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PK Airfinance, Apollo To Buy $920 Mln Portfolio Of Secured Aviation Loans From Standard Chartered
(RTTNews) - PK Airfinance, an aviation lending platform backed by Apollo Global Management, LLC (APO), agreed on Monday to acquire the majority of an approximately $920 million portfolio of secured aviation loans from Standard Chartered plc (SCBFF.PK, STAC.L, STAN.L), with Apollo affiliates agreeing to purchase the balance of the portfolio.
The sale and transfer of the loans is subject to customary closing conditions and is expected to close year-end 2023.
Apollo's aviation business, including the PK Airfinance platform, serves as a go-to lender in the industry with over $40 billion of commitments to-date and current loan portfolio of $4 billion.
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Standard Chartered Q1 Profit Rises, Backs FY24 Outlook; Stock Up
Shares of Standard Chartered Plc were gaining more than 5 percent on the London Stock Exchange after the lending major reported Thursday higher profit in its first quarter, despite weak net interest income. The company further maintained its fiscal 2024 guidance.
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U.S. Silica To Be Taken Private By Apollo In $1.85 Bln Deal
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Standard Chartered Stock Up On Q4 Profit, Dividend Hike, $1 Bln Buyback
Shares of Standard Chartered Plc were gaining around 8 percent on London Stock Exchange after the British lending major on Friday reported significantly higher pre-tax profit in its fourth quarter, while it turned around to a profit on an after-tax basis. The results reflected higher operating income, even as net interest income was weak.
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Apollo Global Management Slips To Loss In Q2
Apollo Global Management Inc. (APO) reported Thursday a second-quarter net loss attributable to common stockholders of $2.05 billion or $3.53 per share, compared to net income of $649 million or $2.70 per share in the prior-year quarter.
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Thai Bourse May Halt Losing Streak On Thursday
The Thai stock market has moved lower in back-to-back sessions, slipping almost 15 points or 1.2 percent along the way. The Stock Exchange of Thailand now sits just beneath the 1,250-point plateau although it may stop the bleeding on Thursday.
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Australian Market Slightly Lower
The Australian market is slightly lower in choppy trading on Thursday, giving up some of the gains in the previous session, despite the broadly positive cues from Wall Street overnight. The benchmark S&P/ASX 200 is falling below the 8,950 level, with weakness in iron ore miners, energy and technology stocks partially offset by gains in financial stocks.
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Indonesia Shares Tipped To Open In The Green
The Indonesia stock market has moved higher in two of three trading days since the end of the two-day slide in which it had fallen almost 85 points or 1.1 percent. The Jakarta Composite Index now sits just above the 7,935-point plateau and it may add to its winnings on Thursday.
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