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

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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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