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Basis Point Publishing Limited Launches Asia-Pacific Secondary Loan Composite
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HONG KONG, November 7, 2002 - Basis Point Publishing Limited, a subsidiary of Loan Pricing Corporation (LPC), a Reuters Company, an authoritative source of loan market information in the Asia-Pacific market today announced the launch of the Basis Point Asia-Pacific Secondary Loan Composite. Basis Point has teamed up with a group of 8 major banks including ABN Amro, Barclays, BNP Paribas, Citibank, Credit Lyonnais, HSBC, Standard Chartered and WestLB to provide loan investors and portfolio managers with weekly valuations for loans in the Asia-Pacific region. The composite will initially focus on countries with more liquid secondary markets including Australia, Hong Kong, Singapore and South Korea.
The service builds upon Basis Point's expertise covering and reporting on the Asia-Pacific markets and LPC's experience in promoting transparency and liquidity in the North American secondary loan market over the last decade. It also enhances LPC's presence in the European secondary market, where LPC delivers the LPC European Mark-to-Market Pricing Service, Euro-Secondary Market Pulse and other data, news and analytics. The new Asia-Pacific Secondary Loan Composite not only meets the needs of the expanding loan market in this area of the world but further combines strengths of Basis Point and its parent, LPC.
Commenting on the launch, Standard Chartered, Global Head of Distribution, Anton Martin said, " Greater transparency in the Asia-Pacific loan market is essential to the evolution of syndicated loans as an asset class. Standard Chartered views the wide spread distribution of secondary loan pricing data as a way of promoting greater transparency and liquidity in the Asia-Pacific secondary loan market".
Excited about the new offering, Michael Lawes, Managing Director of Basis Point, said, "We feel the combination of Basis Point's comprehensive coverage of the Asia-Pacific loan markets with LPC's experience in the secondary loan markets will enable us to provide information the secondary loan market needs to increase liquidity. Working with our partners, the composite will bring a new level of transparency to the Asia-Pacific secondary loan market."
Basis Point's parent company, LPC is currently working with the major banks in Europe (EMEA) and the Americas to provide indicative bid/offer prices to loan portfolio managers, CDO structurers, warehousers and investors, credit derivative investors, risk managers, traders and syndicators. The company continues to work with the more active European banks on a weekly basis to provide the loan investor community with timely, unbiased valuations. Using a system of electronic audits coupled with qualitative audits performed by LPC's staff of secondary loan analysts, LPC provides investors with confidential portfolio-wide mark-to-market loan valuations. These valuations will be distributed via LPC's secure loan platform LoanConnector as well as the weekly BasisPoint newsletter.
In 1992 at the request of a small group of buy-side customers, LPC first began collecting secondary loan market pricing data in the United States. In 1998 LPC launched a formal pricing service delivering weekly and monthly composites. Shortly thereafter LPC entered into a licensing agreement with the Loan Syndications and Trading Association and formed LSTA/LPC Mark-to-Market Pricing. The service now provides composites on approximately 2,000 tranches daily to over 125 institutions. These institutions are receiving monthly, weekly and daily pricing in their management of 175 funds/portfolios totaling approximately $200 billion in loan assets.
Through its Internet-based delivery platform, LoanConnector, Basis Point/LPC's Asia-Pacific Module currently provides real-time data, news and analytics for Australia/NZ, Hong Kong, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan and Thailand.
About Basis Point Publishing Limited
Founded in 1992, Basis Point Publishing Ltd provides news and historical data on the Asia-Pacific loan and bond markets. Working out of bureaux in Hong Kong and Singapore, its mission is to provide fast, comprehensive and complete information essential for all debt market players. Basis Point delivers real-time news and historical data via the LoanConnector secured website, while a weekly review of the markets is provided via our flagship basis point newsletter.
About Loan Pricing Corporation
Loan Pricing Corporation (LPC), a Reuters Company, has provided financial institutions around the world with the most complete and accurate information on bank loans since 1985. LPC's reach on loan market news and information spans across the United States, Europe, Eastern Europe, Middle East, Africa, Latin America and via subsidiary Basis Point Publishing Limited, Asia, with market news delivered via publications, on-line news services and databases. Loan Pricing Corporation (LPC) has earned its position as the authoritative source of loan market information and analysis by its constant attention to the loan industry and development of state-of-the-art products and services for bankers, borrowers, and loan investors.
About Reuters
Reuters (NASDAQ:RTRSY) (www.about.reuters.com) is the leading global provider of financial information, news and technology solutions to financial institutions, the media, businesses and individuals. Reuters strength is our unique ability to offer customers a combination of content, technology and connectivity. Our premier position is founded on continuous technological innovation and a reputation for speed, accuracy, integrity and impartiality. We have over 18,140 staff in 97 countries, including some 2,498 editorial staff in 198 bureaux serving approximately 150 countries, making it the world's largest international multimedia news agency. In 2001, Reuters had revenues of (pound)3.9 billion.
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