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Banker will focus on the Japanese firm’s ESG-related business
GlobalCapital Asia's Best Structured Finance Deal of 2021 is Bayfront Infrastructure Management's landmark $401.2m multi-tranche infrastructure ABS.
Sunrun, Solar Mosaic to take issuance beyond 2020 record
Timeshare ABS issuers have seen an accelerated recovery in their US business, as pent-up demand for travel translated into higher occupancy rates, according to second quarter earnings calls hosted by the companies this week. Timeshare loan performance has exceeded expectations, allowing those companies to reduce their provision for loan losses on their balance sheets.
A new level of harmonisation and simplicity in financial markets communication is on the horizon, according to supporters of the Common Domain Model — a coding framework that will allow bonds, repos and derivatives to be described in a single format, potentially making processing more efficient and less manual.
Presidio Petroleum closed an inaugural, private securitization backed by oil and gas assets on Wednesday to fund its “acquisition driven” growth strategy. A Morgan Stanley Energy Partners portfolio company, Presidio has been acquiring several oil and gas assets from different energy companies in the past few years.
Strategic Value Partners has closed its fifth special situations fund at its hard cap of $5bn, as it tries to differentiate itself from other distressed debt funds through direct sourcing.
Hightown, a housing association located north of London, has agreed a £100m unsecured green private placement, suggesting a modest growth in appetite for unsecured investment in the sector.
Market participants are getting to grips with the EU’s plans for its Green Bond Standard, released last week. They are finding quirks in it that could help some issuers, discovers Jon Hay, but may make the regulation much more complicated.
Is finance about to break out of the cocoon in which it has pupated for decades, and become a completely different life form?
The European Commission signalled this week that it would extend regulation into many more aspects of sustainable finance, driving an agenda that could change the role of capital markets in society. But although responsible investing experts welcomed it, the complex package of at least 30 measures is likely to provoke a wide variety of reactions, from enthusiastic support to complaints that it is too slow and unambitious, to outright opposition. Jon Hay reports.
How to respond to climate change and environmental sustainability were “of central importance” in the European Central Bank’s review of its monetary policy framework, the ECB said on Thursday as it published the results of the long-awaited review. It has designed a detailed roadmap for incorporating climate considerations across its monetary policy activities, including corporate bond purchases — but environmentalists are likely to be disappointed with the slow pace of reform.
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The European Commission launched on Tuesday a second big wave of regulation that will soon be controlling more aspects of sustainable finance more tightly. There is a tendency to think anything with the word “sustainable” attached to it is good. But capital markets specialists must ask themselves: will the regulations be helpful? -
The European Commission is on the verge of launching its new sustainable finance strategy — the first major fresh initiative since the Sustainable Finance Action Plan of 2018. GlobalCapital has seen a leaked draft, which reveals that the EU will explore whether to create official labels for transition bonds and sustainability-linked bonds, whether to regulate green mortgages, and how to reinforce investors’ responsibility for the effects of their investments.
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Hurricane Energy’s restructuring plan has been thrown out by the High Court, in a victory for shareholders led by activist fund Crystal Amber, which are now poised to replace the board of the troubled oil drilling firm. The judgement underlines the care with which companies must exercise when seeking to use the new ‘cross-class cramdown’ features of the UK’s restructuring law.
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Accusations of greenwashing have been infrequent in the 14 year old green bond market, which mainly sticks to uncontroversial assets, such as renewable energy and railways. The sustainability-linked bond market is only a toddler, but already a much more difficult child. No wonder: it is handling tougher material.
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A lion walks the streets of Rome, an owl shrieks in the marketplace at noon.
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The pace at which central banks are accelerating towards skewing monetary policy to support the fight against climate change was brought home this week by a speech by Isabel Schnabel, an executive board member at the European Central Bank, in which she went further than ever before in calling for strong action and hinted at how the ECB might do it.
