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China Oilfield Services (COSL) sold its first dollar bond in five years on Thursday, nabbing $800m from a dual-tranche deal.

Kenneth Lee, a veteran in Asia’s bond market, has left Natixis to take a new job at Mizuho.

Taiyuan Longcheng Development Investment Group Co, a local government financing vehicle (LGFV), has raised $300m from a three year bond.

Haitong International Securities Group took advantage of a wide open market this week, raising $400m from a three year bond that priced inside fair value after heavy demand from the leads.

Greentown Management Holdings Co has uploaded post-listing hearing documents with Hong Kong’s stock exchange as it prepares to launch its IPO.

Rating: Baa2/BBB-/BBB

Online casino gaming company DoubleDown Interactive has set the terms for its Nasdaq IPO, preparing the first South Korean listing on a US bourse in nearly a decade.

Running a successful securitization trustee business is all about balancing the need to sustain high levels of service, while building and maintaining scale by investing in the business. It is a difficult juggling act at the best of times, but in years of exceptionally strong volume, such as 2019, it marks the best from the rest.

2019 was a year of huge growth for the structured finance team at Morgan Lewis. With that growth, and the strong interplay of the structured finance practice with other practice areas of the firm, Morgan Lewis was able to work on some of the most interesting esoteric ABS deals of the year. The number of lawyers working in the structured finance practice grew from 45 to 60 between mid-2018 and 2020. The bulk of the new additions arrived in 2019, when seven new lawyers joined the practice in Washington, D.C, and four joined in both New York and Chicago.

The sheer amount of information, data and noise coming from the markets can be overwhelming even in the most benign periods, and investors need a reliable and impartial source to help them sort through it all. Rating agencies are a crucial conduit for this kind of analysis, and last year, the analysts at Moody’s Investors Service stood out among their peers as the most insightful, engaged, responsive and accessible research team, securing their win in GlobalCapital’s 2019 US Securitization Awards.

The rise of impact investing and environmental, social and governance strategies (ESG) have proved capital markets can be a driving force for positive change. Newmarket Capital, established to acquire and grow the structured solutions and impact-focused IIFC funds previously housed at Mariner Investment Group, is focused on strategies including development and infrastructure finance, socially responsible investments, and impact securitization. In partnership with Citi, the Newmarket team’s CITAH 2019 transaction securitizing affordable housing loans stands out as a prime example of accessing capital markets to address an urgent social need, earning our Most Innovative Securitization Deal of the Year for 2019.

Three broad themes drove Kramer Levin’s ABS practice to new heights in 2019. First, there was the ongoing adoption of clean energy deals by commercial issuers, adding to the already strong issuance from the residential side. Second, there was the rise of new asset classes including Collateralized Fund Obligations (CFOs), as private market investors sought new liquidity for their stakes in private investment funds. Third, an increase in the use of traditional private placements for ABS deals boosted the number of investor clients on the firm’s client roster. This was in addition to work in the timeshare sector and in the residential solar markets that have long been the backbone of Kramer Levin’s practice.