All articles by Janet Du
Janet Du
Editor’s letter: Rolling with the changes
As Leasing Lifes new editor, I have been told that regulation, taxation and business integration are the three themes I should care most about Everyone in the sector I have spoken to so far has mentioned these issues, and its clear to see the impact they have already had I have learned that regulation remains a crucial concern for the sector, as legislation such as Basel III forces banks to look at how they can reduce their costs
Porterbrook refinances debt
Global insurance company MetLife has provided a £250 million loan to UK-based rolling stock leasing company Porterbrook Porterbrook has 1,800 passenger vehicles and over 2,000 new freight vehicles for lease to UK train operating companies MetLife insures 70 million customers across the Americas, Asia Pacific and Europe
BAE to sell leasing arm
UK-based aircraft manufacturer BAE Systems has sold its regional aircraft fleet and asset management business to Fortress Investment Group of the US for $187m (132.4m). The business being sold, BAE Systems Asset Management, leases regional aircraft to 16 lessees, including airlines and investors, in 11 countries It manages 151 commercial aircraft owned by BAE Systems, which are included in the sale, plus the management of third party owned commercial aircraft on behalf of those airlines and investor clients
Econocom completes convertible bond offering
The initial offering of 3.5 million bonds, which can be converted into shares, was upsized to 4 million when Econocom exercised an over allotment option.Proceeds of the offering will be used to pay down the senior credit facility used by Econocom to finance its acquisition of ECS, to extend its debt maturity profile and for working capital purposes