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GC Asia
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Rhode Island pension fund backs Sycamore Tree and Neuberger for CLOs
Rhode Island Employees' Retirement System has allocated $250m to Sycamore Tree and Neuberger Berman to invest in CLO equity and mezzanine tranches, following a new strategy that targets CLOs rather than real estate investment trusts (Reits) and master limited partnership (MLPs).
21 Jun 2021 -
Santander said to be among banks targeting first synthetic STS deals
European banks are rushing to finalise the first synthetic ABS transaction to achieve a ‘simple, transparent and standardised’ (STS) verification. The debut deal, which marks a turning point for the significant risk transfer market, has already been signed and is set to arrive in the coming months.
21 Jun 2021 -
China’s first public Reits rise on debut
The first batch of nine public infrastructure real estate investment trust (Reits) in China made their trading debuts on Monday to a strong showing from investors.
21 Jun 2021 -
The week in review: China keeps June LPR steady, Nafmii targets two bond underwriters
In this round-up, the Chinese central bank leaves the benchmark lending rate stable for the 14th consecutive month in June, and the interbank bond regulator issues a warning to an onshore bank and accuses another of allegedly breaking underwriting rules.
21 Jun 2021 -
Commission reinstates eight of 10 banned banks in time for NGEU sophomore outing
The EU Commission confirmed on Friday that eight of the 10 banks it had suspended from its Next Generation EU syndications will be able to participate after all, having completed the remedial action required by the Commission.
18 Jun 2021 -
China policy and markets round-up: May economic activity weaker than expected, Beijing tightens grip on after-school tutoring, Huarong AMC to sell stakes in seven units
In this round-up, the major indicators for economic activity in China disappoint, the after-school tutoring sector in the Mainland faces a clampdown, and indebted China Huarong Asset Management Co is reportedly looking to raise cash by offloading its holding in seven different units.
18 Jun 2021 -
ECB’s Schnabel hints at shape of green QE
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.
17 Jun 2021 -
EU syndication ban on banks ‘unfair’ and ‘arbitrary’
Senior SSA bond market participants have condemned the European Commission’s decision to temporarily exclude 10 of its primary dealers from the Next Generation EU syndication programme due to breaches of European antitrust rules. The Commission’s actions have also raised fears that other European borrowers could follow suit.
17 Jun 2021 -
People and markets news in brief: June 17, 2021
Deutsche hires for China team - UniCredit names Korea coverage head - Credit Suisse promotes two in PB team - China hones in on green finance
17 Jun 2021 -
Generali markets first green cat bond
Generali is marketing the first green catastrophe bond, a €200m deal called Lion Re III laying off European windstorm and Italian earthquake risk. The structure takes its cue from the growing ESG risk transfer market for banks, which enhances the green impact of a given deal by recycling not just the funding received but the capital saved into green assets.
16 Jun 2021
