CréditAg's $3bn capital deal starts green ABS race

By David Bell, Jon Hay
09 Mar 2017

The revival of banks using securitization to free up regulatory capital could open new possibilities for accelerating the financing of a greener economy, as a ground-breaking deal demonstrated this week, write Jon Hay and David Bell.

Crédit Agricole has concluded a deal with Mariner Investment Group, a New York hedge fund, in which it will free up about 75% of the capital it holds against a $3bn portfolio of 200 infrastructure and project finance loans. A Mariner fund guarantees the roughly 5% first loss ...

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