Saturday 1st August 2015
NEWS TICKER, FRIDAY, JULY 31ST: US bond markets expect a $900m issue from the Metropolitan St. Louis Sewer District as early as next year after its rate commission voted yesterday to back the district’s plan to tap the markets. The bonds will continue financing a $4.7bn capital program required by the Environmental Protection Agency (EPA) to keep sewers in St. Louis and St. Louis County from regularly overflowing into area creeks and rivers. Already, the district has put $600m toward sewer projects in St. Louis and St. Louis County. MSD customers can consequently continue to expect annual sewer bill hikes each summer. In 2012, the average customer paid $29 monthly. This month, bills rose to an average of $41. After this bond issue, the monthly sewer bill will cost the average household $61 by 2019 - JP Morgan has hired Lebo Moropa, giving the bank its first dedicated prime brokerage and equity finance presence in South Africa, reports Securities Lending Times. Former HSBC trader Moropa has joined the bank in Johannesburg and will focus on synthetic and cash prime brokerage and securities lending, including delta one and will report to Paul Farrell in London. Moropa was a delta one trader at HSBC and has worked for JP Morgan before– Apulia Finance has informed the Luxembourg Stock Exchange of its intent to issue a securitised paper, backed by residential mortgage loans originated by Banca Apulia. The issue date is August 6th and the deal is lead managed by BNP Paribas who is also joint arranger with Finanziaria Internazionale Securitisation Group. Swap counterparty in the transaction is Canadian Imperial Bank of Canada and the clearers are Euroclear and Clearstream. Funding is at three month Euribor with a spread of 0.40% before the step up date and 0.80% after the step up date. The deal is worth a combined €170m of which €153m are Class A asset backed floating rate notes due 2043; €6.79m Class B asset backed notes and €9,84m are Class C asset backed floating rate notes – all due 2043.

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Saiid Ghobadian appointed EMEA head of OpenCollateral at Citi

Thursday, 09 February 2012
Saiid Ghobadian appointed EMEA head of OpenCollateral at Citi Citi says Saiid Ghobadian has been appointed EMEA head of OpenCollateral, Citi's collateral management product solutions. The increased regulatory pressure coupled with the growth of the OTC derivatives market has resulted in an increased focus on collateral management and Ghobadian's appointment reportedly strengthens Citi's capabilities in this sector.  http://www.ftseglobalmarkets.com/

Citi says Saiid Ghobadian has been appointed EMEA head of OpenCollateral, Citi's collateral management product solutions. The increased regulatory pressure coupled with the growth of the OTC derivatives market has resulted in an increased focus on collateral management and Ghobadian's appointment reportedly strengthens Citi's capabilities in this sector. 

Ghobadian brings over 15 years of experience in financial services and technology as well as a deep expertise in developing innovative solutions to improve collateral efficiency. He joins from JP Morgan where he was in charge of product development for Securities Collateral Management in EMEA.

In his new role Mr. Ghobadian will be based in London and report to Fergus Pery, global head of OpenCollateral. He is responsible for product development, strategy and sales. 



Citi offers agnostic collateral management services through OpenCollateral which acts as a trusted agent, interacting with clients’ counterparties to deliver comprehensive and customizable solutions designed to help clients mitigate risk and improve return on assets.

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