Investors search for better yields could bolster Africa s nascent secondary market in nonperforming loans, with surging defaults across the continent due to the pandemic creating more opportunities to buy distressed debt.
For an NPL market to develop, three key aspects are required: An adequate regulatory and legal framework; sufficient capital from investors; and specialist companies to rehabilitate the loans acquired.
A lack of supportive laws and regulations, and difficulties in agreeing on prices for NPL portfolios, have so far stymied growth in Africa and support from the likes of the World Bank s International Finance Corp., or IFC, will be critical to creating a functioning secondary market.
IFLR Europe Awards 2021: winners announced
IFLR is delighted to announce all the winning deals, teams and individuals of its 22nd annual Europe Awards April 29 2021
IFLR is delighted to be able to congratulate all the winners of the IFLR Europe Awards 2021. The winners’ presentation can be accessed below, followed by the full list of all winners and reviews of the winning deals.
Allen & Overy picked up this year’s biggest accolade and was named International Law Firm of the Year. The firm scooped 11 award wins across the board, including Loans Team of the Year and Restructuring Team of the Year. These reflected its work on the winning Loan Deal of the Year, the reference-free-rate financing facility for UK retailer Tesco, and Restructuring Deal of the Year, for Virgin Atlantic.
Ashurst expands dispute resolution practice with Hughes Hubbard trio in Paris
26 April 2021
Corporate crime compliance team is led by partner Olivier Dorgans
Olivier Dorgans Image courtesy of Ashurst Ashurst has boosted its Paris dispute resolution practice with the arrival of a corporate crime compliance team from Hughes Hubbard & Reed. The team is led by partner Olivier Dorgan, who is joined by senior associate Paul Charlot and associate Camille Mayet. Dorgan’s expertise spans anti-corruption, economic sanctions, export control and anti-money laundering, as well as investigations. He regularly advises financial institutions, insurers and industrial groups, particularly in the defence, aeronautics, pharma and retail sectors.
Partnering to Preserve Belize Maya Forest
236,000 acres of imperiled tropical rainforest now protected, boosting climate efforts and securing vital habitat for charismatic species including jaguar
ARLINGTON, VA, April 22, 2021 Decades ago, a radical idea was born to protect the Maya Forest in Belize. What if NGOs, the government, community leaders, and businesses could form a coalition to conserve one of the world’s last remaining pristine rainforests?
Today, that dream is a reality with more than a dozen organizations coming together to protect 236,000 acres of land that represents an irreplaceable linchpin in the conservation of the largest remaining tropical forests in the Americas, outside the Amazon. This new protected area is contiguous with and nearly doubles the size of the adjacent Rio Bravo Conservation Management Area previously protected through efforts led by The Nature Conservancy. Combined, it represents 9% of the landmass of Belize and secures a vital
Latham & Watkins and Linklaters top Refinitiv s global capital markets advisory rankings
19 April 2021
First quarter activity surges, with records set in global junk bond issuance and IPOs
Shutterstock Latham & Watkins and Linklaters topped Refinitiv’s legal advisory league tables for global capital markets activity in the first three months of the year, which saw record-breaking quarters for junk bonds and equity capital markets deals. Latham & Watkins topped the issuer advisory rankings by both deal value and deal count, working on 109 debt, equity and equity-related transactions worth $104bn. Meantime, Linklaters topped the ranking by deal value and deal count for advising the banks managing debt, equity and equity-related transactions, working on 212 deals worth $190bn.