A&O Shearman’s Post

Bond covenants are critically important protection for investors 👉 https://lnkd.in/easgPfh9 The TCW Group's Generalist Portfolio Manager Jerry Cudzil and Co-Head of Global Credit Steve Purdy discuss the weakening of those covenants over the past several years and how that trend is having a real impact on investors and outcomes.

Is it much ado about maturity wall risks for the private credit market? Most companies won’t be impacted in the “near term” as KBRA’s William Cox told Alternative Credit Investor recently. “For companies whose loans are maturing, some of those companies certainly are going to be facing a much higher #interestrate environment which means their #refinancing is going to come at lower #valuations, all else being equal.” Learn more about our #PrivateCredit efforts on kbra.com or read the full story here: https://lnkd.in/ev79ZSac #maturitywall #funds

JPM Global Core Real Assets eyes reduction to real estate exposure as continuation vote 🗳 looms. JP Morgan Global Core Real Assets (JARA) trust has proposed a reduction of its real estate exposures ahead of the trust's five-year continuation vote. Check out Valeria Martinez's latest article 👇 https://incm.pub/3XKq0no #investing #assetmanagement #wealthmanagement #finance

A very warm welcome to all attendees for The 3rd Annual Asset Based Finance U.S. Conference 2024! Today’s one-day event is packed with insightful discussions on the future of asset-based finance and emerging opportunities. We’ll cover: 🔹 The rise of new asset classes like digital infrastructure and litigation funding 🔹 Private credit’s role in supporting NBFI originators and non-bank lenders 🔹 Key financing strategies: securitization, forward flow, and balance sheet approaches 🔹 How macroeconomic and regulatory shifts are impacting ABF growth Looking forward to a day of learning and networking with industry leaders! #DealCatalyst #GetDealsDone #AssetBasedFinance #PrivateCredit #StructuredCredit #CapitalStructure

Save the date for our upcoming GC Live briefing on UK Securitization on March 13 in London in partnership with KBRA and Latham & Watkins. Don't miss out on this opportunity to stay ahead of industry-defining moments. The discussion will explore UK securitization regulation, how the return of high-street banks affects the UK securitization market, and non-prime RMBS in a higher for longer economic environment. To attend, email us at gclive@globalcapital.com or visit https://lnkd.in/eRM34BYV to apply for your place. #GCLive #securitization #capitalmarkets

Competition is intensifying among credit-rating agencies for assignments to review securitizations of nontraditional assets, with Moody's Ratings, S&P Global and Fitch Ratings increasingly pursuing work in such sectors. And in some cases, they’re picking up work that otherwise might have gone to KBRA. An #analysis by Asset-Backed Alert has revealed several instances in which the Big Three rating firms have made their presences known in asset classes including #music royalties, whole-business cashflows and #solar-power equipment finance. Get the behind-the-scenes details plus other leading-edge news and authoritative statistics on worldwide securitization activities in this week’s Asset-Backed Alert, a Green Street News title. https://lnkd.in/euAbgSZb

Pleased to share an update on our Q1 activity. The team has expertly delivered on complex and exciting deals, across a range of sectors. We now look ahead to a strong Q2, underpinned by a strong pipeline, changing dynamics and objectives of optimistic business leaders and an easing of credit spreads in the alternative market. These are signs of tailwinds in the SME & mid-market debt world, contrary to speculation around an economic slow down later this year. Well done all Oliver Reece Andrew Robertson Phil Dibbs Fresh Thinking Advisory https://lnkd.in/e4dNQy3C

Our featured scorecard this week is Octagon 63- Octagon Credit Investors Credit This deal has been arranged by RBC and Dechert LLP acting as manager counsel. Key features in this manager’s deal include no work-out obligations, limited impact of restricted trading period & a certain AAA condition that makes post-reinvestment terms stricter. Access this scorecard and more, reach out to contact@dealscribe.com. #condition #markets #obligations #bonds #trading #CLO #realintelligence #thedevilisinthedetail

We’ll be holding a new GC Live briefing for issuers and investors on UK Securitization on March 13 in London in partnership with KBRA. Brexit and the end of a prolonged low-interest rate era are reshaping the UK securitization market. With regulatory control now in the hands of the UK government, market participants (both old and new) are seeing new opportunities. Join us at our GC Live briefing on March 13 in London to get ahead of these defining moments for the industry. Topics for discussion include: - How is the return of high-street banks affecting the UK securitization market? - UK securitization regulation - Non-prime RMBS in a higher for longer world To attend, email us at gclive@globalcapital.com or visit https://lnkd.in/eRM34BYV to apply for your place. #GCLive #securitization #capitalmarkets

We are pleased to announce Natixis Corporate & Investment Banking as our new partner for our upcoming #GCLive briefing on UK Securitization. Date and time: March 13, 2pm - 4.45pm Location: In person, London Who is it for? Issuers and investors Apply for a place: https://lnkd.in/eYrtseH7 This private briefing is for funding officials and specialist investors in the UK securitization market. It will explore how the return of high-street banks is affecting this market, how to navigate the slow evolution of UK securitization regulation, and will also take a close look at non-prime RMBS in a higher for longer world. To learn the latest thinking, join us on March 13 and hear speakers from KBRA, Latham & Watkins, Lloyds Banking Group, Natixis Corporate & Investment Banking, Shawbrook Bank, TwentyFour Asset Management LLP, Enra Specialist Finance and others. If you are an issuer or investor and want to attend, email us at gclive@globalcapital.com or visit our website for more information https://lnkd.in/eNk_bdj9 #GCLive #securitization #capitalmarkets #structuredfinance