Latest news
Latest news
European and high yield chiefs to take the reins
Kevin Duignan to retire after 33 years, mainly in structured finance
First European buy now, pay later securitization expected next year
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With the UK opening up high street retail on Monday, investors are said to be eyeing retail real estate for opportunities. But the market, hit hard by the pandemic, will be slow to recover – with Newcastle’s Metrocentre becoming a prominent example of the future for shopping centres after the pandemic. -
Long-awaited amendments to European securitization law come into force on Friday, which should make non-performing loans securitization easier at a time when bad debt levels are set to rocket. Tom Brown reports.
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BNP Paribas has hired a banker from Credit Suisse to work in its non-performing loans team, as the French bank increasingly targets securitization business in the sector.
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German fintech lender Auxmoney has nabbed another round of funding from Citigroup and Chenavari Investment Managers, receiving €250m in total.
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The G20’s Financial Stability Board is cranking up its action on climate change again now that Donald Trump is no longer US president. This will feed the hopes of some sustainable finance supporters who want the FSB to drive progress on issues including environmental accounting.
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The UK government is planning to tighten the energy efficiency ratings required for buy-to-let mortgages, phasing in the changes through to 2028, but some mortgage lenders are implementing the rules early. The result could mean more collateral for green structured finance transactions as well as a lower risk of default.
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Morgan Lewis has added Steven Becker and Alex Velinsky to its structured transactions team, bolstering a practice the firm has been growing recently. Both partners join from Hunton Andrews Kurth.
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Arc Ratings has appointed Stefan Augustin as co-head of structured finance of ARC Ratings, heading up the firm’s European business.
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The UK is overhauling its securitization regime following its exit from the EU in a bid to become a more competitive destination to host special purpose vehicles. The move comes as EU authorities sign the latest amendment to securitization rules, splitting the two jurisdictions further apart and causing headaches for issuers wanting to sell into both markets. Tom Brown reports.
