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Partner has joined Clifford Chance from the newly merged rival magic circle law firm
MAG’s tightly priced bond adds credence to claims that Thames Water’s woes are isolated
Junior notes are on negative outlook but pub revenues are rising
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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.
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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.
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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.
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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.
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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.
