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...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....
...The case centred on alleged financial assistance the bank gave to Qatar through a $3bn loan for acquiring shares directly or indirectly in a Barclays fundraising....
...Separately, it paid a $25mn penalty to the CFPB related to private student loan servicing practices. “Capital One is a healthy, well-managed, well-capitalised bank....
...The New York-based securitised products business packages debts, such as mortgages and loans for yachts, before selling them on as securities....
...Because such loans attract interest at floating rates, their value does not mechanically fall as rates rise — but that may not help much if overleveraged companies struggle to meet the rising cost of servicing...
...He quickly established himself as a major financial player by servicing the state....
...However, he added that some of those jobs servicing the EU would be based outside the region in low-cost countries....
...And that’s a saving grace for our industry,” said Iata’s Owens Thomsen....
...Davidson Kempner will also acquire an 80 per cent stake in Alpha Bank’s loan servicing subsidiary, Cepal Holdings....
...Executives are also reviewing the circumstances of a $140m bridging loan provided to Greensill last November....
...Sweden’s Verisure has tapped in to that scramble among investors to raise €4.4bn of new bonds and loans....
...The bank booked €1.5bn of loan loss provisions after holding back €1.4bn in the first quarter....
...Last year brought BNP’s takeover of Deutsche’s $200bn prime brokerage business, part of a plan to become a top-three player in the potentially lucrative but risky business of servicing hedge funds....
...Go deeper with the FT’s Owen Walker and Stephen Morris here. Teladoc bets big on Livongo Hindsight is a wonderful thing....
...The cost of servicing £350m of new debt, raised in October with a record 9.5 per cent coupon, means Metro is not expected to return to profit until 2021....
...On top of high-yield bonds and leveraged loans that equate to 6.9 times adjusted earnings, there could be an extra slice of financing known as payment-in-kind (PIK) debt, which is higher-risk because the...
...David Owen, MD and chief European economist at Jefferies: No....
...As of Wednesday nearly 30m shares, or 6.5 per cent of Jupiter’s outstanding shares, were out on loan — a good indicator of short interest....
...Other creditors of Venezuela are also waiting in the wings, including Canadian mining company Crystallex, US oil major ConocoPhillips and US glassmaker Owens-Illinois....
...This week ING also said it had developed a “sustainability improvement derivative” (Sid) for SBM Offshore, a Dutch servicing business for the offshore energy industry....
...The cost of servicing subscription lines can run into millions of pounds, which can reduce final returns for investors....
...In Spain and other countries with high levels of non-performing loans, private equity firms have bought servicing platforms, providing them with data and insights into the lending process....
...The issues emerged in the aftermath of a spike in loan defaults that transpired during a time in which it had transferred servicing functions to a third party....
...LendUp required customers to take out both a payday loan and an installment loan. Both lending laws prohibit conditioning the provision of a loan on the customer buying other goods or services....
...The composition of Lending Club’s loan servicing portfolio was assumed not to change, with servicing revenues moving in step with loan originations....
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