International

TPG Sells China Leasing Business for $715MM

Reuters reported that private equity firm TPG Capital has agreed to sell its China leasing business UT Capital Group to Haitong International for $715 million. read more

Leasing Foundation to Develop 'Diversity Scorecard'

The Leasing Foundation said it has agreed to collaborate with business law firm DWF on the development of a Diversity Scorecard for the leasing and asset finance industry. read more

WSJ: LIBOR Probe Examines Senior Execs at Citi, Other Banks

The Wall Street Journal reported that regulators in the U.S. and UK want to know if senior executives at up to a dozen banks participated in alleged LIBOR manipulation. read more

Leasing Industry in China Will Reach $1.6T in 2020

According to a market research report, in 2012 the business turnover of China’s financial leasing was $253 billion, up from $152 billion a year earlier. The report notes the scale of the leasing industry in China will exceed $1.63 trillion in 2020. read more

MAPI: Q2 Shows Dramatic Shift in U.S., China Trade Data

The Manufactures Alliance for Productivity and Innovation reported that Chinese export growth of manufacturers, which went from a very high 19% in Q1/13 before decelerating to 3% in Q2/13, raises a number of intriguing questions. read more

Pacific Basin Secures Japanese ECA Vessel Financing

Pacific Basin Shipping announced it has finalized terms of a post-delivery export credit agency financing with regard to two handymax vessels. The $51 million facility was arranged with JBIC with Citibank Japan as co-financing lender. read more

Lloyds Said to be Seeking Sale of $3.6B Leasing Unit

Reuters is reporting that Britain’s Lloyds Banking Group is preparing to exit the Australian market, seeking to sell a leasing unit with a book value of $3.6 billion. read more

Wells Fargo Acquires Comerzbank’s UK Commercial RE Portfolio

Wells Fargo acquired Commerzbank’s Hypothekenbank Frankfurt UK commercial real estate portfolio. The transaction includes $6.05 billion of high-quality institutional assets throughout the UK. read more

Bloomberg: Citi to Name Asia-Pacific Commercial Bank Head

Bloomberg reported that Citigroup named Ashish Bajaj to head its Asia-Pacific commercial bank as it seeks more revenue from small and medium-sized companies in the region. read more

Leasing Foundation Appoints Chair of Governors, CEO, COO

The Leasing Foundation said it has appointed Andrew Denton (CHP Consulting) as its first CEO, Mary McNamara (Close Brothers) as chair of governors and professor Peter Thomas as COO. read more

E-Learning Adviser Joins Leasing Foundation

The Leasing Foundation said Dr. Tim Gibson, currently head of Learning Services, MoJ Shared Services at the HM Government Ministry of Justice will act as adviser on e-learning to the Leasing Foundation. read more

CHP, SGEF Announce Successful System Implementation

CHP Consulting, supplier of ALFA Systems, and Societe Generale Equipment Finance have announced the successful implementation of a web-based point-of-sale system in the UK. read more

IBM Global Offers Zero Percent Financing of i-Based Gear

IBM Global Financing is offering zero percent financing to celebrate the 25th anniversary of the OS/400 and IBM i platforms in Australia and New Zealand. read more

Leasing Foundation Launches Education Consultation

The Leasing Foundation said it has launched a consultation process to understand the needs of the leasing and asset finance industry in terms of education. read more

Leaseurope: Q1 New Leasing Volume Low

Results from Leaseurope's Q1/13 survey showed that total new leasing volumes reported by the sample of firms were under €15 billion, as economic uncertainty prompts customers to postpone investment spending. read more

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