Category: KWC in the News

The repackaging of U.S. fintech loans comes to Canada

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Article on KiWi Private Credit Fund published in The Financial Post, July 12, 2017 The repackaging of U.S. fintech loans comes to Canada

Kilgour Williams Capital Launches KiWi Private Credit Fund

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JULY 10, 2017 – TORONTO First Canadian-Managed Fund Focused on Marketplace Lending Assets Kilgour Williams Capital (KWC) is pleased to announce the launch of KiWi Private Credit Fund.  The fund debuted last month with a significant initial investment from a large Canadian asset manager and it is now open to Canadian individual and institutional investors. The income-oriented fund intends to deliver superior yield by investing in a highly diversified portfolio…

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Papier commercial – Des titres vendus presque à leur pleine valeur

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Le Devoir, François Desjardins Économie, jeudi 12 décembre 2013, p. B4 Six ans après la crise qui a ébranlé des établissements financiers, des entreprises et des centaines d’investisseurs, certains titres nés du papier commercial atteignent 94,3 cents sur le dollar. Une opération complexe organisée par le groupe BlackRock cette semaine a permis de liquider environ 1,5 milliard en obligations, soit 15 % d’un bassin de titres qui ont fait l’objet d’un programme de rachat…

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BlackRock Auctions C$1.5 Billion of Restructured Short-Term Debt

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December 10, 2013 By Mary Childs and Doug Alexander, Bloomberg BlackRock Inc. auctioned C$1.5 billion ($1.41 billion) of restructured asset-backed commercial paper held by investors in the first organized sale of these notes since the Canadian short-term debt market collapsed more than six years ago. A top-rated portion of the Master Asset Vehicle II notes priced at 96.5 cents on the dollar in today’s auction, administrator BlackRock said on its…

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Early Redemption of Restructured ABCP Gets Go-Ahead

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A short article from Bloomberg on the completion of the Optional Redemption initiative, quoting Kilgour Williams Group. Early Redemption of Restructured ABCP Gets Go-Ahead, Moelis Says 2013-10-02 21:04:37.298 GMT By Doug Alexander Oct. 2 (Bloomberg) — Investors in restructured debt that emerged from the collapse of C$32 billion ($31 billion) of Canadian asset-backed commercial paper in 2007 now have the chance to redeem their notes before maturity. A process that…

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National Post profiles KWG Direct Lending Partnership

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The National Post has just published a profile on our new KWG Direct Lending Partnership. Here’s the link to the article, and the photo they went with is below.  Feel free to reach out with any questions or comments on the Direct Lending Partnership.  (Feel free to withhold comments on the photo!)  

Investors eye 5-7 point MAV note redemption arbitrage

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Debtwire, April 19, 2013 by John Wilen A plan by a group of US investors to collapse up to CAD 9.8bn (USD 9.6bn) in obscure Canadian asset-backed bonds — and cash in on big gains in the value of the underlying collateral — is in its final stages, according to three sources familiar with the plans. The plan involves Master Asset Vehicle II notes created in 2009 as part of…

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Restructured ABCP Prices Double as Risk Falls: Canada Credit

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Bloomberg, 2013-02-21 05:00:01.4 GMT By Doug Alexander Feb. 21 (Bloomberg) — The price of debt securities that emerged from the C$32 billion ($31.5 billion) collapse of Canadian asset-backed commercial paper in 2007 have more than doubled in four years to record highs amid improving credit markets and the prospect they may be repaid early. Companies once stuck with frozen ABCP are being offered more than 88 cents on the dollar…

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New newsletter posted

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We’ve just posted a new newsletter here on the recent IIROC penalty assessed against Deutsche Bank in connection with their distribution of third party ABCP. If you’d like to receive our periodic newsletters by email, join our mailing list by the form on the right hand side of this page.

PCAA: Deutsche Bank mise à l’amende

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Le Devoir, February 9, 2013 Francois Desjardins Un des acteurs clés dans le créneau du papier commercial, Deutsche Bank, a accepté de verser une amende de 1 million pour la façon dont il a géré la situation à l’interne dans les semaines qui ont précédé l’effondrement du marché en août 2007. La crise du papier commercial non bancaire adossé à des actifs (PCAA), un casse-tête de 30 milliards, a touché environ…

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