Credit – Page 14
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Special Report
Credit: Private Placements & SMEs
Europe’s private placement markets have so far been the preserve of larger, investment-grade borrowers. But there are signs that credit-hungry smaller companies may finally be getting a look in
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Special Report
Credit: Standardising European Private Placements
One way to bring investors to the projects that are willing to pay sufficient yields might be a pan-European private placement market
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Special Report
Credit: Private Placements in Germany
Germany has one of the longest established private placement markets in Europe, but bank lending is still dominating the finance arena
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Special Report
Credit: Debt Markets & Private Equity
With non-bank lending on the rise in Europe but significant barriers to entry into the business, the mid-market private equity industry might be ready to take up some of the slack
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Special Report
Credit: Direct Lending Spreads
The search for yield has sucked significant institutional capital into European direct-lending markets
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Special Report
Credit: Shipping Debt
Despite a background that might suggest a ready supply of bargains, shipping debt and the banks that have written it have come through recent years in remarkably good shape
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Special Report
Credit: Dutch mortgage market thrives as investors pour in
Assets held in Dutch mortgage funds grew by a staggering 81% or €3bn during 2014
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News
Lancashire fund makes 53 appointments to investment framework
Local government scheme appoints consultants to advise on asset classes, governance
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News
Strathclyde slashes equities in shift to ‘enhanced yield’ strategies
UK’s largest LGPS moves away from 70% equity allocation to absolute return, hedge funds and debt
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News
Mandate roundup: Dorset County, Wiltshire Pension Fund, Loomis Sayles
Dorset pension fund targets two managers for £480m in global active, smart-beta equity strategies
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News
LPFA selects four managers ahead of £150m alternative credit push
London local authority fund selects four managers for national framework agreement
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News
ERAFP selects three managers for €2.5bn of credit mandates
French civil service scheme appoints managers to implement ‘buy-and-hold’ strategy
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News
Resurgent banking market sees Irish SWF shift to junior debt, equity funding
Post-crisis funding gap replaced by ‘wall of liquidity’ coming from bank debt back into Ireland
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Asset Class Reports
Investment Grade Credit: What’s next for ABS?
While the tone of the authorities has changed markedly over recent months, there are still many anomalies in the way securitisation is regulated in Europe
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Asset Class Reports
Investing In Investment Grade Credit: A widening spread
Joseph Mariathasan finds that the divergence of USD and EUR corporate bond performance tells us a lot about how badly Europe’s economy is lagging that of the US
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Asset Class Reports
Investing In Investment Grade Credit: Problem solving
Forthcoming solvency rules led many insurers away from equities towards corporate bonds just in time to dodge the financial crisis. With yields low and spreads tight, but the Solvency II ghost still at the feast, Joseph Mariathasan looks at what they are doing now
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Asset Class Reports
Investing In Investment Grade Credit : Improved credit rating?
The financial crisis threw the spotlight on rating agencies. In particular, the failures in sub-prime asset-backed securities (ABS) that were seen as the catalyst that unleashed the global maelstrom of 2007-09 called into question their methodologies for rating structured products.
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Asset Class Reports
Investing In Investment Grade Credit: Too much reliance on quick and dirty signals
Ratings agencies were given far too much authority in the era of de-regulation in order to encourage more cross-border and non-professional investment, argue Paolo Di Caro and Belmiro Oliveira. Removing their judgements from financial regulation is a belated recognition of the damage that was caused
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Asset Class Reports
Investing In Investment Grade Credit: New year’s resolution
The end of the de-leveraging cycle could signal a comeback for senior debt issuance in 2015. But Charlotte Moore identifies the new ‘TLAC’ regulation as the truly significant factor for the long-term shape of bank capitaL
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Asset Class Reports
Investment Grade Credit: Securing liquidity
Banks may no longer be able to make markets in non-Volcker-compliant CLOs. We look at what this means and why it could be a particular problem for European structures
