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Huge investor group adopts Net Zero goal
The financial markets’ stance on climate change has taken a stride forward as 43 asset managers with $23tr of assets including some of the biggest such as BlackRock and Vanguard have joined the Net Zero Asset Managers’ Initiative. A critical mass of investors is now committed to reducing carbon emissions in their portfolios to zero, meaning that companies can be in no doubt which way they have to go if they want to maximise their potential investor base.
29 Mar 2021 -
Temasek's Azalea returns with Astrea VI
Singapore's Temasek Holdings and its wholly owned Azalea Asset Management sold the fourth iteration of the Astrea collateralised fund obligation (CFO) this week. They raised more than $450m from the institutional portion of the deal, using a tried-and-tested structure.
10 Mar 2021 -
GlobalCapital China announces 2020 awards winners: Part I
GlobalCapital China is pleased to announce the winners of its annual awards, recognising the banks, issuers and individuals that have made the biggest contribution to developing China’s onshore markets. In part one, we reveal the most impressive issuers in the FIG, corporate and SSA categories.
18 Dec 2020 -
China asset-backed notes: it’s time to stand alone
Too many Chinese investors focus on the originator more than the asset pool. That undermines one of the crucial purposes of securitization.
08 Dec 2020 -
China reforms NPL ABS as bad loans rise
The People’s Bank of China has started to allow banks seeking quotas to sell non-performing loan securitizations to shift from the old approval-based system to a registration-based system, onshore bankers told GlobalCapital China this week. The reform is set to speed up the pre-issuance phase and ease banks’ increasing pressure to dispose of bad loans.
17 Sep 2020 -
Mercedes-Benz pierces through comparables in ABS return
Mercedes-Benz Auto Finance scored a tightly priced Rmb6.26bn ($914m) dual tranche auto securitization trade on Tuesday. The senior tranche was priced inside comparable levels, a first for the issuer and a rarity in China's auto ABS market.
09 Sep 2020 -
Mercedes-Benz readies second auto ABS this year
Mercedes-Benz Auto Finance is planning to sell a Rmb6.26bn ($917m) dual tranche auto securitization transaction next week after a six-month break from the onshore market. The issuer has doubled the length of the revolving period compared to its previous outing.
02 Sep 2020 -
Geely returns to auto ABS market for bigger deal
Genius Auto Finance sealed a Rmb4.5bn ($651m) three tranche auto loan securitization trade on Thursday, setting the stage for a steady revival of the Chinese auto ABS market.
21 Aug 2020 -
China's Great Wall Motors sells auto ABS with international ratings
Tianjin Great Wall Binyin Automotive Finance, the funding arm of domestic carmaker Great Wall Motors, sealed its first internationally rated auto securitization deal on Thursday. The Rmb3.37bn ($481m) deal attracted decent demand from foreign investors.
10 Jul 2020 -
BMW sails through market volatility, seals second ABS
BMW Automotive Finance bagged Rmb8bn ($1.14bn) from a three tranche auto loan ABS transaction on Tuesday. The deal was priced tightly despite difficult market conditions in China.
08 Jul 2020
