Finance

It isn't just the scale of profit that's startling, but the industry's ability to push through scandals and thrive anew.

The asset manager is raising $372 million, and managing a portfolio with higher than average rates of turnover and overlap in collateral composition.

Debt markets are increasingly sorting US leveraged loans into two categories: money good, and distressed.

The consensus calls for shrinking collateralized loan obligation volume in 2023, but rewards are said to outweigh the risks.

The largest U.S. bank also includes iron ore and steel companies in latest plan to meet emissions-reduction goals.

Loans with payments late by a year or more were the biggest sub-category within the distressed portfolios a year ago, but now mortgages that've been late for 30-59 days are.

Though EFMT is considered non-prime, its mortgage borrowers have a WA original credit score of 737; an LTV of 71.0%; and a debt to income ratio of 33.1%.

Arrangers and analysts aren't predicting a return to the exponential growth of the past decade that turned a fringe concept into a $5.6 trillion asset class.

In addition to their business investment purposes, the loans in BINOM 2022-INV are first-lien, fixed- and adjustable-rate, fully amortizing and interest-only.

Treasurys rose and stocks dropped after a sudden hawkish move from the Bank of Japan sent the yen soaring and raised expectations it would boost interest rates.

As recession clouds gather amid signs inflation may have peaked, safe yields approaching 5% for blue-chip corporate debt strike many managers as decent value.

After Athas Capital Group winds down DLJ Mortgage Capital will make all loan-level representations and warranties for the deal.

The inaugural CLO for Northwestern Mutual Investment Management and offers notes that appear to have a lower scenario default rate, plus higher WA recovery rate.

There's an unusual contributing factor: wild swings in markets mean borrowing windows often shut before firms can begin to sell their bonds.

The deal's collateral manager, GC Advisors, will retain the subordinate $122.8 million tranche, leaving $264 million to be sold to bond investors.

Bible spent 14 years at BB&T and Truist before announcing his retirement earlier this year. He will replace Darren King, who will remain at M&T in a new role.

Surging costs and softening demand for foie gras, smoked salmon and other festive food will burn up cash at Labeyrie Fine Foods SAS this year.

GM Financial and Santander Consumer USA together once made up more than 80% of subprime issuance in 2011, and now they account for just 34% of YTD issuance.

The biggest lenders are bagging bigger chunks of the $1.4 trillion market for private credit as investors get choosier about where they park their money.

When broken down by revenue, natural gas accounts for 80% of the assets' revenue mix; natural gas liquid accounts for 16% and oil revenue represents 4%.