All articles by Brendan Malkin
Brendan Malkin
Dip in Babcock & Brown Air Ltd’s shares
Airplane lessor Babcock & Brown Air Ltds shares have dropped from 23p per share at IPO stage to 22.73p yesterday (September 27) Based in Ireland, Babcock & Brown Air was formed in May by Australian investment firm, Babcock & Brown Ltd., which continues to hold 13 per cent of the company
Addison joins The Alta Group
Jeff Addison, a specialist in mergers and acquisitions and business strategy, has joined the leasing consultancy The Alta Group Addison was most recently a consultant at SFS GMBH, and was also formerly CEO and managing director of Siemens Financial Services (SFS) Ltd at the time of the lessors acquisition of Schroder Leasing in 2000 Recently Addison was involved in establishing a new vendor finance business in Spain, and advising on setting up new businesses in Germany and Scandinavia
BLME quadruples leasing business
The value of operating leased assets at the Bank of London and Middle East have quadrupled in the last six months as the demand for Islamic financing in the small- and medium-ticket arenas continue to grow. On 30 June 2008, operating lease assets totalled £44.9 million (56.3 million), compared with £11.9 million at the end of last year. The banks leasing business which grew as a proportion of total balance-sheet assets from 4 percent to 7 percent during this six month period focuses on the leasing of mid-sized assets from trucks through to specialised equipment such as rotating tilting furnaces
Editor’s Letter: A year (best not) remembered
2008 was a year of panic as lessors responded to a crisis almost unparalleled in economic history. Here are some of the highlights to remember.
Babcock’s leasing equity ring-fenced from collapse
Equity stakes held by Babcock & Brown in its leasing businesses have been ring-fenced from the administration of the Australian infrastructural company that started last week.
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State, Lloyds, Close in multi-funding company acquisition
State, Lloyds, Close in multi-funding company acquisition A host of finance products including asset finance and invoice discounting have been employed in a large-scale UK coach deal that ultimately was largely structured by a single broker.
Alta joins up with US M&A specialist
Bruce Kropschot, the founder of Kropschot, a leasing M&A specialist, also becomes a principal of The Alta Group, and will serve as the managing principal of the latters expanded Merger and Acquisition Advisory Division
A reminder of lessors’ fragility in the face of reform?
Paul Nash, a lease specialist tax partner at PricewaterhouseCoopers, said the budget contained a lot of yesterdays news, while Tony Mitton, vice president of SMBC Leasing (UK) Limited, described it as nice and quiet, referring to its absence of comment on large ticket leasing
HSBC AF largely unconcerned by credit crunch
Despite many banks being forced to downsize their lending capacity because of the current economic crisis, the UK asset finance arm of HSBC does not expect any major change in its credit policy Given that we have a strong capital base at HSBC, we are reasonably immune to funding issues that are affecting the independents and the larger banks that dont have a stable capital base, Derren Sanders, head of leasing at HSBC, said
BCR Leasing gains foothold in Romania
New business last year at BCR Leasing, the Romanian subsidiary of Banca Comerciala Romana, for the first time exceeded 0.5bn, largely on the back of increased investment in the vehicles and real estate sectors Its car leasing business, despite representing 44 per cent of its total portfolio, saw a drop of 14 per cent in new business, largely as a result of the lessors efforts to focus on more buoyant markets.