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Liberated issuers will still have to follow European regulations if they want to sell in EU
Public versus private distinction scrapped for disclosure plus new, simplified templates for mature asset classes
Established, well-known corporates could be among the first to use new regime
An accurate picture of liquidity could help London compete for listings
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Reforms to personal bankruptcy regimes in various countries along the lines of the US Chapter 13 code could improve non-performing loan (NPL) markets by boosting transparency and certainty, according to Charles Rusbasan, chief executive of Balbec Capital, which has just raised a new $1.2bn fund to buy NPLs where borrowers are subject to insolvency proceedings, restructuring or other forms of distress. -
The European Systemic Risk Board is recommending that financial institutions do not equity dividends at all this year, so that they maintain high levels of capital. It acknowledged the risk that some firms could otherwise be stigmatised if they decided to restrict distributions amid Covid-19.
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Struggling UK small and medium-sized enterprises could see their debts sold to insurance companies or other institutional investors in a scheme similar to that used to securitize student loans in the country, according to proposals floated by finance lobby group TheCityUK in a report published on Monday.
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The Shanghai Stock Exchange has clarified rules around red-chip companies listing on the Star board, shedding light on some areas that have previously confused bankers in China.
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Travelodge has opted to restructure its debts through a CVA rather than using the UK’s new restructuring framework, shortly to become law. That means landlords are likely to be the losers, rather than bondholders.
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China has opened an asset-backed commercial paper market, announcing new regulations and preparing five trial deals — three of which will be priced by the end of the week. Rebecca Feng reports.
