Latest news with #RTL
Business Wire
6 hours ago
- Business
- Business Wire
Fidelis Investors Closes Second Rated RTL Securitization, FID 2025-RTL2, Illustrating Continued Demand Amid Tariff Volatility
NEW YORK--(BUSINESS WIRE)--Fidelis Investors, a leading alternative asset manager with over $1 billion in assets under management, today announced the closing of its second rated Residential Transition Loan (RTL) securitization, FID 2025-RTL2. The transaction marks another important step in Fidelis' mission to bring scale, structure, and transparency to the RTL market, while broadening institutional investor access to housing rehabilitation financing. It also demonstrates continued demand amid recent market volatility stemming from tariffs. Rated by Morningstar DBRS, FID 2025-RTL2 is a two-year revolving, $144.525mm securitization backed by 308 RTLs across 24 different lenders, led by Unitas Funding, LLC, a wholly owned subsidiary of Fidelis. Additional eligible RTLs may be added to the portfolio in future transfer periods, subject to the transaction's eligibility criteria. 'This second RTL securitization continues our mission to institutionalize the asset class while creating investor access to an underserved but essential segment of the housing market,' said Brian Tortorella, Managing Partner at Fidelis Investors. 'With a seasoned and standardized platform, Fidelis is building repeatable capital markets solutions that connect institutional demand to America's housing supply challenge.' 'Jefferies commends Fidelis' ability to drive best in class securitization pricing with a well-diversified orderbook,' said Michael Wade, Co-Head of Securitized Markets Group, Capital Markets at Jefferies. 'We look forward to continuing to support Fidelis' mission as they become a programmatic securitization issuer and mainstay in the capital markets ecosystem.' FID 2025-RTL2 follows the firm's inaugural securitization in February 2025 and was oversubscribed across all tranches, with both repeat participants and new investors joining the book. This strong demand reflects growing familiarity with RTLs as an asset class and confidence in the Fidelis platform. 'The market response to this transaction validates our approach and demonstrates that more investors are becoming comfortable with and excited about this asset class,' said Michael Tessitore, Managing Partner at Fidelis Investors. 'We're proud to bring another high-quality securitization to the market that serves both investors and communities.' The firm's second RTL securitization comes after a brief market slowdown earlier this year due to tariff-related disruptions that temporarily paused issuance across the securitization market. Activity has since normalized, and current yields are largely in line with pre-tariff levels. Fidelis' ability to execute another securitization so soon after its first reflects its long-term vision to become a programmatic issuer, offering investors repeatable access to this emerging asset class. Christopher Schmidt, Managing Director at Jefferies, agreed. 'We are pleased to be part of the ongoing growth of the Fidelis enterprise, as they continue to separate themselves as a premier leader in the RTL securitization, origination and asset management space,' he said. 'Whether held on the balance sheet or brought to market, we've been committed to the RTL space since 2013,' added Tortorella. 'Rated securitizations are a natural evolution for us, opening new investor channels while supporting liquidity and competitive financing terms for housing rehabilitation loans.' Jefferies served as sole lead manager and bookrunner. About Fidelis Investors Founded in 2020 and headquartered in Cranford, New Jersey, Fidelis Investors is an alternative asset manager serving institutional investors with strategies across mortgage debt, structured finance, asset-based lending, and real estate. Fidelis has invested approximately $4.5 billion through 16 Mortgage & Real Estate Debt Funds and continues to lead efforts to modernize access to housing-related credit with transparent, scalable solutions. About Jefferies Jefferies is a leading global, full-service investment banking and capital markets firm that provides advisory, sales and trading, research, and wealth and asset management services. With more than 40 offices around the world, Jefferies offers insights and expertise to investors, companies, and governments.
