Mourant du Feu & Jeune, an offshore law firm, has added Richard de Basto and Matthew Feargrieve to its Cayman funds and finance practice groups, respectively. De Basto joins from Allen & Overy, where he was a partner for close to eight years and concentrated on asset, construction and project finance. De Basto's current practice includes Islamic finance, restructuring and insolvency, leveraged finance, global loans, securitization and real estate finance. He will be based in Mourant's Cayman office. Feargrieve joins from Maples and Calder, where he was senior associate in the London office, advising on Cayman and BVI investment fund structures for hedge and private equity funds. Feargrieve has worked with onshore counsel in the U.S., E.U. and MENA on multi-jurisdictional transactions. He will be based in the firm's London office and will work alongside the Cayman-based funds team. Neal Lomax, partner and investment funds specialist, currently heads that team. In other people news, Mark Escott has moved from Lloyds TSB Bank after a nearly six-year stint as head of securitization to take up a similar position at The Bank of Tokyo-Mitsubishi UFJ, London Branch. In his new role at BTMU, Escott will cover client securitization deals in Europe, the Middle East and Africa. Mark will concentrate on growing the client securitization franchise using either the BTMU-sponsored conduit Albion or the bank's own balance sheet through direct origination and co-purchases.
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To keep cash flowing to the notes, the deal's senior notes have an interest reserve account covering three months' worth of class A note interest payments and fees.
2h ago -
Classes A-1FCF through A-1F will repay noteholders on a pro rata basis, while classes A2 through B3 will be repaid sequentially.
10h ago -
Last week's bond market turmoil continued leading up to the FOMC decision on Wednesday, pushing the 30-year fixed to near or over 7%, depending on the source.
11h ago -
The Elliot-backed manager doubles down on research and expertise to confront market challenges, including tight arbitrage and a looming 2028 debt maturity wall.
September 17 -
Federal Reserve Chair Kevin Warsh framed the central bank's move to increase interest rates as a moderate adjustment to rapid economic growth during his post-Federal Open Market Committee press conference.
September 16 -
The market initially showed relief after the initial confirmation of an anticipated inflation-fighting hike but discussion of a future raise renewed concern.
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