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The role of rating agencies in contributing to the 2008 financial crisis should not be forgotten. Inflated ratings on securities that turned toxic played a major part in the build-up of the financial bubble that later burst with costly consequences. -
Over the weekend, Harris County in Texas voted in favour of issuing bonds to pay for flood defences, a year after Hurricane Harvey caused terrible damage in the Houston region. It is part of a wider tussle over who bears the risk of catastrophes — and the capital markets are at the forefront of the discussion.
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Commercial Credit Group sold a $268m equipment-backed ABS on Tuesday in what has been a healthy sub-sector of the securitization market in 2018.
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Neuberger Berman is preparing a CLO fund with a focus on mezzanine debt tranches. The private equity firm will pitch the UCITS fund to sophisticated investors and has already secured $77m of seed money.
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Concerns voiced over the growth of collateralised loan obligations (CLOs) shows that many commentators on both sides of the debate are still too blinded by the hangover of the 2008 crisis to appreciate the nuances of the next one.
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Brexit has been a slow-burning problem for the City of London, but burning it is. Financial markets are regulated. With worse access to Europe, the UK must make itself attractive to financial firms in other ways.
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The insurance industry may be well established in developed countries, but protection against disasters remains patchy. Helping the resilience of entities trying to bridge this gap is a way for socially responsible investors to show their worth.
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As demand for investments with good environmental, social and governance credentials rises, are non-performing loans the ultimate social asset class — or toxic waste that ESG investors should disdain?
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Barclays has hired a new head of CLO origination and syndication from Citi, as well as hiring two bankers from Natixis to set up a new middle market CLO platform.
