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Bond Market News
BNP Paribas buys majority stake in Dutch firm Dynamic Credit Group
September 16, 2021
BNP Paribas Asset Management announced on Wednesday that it has agreed to buy a majority stake in Dutch asset manager and specialist lender Dynamic Credit Group. As per the company statement, Dynamic Credit has assets under management of €9bn ($10.6bn) consisting primarily of Dutch mortgages, which BNP said had good growth potential. “Given their attractive risk-return profile and low capital charge under Solvency II, Dutch mortgages are a very attractive investment for institutional investors in the ongoing low interest rate environment. Investments in Dutch mortgages are expected to continue to grow steadily,” said BNP Paribas. The price of the transaction was not disclosed.
BNP’s 4.5% USD Perps traded 0.15 points up to 102.5 yielding 4.15%.
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