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Bot claims funding is ‘cheaper than peers who borrow from independent banks or credit funds’
Innovation and ambition have been hallmarks of mergers and acquisitions activity this year, but there are some signs of weakness in private equity
A slow destruction of misallocated investment is more likely than a sudden stop
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Property company China Fortune Land Development has missed payments on Rmb5.255bn ($813m) of onshore debt, adding to concerns about its liquidity condition and access to funding. -
Mongolian Mortgage Corp (MIK), which was forced to pull its dollar bond last month after sudden political upheaval in the country, returned to the market on Monday to raise $250m.
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TCW Asset Management refinanced a CLO issued in 2019 via an applicable margin reset (AMR) auction, becoming the first manager to use the innovative way of refinancing twice.
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AGL Credit Management hired David Preston, the former head of CLO and ABS research team at Wells Fargo Securities laid off by the bank last year. Preston has been appointed on Monday as head of structured credit research at AGL, reporting to CEO and CIO Peter Gleysteen and COO Wynne Comer.
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Leveraged loan repricings are underway, taking a cue from Europe’s CLO market, where a wave of refi and reset activity has broken out with senior tranches now back to pre-pandemic levels.
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Natixis on Monday promoted Peter Cui to head of structured credit syndicate in its European business, replacing Dimitris Papadopoulos who left to run CLO origination and syndication at Credit Suisse in September last year.
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