Ambac Senior Managing Director Douglas Renfield-Miller has been named chairman of Ambac Assurance U.K. Ltd., where he will oversee Ambac's European operations encompassing both the London office and the Milan branch. Renfield-Miller will also continue to be responsible for the Asia/Pacific markets including offices in Sydney and Tokyo. Renfield-Miller had been responsible for Ambac's commercial asset-backed securities, global structured credit, secondary markets and financial services businesses as well as the company's non-European international activities. Prior to joining Ambac in 2000, he was a in the principal finance and credit arbitrage group at UBS. Former Ambac U.K. Chairman, Executive Vice President John Uhlein III is now responsible for focusing on the continued development of Ambac's domestic structured finance business in New York.
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Spreads ranging from 16-18 basis points over the three-month, interpolated yield curve on the P1 (Moody's) and F1+ (Fitch) notes, to 160 to 170 over the benchmark on the class D notes.
58m ago -
Broken down by product type, the agency's NJCLASS Standard Fixed product should account for a large majority of the loans, 75.4%. NJCLASS Consolidation will account for the next-largest group, 14.1%.
April 24 -
The notes will price against Treasurys, with spreads expected to fall between 85 and 90 basis points over the benchmark.
April 24 -
The JPMorgan Chase CEO took aim Tuesday at the proposed Basel III endgame rules, hindrances to mergers and bureaucratic burdens. "I would love to have a more productive relationship with regulators, but I think it takes conversation," Dimon said.
April 24 -
Bluegreen Vacation originated the loans and Fitch expressed confidence in its record of good performance as servicer.
April 23 -
Many legal experts think the Supreme Court will rule in favor of the Consumer Financial Protection Bureau in a case challenging its funding. Such a ruling would unleash a flurry of litigation that has been on hold pending the outcome of the constitutional challenge.
April 23