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Latest news
Deal raises questions about whether transaction was done at arm's length
Joanna Chan is taking on the role of head of strategic capital
Key points of contention include the investor sanctions regime and the definition of 'resilience'
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Max Bronzwaer, the former treasurer of Obvion, has joined the Prime Collateralised Securities initiative (PCS) as a senior adviser. -
Permanent TSB announced last week that it sold a €1.3bn book of non-performing loans, Project Glenbeigh, which hit the securitization market last week in a full capital stack issuance underwritten by Citi. But though the Irish bank has sold the loans and booked the capital benefits, it is still the risk retention holder on the transaction.
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Harman Dhami has joined Rabobank as head of DCM syndicate, succeeding Paul Vanner, who, after a sabbatical, will return to Rabo to further develop the bank's MTN platform.
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The UK’s second securitization of income-contingent student loans is poised to be priced by Tuesday, with combined demand of more than £2.5bn for the rated notes, and all tranches subject by Monday’s close.
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The European Supervisory Authorities have tried their best to protect securitization markets from potentially huge damage from January 1 when the new Securitization Regulation comes into effect, encouraging national regulators to apply their powers in a “proportionate and risk-based manner” when new rules come into force next year.
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The European Commission is pushing forward with plans to boost liquidity in the NPL market, promoting a privately owned electronic marketplace to improve transparency and encourage trading. It is inviting ‘industry stakeholders’ to a roundtable, with a plan supposed to be on the table by spring next year.
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Nomura has hired Florian Bita as the head of CLO origination and syndication for the Americas.
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HSBC has appointed a new head of sustainable bonds for EMEA, in its debt capital markets team, after Victoria Clarke left to join Barclays in August.
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A tie-up with real estate firm Grivalia will allow Eurobank to accelerate the reduction of its non-performing exposures, the Greek lender said on Monday. The country’s banks normally face equity dilution from writing down bad loans, under a law relating to deferred tax credits (DTCs), but Eurobank has found a structural way to get around that.
