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Cov-lite Loan Controversy Fades To Whisper While Portfolio Managers Chase Yield - Forbes

RLPC-Rosneft loan going ahead despite UK banks' exit - bankers | Reuters

But a host of factors imply that the market should not necessarily expect a repetition in the next cycleof any superior performance stats the 2008 cycle spawned, and that isolating a cov-lite effect is virtually impossible, several investors noted in interviews with Debtwire . For one, the drastic central bank intervention in the financial system beginning in 2008 quickly stabilized then helped improve the economy. That action, which helped cut off distress before it pushed more levered companies into restructuring, is unlikely to be repeated in future cycles. The differences between then and now also include the quality of the cov-lite component of the market which has broadened substantially. During the last cycle, cov-lite was largely the province of borrowers with better credit ratings that investors could justify didnt even really need the looser structures, sources agreed. Now cov-lite loans are accessible for most levered issuers. In 2006 and 2007, only 24.5 percent and 32.7% percent of cov-lite issuers were rated single-B or below, compared with 57% last year, said the DDJ report. Cov-lite loans also represented a much smaller percentage of the whole during the last cycle 7.4 percent of new issuance in 2006 and 25 percent in 2007, the report said. What few argue with is the fact that cov-lite contributes to the erosion of total returns since holders lose the ability to reprice a loan when its risk profile deteriorates. Those loans in turn trade poorly and create paper losses for mark-to-market portfolios. Despite potential pitfalls, avoiding cov-lite deals altogether doesnt make sense now, especially with no near-term default catalyst, sources said.
Puedes ver la version sin traducir en http://www.forbes.com/sites/mergermarket/2014/06/03/cov-lite-loan-controversy-fades-to-whisper-while-portfolio-managers-chase-yield/

English: The door to the walk-in vault in the ... In turn, this may result in an increase in loan-shark harassment. A better approach would be to partner family service centres and voluntary welfare organisations to educate the public on the dangers of borrowing from loan sharks. In Britain, some primary and secondary schools include this topic in their character and citizenship syllabus. Children are also taught the difference between debt and credit, and how to manage their money wisely. The hope is that the children can share what they have learnt with their parents, who can then make better financial decisions. Of course, parents too have a role to play in educating their children not to take part in loan-sharking activities. They can remind their children of the severity of the offences and intervene if their children display signs of involvement. TV advertisements can serve a similar warning role. Perhaps there could be a documentary where former loan-shark borrowers talk about their experiences. A lighter sentence should be considered for those who call the "X Ah Long" hotline ("Sentence lightened for loan shark runner who called hotline"; Oct 31, 2012).
Puedes ver la version sin traducir en http://www.straitstimes.com/premium/forum-letters/story/everyone-has-role-fighting-loan-sharks-20140606

How to Get Approved For a Car Loan with Bad Credit and No Cosigner? - Business Updates - Dacula, GA Patch

Rosneft, BP and Lloyds declined to comment while HSBC could not immediately be reached for comment. Lloyds is 25 percent-owned by the British government, which has repeatedly condemned Russia over its annexation of Crimea in March and accused it of involvement in a separatist rebellion in eastern Ukraine. Moscow denies the charges but Rosneft chief Igor Sechin has been hit by U.S. sanctions as part of a broader move to punish Russia for its seizure of Crimea from Ukraine. The loan was launched to banks in late November at $5 billion but progress has been slow and it was reduced to up to $2 billion in April. Bankers said the deal still has enough support from lenders to go ahead despite the loss of Lloyds, which walked away this week followed by HSBC. "All the other banks are still in the deal, I don't think it will have any impact, we are surprised they were there in the first place," a second banker said. In April Royal Bank of Scotland, which is 80 percent owned by the British government, also walked away from a $1 billion club loan for Russian petrochemicals company Sibur. Bankers are watching to see whether Deutsche Bank will continue to support the deal but said the lender was not under the same political pressure as British banks. Germany, which is a major importer of Russian natural gas, has often been more cautious towards Moscow than Britain, which gets most of its gas from the North Sea and Qatar.
Puedes ver la version sin traducir en http://www.reuters.com/article/2014/06/05/idUSL6N0OM3HS20140605

Everyone has role in fighting loan sharks

Elizabeth Warren , the bill's sponsor , positioned the measure as key to reducing a drag on the national economy caused by the $1.2 trillion in student debt held by Americans. "It is a drag on our economy," Warren said. "It's harder for young people to buy homes, to start businesses, and to begin their economic lives." Warren, flanked by fellow Democrats Barbara Mikulski of Maryland, who sponsored the equal pay legislation blocked by Republicans last month , Dianne Feinstein of California, Patty Murray of Washington, Debbie Stabenow of Michigan, Tammy Baldwin of Wisconsin, and Maisie Hirono of Hawaii, called the combination of soaring student loans and paycheck inequality a "one-two punch for women." Although the number varies depending on how it is measured, most studies find women earn between 15 and 33 cents less than men when equally qualified to do the same work. The number for college-educated women, the senators said, is $0.82. "Young women are working hard to build an economic future for themselves," she said. "Right now, they face an extra tax." The Banking on Students Emergency Loan Refinancing Act would allow student borrowers to refinance their loans to 3.86 percent interest -- the level matching the level set by Congress last year for new borrowers and would be paid for by enacting the so-called Buffett Rule that eliminates a tax loophole allowing millionaires to pay low tax rates. "Young women are hit by a double whammy by ever-increasingly high student debt," Mikulski said. "They deserve a fair shot at higher education they can afford." Research has showed that, despite the continued value of holding a college degree, the rising costs have weighed increasingly heavily on America's young people. Rohit Chopra, the student loan ombudsman at the Consumer Financial Protection Bureau, testified before the Budget Committee Wednesday that multiple studies have found student debt has kept an entire generation from buying homes, starting businesses and saving for retirement. Richard Vedder, the director for the Center of College Affordability and Productivity, argued the problem was not mounting debt -- at least not directly.
Puedes ver la version sin traducir en http://www.upi.com/Top_News/US/2014/06/04/Female-senators-tie-college-loan-push-to-equal-pay/2071401890697/

Warren: Student loans are a 'one-two punch' for women - UPI.com

These days people are buying more cars and online modes of availing loans have expedited the process of availing loans. Loans can now be insured so the fear of bankruptcy has reduced. Get Guaranteed Approval on Pre-Approved Car Loans for Bad Credit In order to avail a loan one must know how to get approved for a car loan. A loan provider will ideally ask for the financial status of a person based on which he will sanction a loan to the applicant. In case of students there is not financial status available. In such cases the student has to be registered with a college or university and based on the chances of employment loans are given to students. There has been an increasing craze among students to become car owners. However in general students need to have pre approved auto loans for bad credit if they have to avail a loan. This is because they have no credit worthiness and banks are not ready to give them loans. However finance companies operating on the internet can give loans on the basis of their employment potential. Steps of availing a car loan with bad credit history The major steps which can show how to get pre approved for a car loan are: The loan seeker needs to find an internet based finance company that disburses pre approved car loans for bad credit.
Puedes ver la version sin traducir en http://dacula.patch.com/groups/business-updates/p/how-to-get-approved-for-a-car-loan-with-bad-credit-and-no-cosigner

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