Monday, October 21

Tag: Financing Agreements

Construction Loans, Like Holiday Guests, Might Hang Around Too Long
26Dec By adminNo Comments
Money

Construction Loans, Like Holiday Guests, Might Hang Around Too Long

Dec. 26, 2023 10:00 am ETThroughout 2023, there were a lot of tough headlines about commercial real estate: Vacant offices. Falling apartment rents. Fire-sale prices. So why did banks’ loans to that market grow this year?So-called CRE loans at banks are up over 3% over last year, versus a more than 1% decline in general commercial-and-industrial corporate lending, according to weekly Federal Reserve data through Dec. 6. CRE loans’ rise was just shy of the increase in loans to consumers. And within CRE, construction-and-land development lending was up over 9%, growing almost as much as credit-card loans.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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Country Garden to Make CNY3.07 Billion Disposal to Aid Debt Restructuring
14Dec By adminNo Comments
Money

Country Garden to Make CNY3.07 Billion Disposal to Aid Debt Restructuring

Chinese property giant Country Garden will sell a stake in a commercial center operator for about $428 million, using the proceeds to help restructure offshore debt.The indebted developer said Thursday that a group subsidiary will sell its entire 1.79% stake in Zhuhai Wanda Commercial Management Group for 3.07 billion yuan ($428.0 million).Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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Country Garden to Make CNY3.07 Billion Disposal to Aid Debt Restructuring
14Dec By adminNo Comments
World

Country Garden to Make CNY3.07 Billion Disposal to Aid Debt Restructuring

Chinese property giant Country Garden will sell a stake in a commercial center operator for about $428 million, using the proceeds to help restructure offshore debt.The indebted developer said Thursday that a group subsidiary will sell its entire 1.79% stake in Zhuhai Wanda Commercial Management Group for 3.07 billion yuan ($428.0 million).Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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Financial Services Roundup: Market Talk
5Dec By adminNo Comments
World

Financial Services Roundup: Market Talk

The latest Market Talks covering Financial Services. Exclusively on Dow Jones Newswires at 4:20 ET, 12:20 ET and 16:50 ET.0139 GMT – Malaysian banks may report better earnings in coming quarters, with some lenders already seeing higher interest income as margin conditions improve, Kenanga IB analyst Clement Chua says in a note. However, this may not fully materialize in the coming 4Q earnings amid seasonal deposit competition, he says, but adds that banks’ 2024 earnings should stand up better than 2023. Chua expects banks may compete to increase market share in the financing space and thinks Bank Negara will maintain its policy rate at 3.0% throughout 2024, resulting in solid business conditions for the banking industry. Kenanga maintains an overweight rating on the Malaysia banking secto...
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Beijing Pledges More Financial Support to Aid Private Economy
27Nov By adminNo Comments
World

Beijing Pledges More Financial Support to Aid Private Economy

Nov. 26, 2023 10:38 pm ETChinese authorities rolled out a new set of measures to pump more financial resources to help the country’s struggling private sector, the latest effort by Beijing to revive weakening business confidence amid economic headwinds.Ministries led by the People’s Bank of China said they would ask Chinese banks to set annual targets for services to private businesses and raise the weight of such services in lenders’ performance reviews, according to a notice on the central bank’s website Monday.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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Goldman Moves to Unload GM Credit Card
7Nov By adminNo Comments
Money

Goldman Moves to Unload GM Credit Card

Updated Nov. 7, 2023 5:44 pm ETGoldman Sachs plans to begin a process to unload its General Motors credit-card program in another step away from its failed foray into consumer lending.The bank on Tuesday informed a group of employees within its Platform Solutions division, who work on the GM card, that a process to find a new issuer will begin soon, people familiar with the matter said. GM is expected to run the process.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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Sam Bankman-Fried Says FTX Actions Were Guided by Lawyers
27Oct By adminNo Comments
Money

Sam Bankman-Fried Says FTX Actions Were Guided by Lawyers

Updated Oct. 26, 2023 6:53 pm ETFTX founder Sam Bankman-Fried previewed a potential defense Thursday when he told a federal judge that he relied on the blessing of lawyers to make business decisions such as deleting communications and making loans to himself, actions that prosecutors said allowed him to commit the crimes that led to the implosion of his crypto exchange.Bankman-Fried, on trial for fraud, money laundering and other offenses, had been expected to testify in front of a Manhattan federal jury on Thursday afternoon. Instead, in what amounted to an unusual practice session after the jury was dismissed for the day, U.S. District Judge Lewis Kaplan required the FTX founder to walk through several subjects that were in dispute so the judge could rule on what Bankman-Fried could say...
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China Evergrande's 11th-hour cancellation of a restructuring affecting more than $19 billion of its international bonds could lead to a messy collapse and have "a catastrophic effect" on other troubled companies in the property sector, its bond investors said.
10Oct By adminNo Comments
World

China Evergrande's 11th-hour cancellation of a restructuring affecting more than $19 billion of its international bonds could lead to a messy collapse and have "a catastrophic effect" on other troubled companies in the property sector, its bond investors said.

China Evergrande’s 11th-hour cancellation of a restructuring affecting more than $19 billion of its international bonds could lead to a messy collapse and have “a catastrophic effect” on other troubled companies in the property sector, its bond investors said.
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The New Kings of Wall Street Aren’t Banks. Private Funds Fuel Corporate America.
8Oct By adminNo Comments
Money

The New Kings of Wall Street Aren’t Banks. Private Funds Fuel Corporate America.

Listen to article(2 minutes)Hyland Software, a business software company based in Ohio, relied on Credit Suisse for years to arrange billions of dollars in loans. After the Swiss bank collapsed in March, Hyland switched tracks and borrowed $3.4 billion from a little-known investment firm, Golub Capital, and others that specialize in a Wall Street craze known as “private credit.”Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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