The Star
a day ago
- Business
- The Star
Philippine lawmaker seeks prioritisation of rice tariff law amendments
FILE PHOTO: A farmer walks along a paddy field on a rice terrace in Banaue, Ifugao province, the Philippines, on Saturday, Nov. 4, 2023. Rice prices have remained volatile, while the influx of cheap imported rice has displaced locally produced varieties. - Bloomberg MANILA: Las Piñas Rep. Mark Anthony Santos has urged colleagues in the House of Representatives to prioritise deliberations on proposed amendments to Republic Act No. 11203, or the Rice Tariffication Law (RTL), to ensure sustained availability of affordable rice in public markets. In a statement on Monday (July 21), Santos said the benefits promised under the RTL—such as lower rice prices and improved support for local farmers—have not materialised, highlighting the need for revisions to the law. Santos noted that rice prices have remained volatile, while the influx of cheap imported rice has displaced locally produced varieties. 'We have not felt the promised benefits of the Rice Tariffication Law. Rice prices failed to decrease significantly, and our farmers' lives became harder,' he said. According to Santos, amending the law would enable the government to prioritise local production, restore the National Food Authority's (NFA) authority to purchase unhusked rice from local farmers, and maintain a buffer stock that could be utilised beyond emergencies. During the 19th Congress, the House approved on third reading a proposal to amend the RTL, which seeks to restore some of the NFA's functions. House Bill No. 10381 was approved in May 2024, with 231 lawmakers voting in favour, three against, and one abstaining. House leaders, including 19th Congress Speaker Ferdinand Martin Romualdez, believe the amendments could lower rice prices by P10 (US$0.18) to 15 per kilogram. However, the bill faced opposition in the Senate due to concerns that restoring some of the NFA's mandates might lead to renewed corruption. Quezon 1st District Rep. Wilfrido Mark Enverga, former chair of the House committee on agriculture and food, assured that this would not happen since the NFA would play a limited role in importation. Enverga also said they intended to brief senators on the proposal, noting he understands the concerns raised by Villar and other senators. Villar, along with several senators in the 19th Congress, warned against amending RA 11203, noting that the law barred the NFA from importing and selling rice precisely due to rampant corruption within the agency. For the 20th Congress, Romualdez has proposed to 'strengthen the regulatory powers' of the NFA through House Bill (HB) No. 1, also known as the proposed Rice Industry and Consumer Empowerment (RICE) Act. According to a copy of the bill, the NFA's regulatory authority would be reinforced by amending Republic Act No. 8178, or the Agricultural Tariffication Act, which was later amended by the RTL. Romualdez said House Bill No. 1 and House Bill No. 14, the proposed Philippine Crop Insurance Corporation Act, will support the administration's food security programme and aid the Benteng Bigas Meron Na initiative, which is anchored on President Ferdinand Marcos Jr.'s campaign promise to bring down rice prices to 20 per kilogram. - Philippine Daily Inquirer/ANN
Saba Yemen
3 days ago
- Business
- Saba Yemen
Majority of French Citizens Want PM François Bayrou to Resign Over Austerity Budget Plan
Paris - Saba: A new opinion poll has revealed that over 59% of French citizens want Prime Minister François Bayrou to resign after he unveiled the 2026 draft budget this week, which includes sweeping austerity measures aimed at reducing the country's public deficit. The survey, conducted by Ipsos BVA for French radio station RTL and polling over 1,000 people between July 16–17, found that only 20% of respondents expressed support for Bayrou. Meanwhile, 44% favored dissolving the National Assembly, and 34% supported a motion of no confidence against the government. However, 41% said they were concerned about the potential collapse of the government. On Tuesday, Bayrou presented his plan to cut the public deficit by over €43 billion (approximately $49.8 billion) through a range of measures, including new taxes on the wealthy, decoupling pensions and social benefits from inflation rates, and cutting healthcare and local authority spending by more than €10 billion. He also proposed eliminating two public holidays, including Easter Monday and Victory in Europe Day (May 8). In response to the controversial proposal, both right- and left-wing opposition parties signaled the possibility of submitting a motion of no confidence that could bring down the government. In a separate poll conducted by Odoxa–Backbone Consulting for Le Figaro, 87% of respondents said the proposed budget would weaken their purchasing power, while 77% believed it would lead to a deterioration in the quality of public services. Whatsapp Telegram Email Print
Daily Mirror
5 days ago
- Daily Mirror
Michel Platini has 20 trophies and medals from legendary career STOLEN in home invasion
The property of football legend Michel Platini was burgled early this morning with 20 of his prized trophied stolen. The former French captain - and star of Juventus and Saint Etienne - was woken by the burglar at around 4.30am. He saw a 'hooded individual dressed in black' in front of his bay window. When he went outside to his garden shed at his home near Marseille in the Bouches-du-Rhône department. he saw it had been broken into. Around 20 of his trophies and medals from his glittering career were taken. The Marseille prosecutor's office "confirmed the opening of an investigation into aggravated burglary committed at Michel Platini's home' to French media group RTL. The local gendarmerie brigade is handling the initial investigations. Platini, 70, is a controversial former President of UEFA. Following his retirement as a player, Platini was the France national team coach from 1988 to 1992. There will be more to follow on this breaking news story and Mirror Sport will bring you the very latest updates, pictures and video as soon as possible. Please check back regularly for updates on this developing story.
