International

Paynet: Q3 Canadian Business Index Declines for Third Straight Quarter

Commercial borrowing by small- and medium-sized businesses in Canada declined 2% in Q3/14, marking the third straight quarter of loss, according to a PayNet data release. read more

Societe Generale EF Names Jehmlich Deputy CEO

Societe Generale Equipment Finance announced the appointment of Jochen Jehmlich as deputy chief executive officer, effective on November 1st, 2014. read more

Sumitomo Mitsui Extends Reach to U.S.

Sumitomo Mitsui Finance and Leasing went live with SunGard’s Ambit Asset Finance solution to support their service extension to clients in the U.S. read more

Porterbrook Rail Finance Sold to Investor Consortium

A consortium of investors has reached an agreement to purchase Porterbrook Rail Finance, one of three major rolling stock leasing companies in the UK. read more

De Lage Landen in UK Alliance to Curb Energy Waste

UK Green Investment Bank and De Lage Landen announced a new $82 million funding alliance to curb energy waste and reduce costs at British hospitals. read more

GE Capital to Sell New Zealand Consumer Finance businesses

The National Business Review reported that GE Capital is selling its New Zealand and Australian consumer finance businesses. read more

PayNet Announces AbsolutePD Risk Management Solution

PayNet releases AbsolutePD, for Canadian commercial lenders to provide forward looking probabilities of default on each borrower where financial statements or tax returns are unavailable. read more

Macquarie, Orix Said to be Bidders for Awas Portfolio

Reuters reported that Macquarie Group and Orix are among a group of companies exploring binding offers for the $5 billion aircraft portfolio being sold by lessor Awas. read more

Cat Financial Participates in $185MM Project Financing

Guyana Goldfields announced the signing of a $185 million financing agreement to support the construction of the Aurora Gold Project. Cat Financial was said to be a member of the syndicate of senior lenders that provided the financing. read more

Leaseurope/Invigors: European Lessors Remain Bullish in H2/14

Leaseurope and Invigors EMEA have published the results of their European Business Confidence Survey. The results confirm the optimism evident at the beginning of the year. read more

Leasing Foundation Announces European CEO Award Nominees

The Leasing Foundation announced it established the European CEO of the Year award to recognize the contributions of an outstanding leasing and asset finance leader. It named 11 nominees, to be awarded Oct. 3, 2014. read more

China Wealth Fund Said in Talks to Acquire Avolon

Reuters reported that aircraft leasing firm Avolon is in talks with China’s sovereign wealth fund about a possible takeover by the fund for $4 billion to $5 billion including debt. read more

IASB Issues Loan Loss Reporting IFRS 9

The IASB issued IFRS 9 which forms part of the body’s response to the global financial crisis. The provision will require firms to recognize full lifetime expect losses at an earlier stage. read more

China Encouraging Aircraft Lessors to Expand Abroad

According to Bloomberg, China is encouraging financial institutions with aircraft-leasing businesses to look for opportunities overseas for expansion and fund raising. read more

Aircraft Lessors Unaffected by Potential Ex-Im Wind Down

According to Fitch Ratings, any U.S. congressional vote that winds down the Export Import Bank of the U.S. would be manageable for aircraft lessors given the availability of other financing alternatives. read more

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Terry Mulreany
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