All articles by Verdict Staff
Verdict Staff
SFS appoints new sales and marketing director
Siemens Financial Services, UK financial solutions provider, has promoted Derek Ryan to new sales & marketing director
Shire Leasing has big ambitions
Shire Leasing, an independent UK equipment financier, has hit the £150m turnover mark for 2008 and plans to contribute to Britains economy through corporate expansion. Leasing to a broad range of sectors including health and beauty, security, catering and IT, the company will give an economic boost to its region of Staffordshire, with 170 new employees and new premises
VTB Bank strengthens ties with AVTOVAZ
VTB Bank, Russias second largest bank ranked by tier 1 capital has strengthened its partnership with JSC AVTOVAZ, Russias largest car manufacturer in what Russian news reports have referred to as a Cooperation Program for 2008.
Egypt’s first lease-backed securitisation
Egypts leasing and asset finance company, Corplease (Corporate Leasing Company Egypt S.A.E) completed Egypts first lease-backed securitisation via its SPV, the Egyptian Securitization Company (ESC).
Building a route to gold
Raising £2.5bn of bank debt to leverage an acquisition of a company would be extremely challenging, if not virtually impossible, in any other industry but the rail sector in Europe, given todays credit markets But a bank club has committed this amount of finance to back the Babcock & Brown and Deutsche Bank acquisition of UK Rosco Angel Trains from Royal Bank of Scotland, which is likely to net the UK banking group in the region of £4bn
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SREI-BNP Paribas Lease JV starts operations
The joint venture between Indias SREI Infrastructure Finance Ltd and BNP Paribas Lease Group, announced last year, will begin operations today, the partners said
CIT closes $8.1m vendor deal
CIT Group (UK) Limited has financed the purchase of $8.1m (£4m) of equipment for Genolier Swiss Medical Network (GSMN), the healthcare division of AGEN Holding SA, Switzerlands second largest private clinic group
Cap allowances cut 5% in unremarkable budget
Alistair Darlings 2008 budget has delivered a softer blow to lessors compared to those of recent years with the main change being the predicted 5 per cent cut in capital allowances (CAs) for plant and machinery The CA drop to 20 per cent is likely to make up for the government shortfall caused by its decision to cut corporation tax from 30 per cent to 28 per cent by April this year.
Expectations on the increase
He noted that: Only 13 per cent of our respondents viewed the finance programme as an independent profit centre, but at the same time well over half of them felt that it had a positive impact on their key corporate performance indicators
Babcock-Deutsche-AIG gain pole in Angel Trains race
The consortium featuring investment firm Babcock & Brown has taken the lead in the £3.5bln race for Angel Trains, the rolling stock leasing company (rosco) put up for sale by Royal Bank of Scotland (RBS), reported The Daily Telegraph.