Straits Times
5 days ago
- Straits Times
Frenchman on Indonesia death row for years released from Paris prison
Find out what's new on ST website and app. Serge Atlaoui is greeted by his lawyer Richard Sedillot as he leaves prison on conditional release. PARIS – A Frenchman who spent almost two decades on death row in Indonesia over drug offences before being returned to France left prison on July 18 after being granted a conditional release. Serge Atlaoui, a 61-year-old welder from Metz in eastern France, was flown back to France in February after being on death row in Indonesia since 2007. He was greeted by his lawyer, Mr Richard Sedillot, as he walked out of the gate of Meaux prison near Paris, wearing a white T-shirt and grey trousers. 'He will be able to breathe the freedom that he waited for for all these years,' his wife, Ms Sabine Atlaoui, told RTL broadcaster shortly before his release, which she called 'unbelievable'. She has not yet 'fully realised' that her husband 'is back and will be with us again every day', she said. The father of four had his sentence adapted by the French courts to 30 years' imprisonment and then was approved for conditional release. 'The story of Serge Atlaoui, who was sentenced to death, is a life lesson,' Mr Sedillot said. 'His resilience, his courage, his patience and his humanity are lessons for all of us.' Top stories Swipe. Select. Stay informed. Singapore 30% of aviation jobs could be redesigned due to AI, automation; $200m fund to support workers: CAAS Singapore HSA looking to get anti-vape cyber surveillance tool with AI capabilities Singapore Alleged Kpod peddler filmed trying to flee raid in Bishan charged with 6 offences Singapore NTU upholds zero grade for student who used AI in essay; panel found 14 false citations or data Singapore Character counts as much as grades: Desmond Lee tells students after a class on race and culture Singapore Residents in South West District get help to improve employability, find career opportunities Life Kinokuniya opens third bookstore at Raffles City, weeks ahead of schedule Business DBS shares rally to a new record as STI clocks yet another high Diplomatic pressure Atlaoui was arrested in 2005 at a factory in a Jakarta suburb where dozens of kilogrammes of drugs were discovered, and accused of being a 'chemist' by the authorities. He has always denied being a drug trafficker, saying he was installing machinery in what he thought was an acrylic factory. Initially sentenced to life in prison, he had his sentence reviewed by Indonesia's Supreme Court and changed to death on appeal. He was due to be executed alongside eight others in 2015 but was granted a reprieve after Paris applied pressure and the Indonesian authorities allowed an outstanding appeal to proceed. Atlaoui's case attracted attention in Indonesia and in France, where supporters saw him as a symbol of the fight against the death penalty. France abolished capital punishment in 1981. Pressure applied by the French government was key to her husband's release, Ms Atlaoui said. 'It's very clear that diplomatic efforts during all those years allowed my husband to return,' she said.
