Hints and tips:
...The chief investment officer of US-based Muddy Waters, Carson Block, told the Sohn investment conference in London that there was “a lot of rot in its book”, and that many of the borrowers whose loans make...
...Prices of loans offered to low-rated corporate borrowers have fallen more than 5 per cent and are trading at an average of 93.27 cents on the dollar, levels last seen in November 2020 just before Covid-19...
...For instance, Blackstone envisions a world where corporate borrowers turn to it instead of public markets when issuing debt, cutting out underwriting costs....
...The disparate group of borrowers — ranging from Allen Media to Zhenro Properties — shows just how widespread corporate distress has become in 2022, as central banks have increased rates to tame surging inflation...
...The firm has counted US National Hockey League clubs the St Louis Blues and the Dallas Stars among its borrowers....
...The billionaire’s personal investments include property in Manhattan’s Tribeca district and Long Island restaurants. He also once owned a stake in the Beats headphone brand....
...Both Blackstone and TPG have conceded ground to some of their Reits’ own borrowers, who sought relief from their previously agreed payments....
...Draft regulations by the Communist party would dramatically alter Ant’s business model as a high-tech matchmaker between banks and borrowers, and if the IPO plan returns, it won’t be as colossal....
...Now it has agreed to buy intellectual property management and tech company CPA Global in an all-share deal that values the company at $6.8bn. Clarivate shareholders appear to be in favour....
...One of America’s biggest mall operators, Simon Property Group, has closed all its US properties until March 29....
...This included hotel group Hilton Worldwide Holdings, Warren Buffett’s Berkshire Hathaway, and property group Howard Hughes Corporation....
...US private equity group KKR has agreed its second Greek non-performing loan deal, teaming up with the country’s four main banks to invest in one of their big troubled borrowers....
...Much as property owners buy coverage for fire and other disasters, banks, bondholders and other creditors purchase CDS protection against losses in case a corporate borrower runs into trouble ....
...This seems reasonable under the rules set out in their indentures, which say: The company shall not permit any... lien on any of their respective properties or assets... in order to secure any indebtedness...
...If borrowers default, Fannie and Freddie potentially have to cover big chunks of the losses....
...But that also means the mortgages will mostly run to their full term — an average of 12 years — since borrowers are unlikely to be able to refinance at cheaper rates elsewhere....
...The crash in property values following the financial crisis still haunts the Spanish economy, with loan servicers often having to negotiate new terms on borrowers’ bad debt or recover ownership of the physical...
...Nevertheless, the upside for house prices is expected to be constrained by more stretched house prices to earnings ratios, tighter checking of prospective mortgage borrowers by lenders and the probability...
...Since the financial crisis, home ownership rates have dipped as down payment and credit requirements have pushed would-be borrowers out of the buying market....
...Cerberus is currently being investigated by US authorities over alleged irregular payments relating to a £1.2bn property auction by Ireland’s “bad bank”....
...So we believe defaults should be allowed on a trial basis, based on a small number of troubled borrowers to gauge the market reaction....
...Chinese property companies have been among the most active borrowers in Asian debt markets, raising $41bn in the US dollar and euro bond markets in the past two years, according to Dealogic....
...The rates at which commercial borrowers raise debt over what the US Treasury pays have already started to rise....
...In his most forthright warning yet over the property market, Carney said policy makers “could do more” to tackle excesses if needed… – Bloomberg, May 18 Britain could scale back its Help to Buy mortgage...
...“Deals either need to be completed too quickly for regular lenders, or the borrower has a blip in their credit history, or the property is in the wrong geography.”...
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