Edition:
United States

Owen Sanderson

Funds hunt mortgage bargains as Pepper lands in UK

Feb 06 2014

LONDON, Feb 6 (IFR) - Funds are chasing bargains in UK mortgages from legacy holders, nearly six years after the collapse of Northern Rock, and relying on specialist debt collectors to extract value from them.

UK transmission financing OFTO the races

Nov 29 2013

LONDON, Nov 29 (IFR) - The first underwater power transmission bond in the UK priced on Tuesday, opening a market which could see GBP15bn-GBP20bn of financing over the next seven years, according to arranger HSBC.

El Corte Ingles sells debt backed by 14% of Spanish population

Nov 06 2013

LONDON, Nov 6 (IFR) - El Corte Ingles, the largest department store chain in Spain, has sold a securitisation deal backed by the debts of more than 14% of the Spanish population.

USD10bn trade boosts Deutsche Bank's CLO hedging

Oct 11 2013

LONDON, Oct 11 (IFR) - Deutsche Bank sold off the risk on more than USD10bn of loans in CLO format at the end of September, in a decisive shift of the bank's portfolio hedging away from CDS and towards CLOs.

Castor bonds hit as Spain halts project

Oct 11 2013

LONDON, Oct 11 (IFR) - The European Investment Bank's first project-backed bonds have been hit hard by a statement from the Spanish government threatening to remove the "right of relinquishment" from the deal.

JP Morgan to securitise equity release portfolio

Sep 12 2013

LONDON, Sept 12 (IFR) - JP Morgan is working on a securitisation of part of its portfolio of equity release mortgages, according to two people familiar with the deal.

Barclays CoCos at risk from PRA Pillar 2 change

Sep 05 2013

LONDON, Sept 5 (IFR) - Barclays could lose the regulatory benefit from its contingent capital notes if the PRA takes a more a stringent line on Pillar 2 capital, which could lead to the notes being called early or being the subject of a liability management exercise, according to research from BNP Paribas.

European banks pick up capital plans

Aug 30 2013

LONDON, Aug 30 (IFR) - European banks are finally getting to work on upgrading their capital buffers, on the back of the regulatory certainty which the European Banking Authority finally granted at the beginning of June.

Credit Agricole hires banks for CoCo roadshow

Aug 28 2013

LONDON, Aug 28 (IFR) - Credit Agricole has announced a series of investor meetings across US, Europe and Asia to discuss a possible dated subordinated contingent capital 144A/Reg S issue. A transaction may follow, subject to market conditions.

BNP Paribas revives "originate to distribute" for commodities

Aug 22 2013

LONDON, Aug 22 (IFR) - BNP Paribas is taking part of its commodity trade book off balance sheet, in a new deal called Lighthouse Trade Finance 1, reviving the "originate to distribute" business model.

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