is a test case, because its shares and profitability are closely linked with prices and volumes for home sales....
...Apollo’s credit investing arm, which makes up $124bn of its assets, posted a net return of 0.9 per cent in the quarter, which witnessed a shutdown in debt financing markets for buyouts and junk-rated borrowers...
...The largest SFR player is Blackstone’s Invitation Homes which is private....
...Mr Griffiths said that, in contrast to the bank’s existing “super-prime” borrowers, customers who had taken out loans in response to “buy now pay later” offers at Argos were likely to reflect “quite a mix...
...The deal and others like it show credit investors are increasingly demanding that borrowers pare back highly leveraged and covenant-lite structures that were seen in recent years....
...Banks have always been a proxy on economic growth in their home markets. So, as China slows down, demand for credit slows correspondingly....
...Last year it became the first US-based P2P lender to offer home mortgages and also was the first to obtain a credit rating from a major rating agency for a securitised bundle of its student loans....
...The borrower’s home bank may also have a US affiliate that will look more favourably on a loan by virtue of the broader relationship....
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