Latest news with #RDCL
L'Orient-Le Jour
05-08-2025
- Business
- L'Orient-Le Jour
New World Bank director for Lebanon meets with RDCL
The new World Bank director for Lebanon, Enrique Blanco Armas, met in Beirut with members of the Lebanese Business Leaders Gathering (RDCL), chaired since early June by Joumana Saddi Chaya, according to a RDCL statement published Tuesday. 'This meeting demonstrates the World Bank's decision to address the RDCL first among private sector organizations, aiming to hear its analysis of current economic challenges and reform priorities,' the organization said. In her remarks, the RDCL president stressed that 'the legal private sector has always been — and remains — the backbone of the Lebanese economy' and called for any international support to Lebanon to be 'directly directed to it.' Armas, for his part, presented the current World Bank programs 'in the energy and digital sectors, notably a solar project in northern Lebanon, as well as a $50 million digital transformation initiative,' without offering further details on these matters. Armas was appointed following an internal reorganization of the World Bank. He remains subordinate to Jean-Christophe Carret, who is now based in Amman.
LBCI
01-08-2025
- Business
- LBCI
Minister Jaber addresses confusion over taxes on foreign currency bond provisions
Finance Minister Yassine Jaber said there is clear confusion regarding the taxes due on provisions formed against government bonds in foreign currency. During a meeting with a delegation from the Lebanese Business Leaders Association (RDCL), headed by Dr. Fouad Zmokhol, Jaber emphasized that the matter remains within the scope of law enforcement. He noted that a study conducted by the Tax Revenue Directorate estimated the total value of all related operations at no more than $20 million, contrary to claims suggesting the amount reaches $1.2 billion. Jaber said the Directorate would issue clarifications to present the facts accurately. The delegation raised concerns about end-of-service indemnities and called for a framework for negotiation between production partners, emphasizing that losses should not fall solely on workers who have already lost a significant share of their income and deposits. They also discussed the impact of social security losses. On the matter of asset valuation, the delegation requested that companies be allowed to reassess their assets based on the current exchange rate without incurring high tax liabilities. They also urged the inclusion of a fair settlement of past tax obligations in the upcoming state budget through 2021 and called for the option to pay taxes using frozen dollar deposits at an appropriate rate. Jaber informed the delegation that the ministry is reviewing old tax accounts and has decided to form a follow-up committee to reach fair and practical solutions. The minister also met with Enrique Armas, the World Bank Group Country Manager for Lebanon, along with experts overseeing the implementation of the World Bank electricity sector loan. In a separate meeting with Armas and a team working on public sector retirement reform, Jaber reviewed the work of the committee tasked with studying public sector salaries. He stressed the need for coordination between the committee and the World Bank to align perspectives and develop a comprehensive view of salaries and pensions.
Time of India
05-05-2025
- Business
- Time of India
National Housing Bank expects RMBS firms to raise over Rs 10,000 crore in FY26
MUMBAI: The country's maiden residential mortgage-backed securities were listed on the market on Monday, and housing finance regulator NHB said it expects firms to raise over Rs 10,000 crore through the route this fiscal. The National Housing Bank-promoted RMBS Development Company ( RDCL ) listed the first-ever set of securities of Rs 1,000 crore maturing in 20 years with a coupon of 7.26 per cent payable monthly, on the NSE. NHB Managing Director and Chief Executive Sanjay Shukla said he expects up to 10 more such transactions in the fiscal year through which lenders will raise between Rs 10,000-12,000 crore. The listing done on Monday involves pass-through certificates of a pool of residential loans made by LIC Housing Finance , and the issue was fully subscribed. RDCL was set up in March by NHB to help home financiers access funding by giving up future receivables on a loan to investors. The move will also help term investors like pension funds and insurance companies will get investment opportunities. Shukla said the NHB is talking to other home financiers as well to pool-in securities for listing, and added that he expects another tranche of Rs 1,000 crore in a month. Meanwhile, Shukla said the NHB plans to raise up to Rs 60,000 crore through the bond route in FY26, up from Rs 48,000 crore done in FY25.
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Business Standard
05-05-2025
- Business
- Business Standard
India sees maiden RMBS listing; NHB expects cos to raise Rs 10K cr in FY26
The country's maiden residential mortgage-backed securities were listed on the market on Monday, and housing finance regulator NHB said it expects firms to raise over Rs 10,000 crore through the route this fiscal. The National Housing Bank-promoted RMBS Development Company (RDCL) listed the first-ever set of securities of Rs 1,000 crore maturing in 20 years with a coupon of 7.26 per cent payable monthly, on the NSE. NHB Managing Director and Chief Executive Sanjay Shukla said he expects up to 10 more such transactions in the fiscal year through which lenders will raise between Rs 10,000-12,000 crore. The listing done on Monday involves pass-through certificates of a pool of residential loans made by LIC Housing Finance, and the issue was fully subscribed. RDCL was set up in March by NHB to help home financiers access funding by giving up future receivables on a loan to investors. The move will also help term investors like pension funds and insurance companies will get investment opportunities. Shukla said the NHB is talking to other home financiers as well to pool-in securities for listing, and added that he expects another tranche of Rs 1,000 crore in a month. Meanwhile, Shukla said the NHB plans to raise up to Rs 60,000 crore through the bond route in FY26, up from Rs 48,000 crore done in FY25.
Economic Times
05-05-2025
- Business
- Economic Times
Housing finance firms to raise up to Rs 12,000 crore via RMBS in FY26
Housing finance companies are expected to raise Rs10,000-12,000 crore in the current financial year through listed residential mortgage-backed securities, structured by RMBS Development Company Ltd, a National Housing Bank-promoted entity similar to the likes of Freddie Mac and Fannie Mae. ADVERTISEMENT The fundraising will be done across seven to 10 deals in the current financial year, Sanjay Shukla, managing director of NHB said on Monday. RDCL, which structured one such deal last week, is in talks with a couple of housing finance companies. RDCL, in which NHB holds the largest stake of 39%, started operations in March 2025. In addition to structuring RMBS deals, RDCL's scope of activities involve providing liquidity support and credit enhancement, among others. Shukla was speaking at the sidelines of listing of India's first residential mortgage-backed securities (RMBS). This involved LIC Housing Finance raising Rs1,000 crore last week through pass-through certificates (PTC) maturing in 20 years at a 7.26% coupon, payable monthly. PTCs are debt instruments backed by assets like loans, which in this case was the housing loan portfolio originated by LIC of loan pools is a popular method among non-banking finance companies. But what sets this particular transaction apart is that price discovery was done through the bidding process on National Stock Exchange's electronic bidding platform.'When housing finance companies sell (loan portfolios) to banks at a pre-agreed rate, there is no price discovery. In this structure, there will be price discovery. The bidding will take place on the electronic bidding platform,' Shukla said. ADVERTISEMENT M Nagaraju, secretary – department of financial services, said that under such transactions, the cost of borrowing is expected to come down for housing finance companies, which will be passed on to the end borrower. 'Another major benefit will be to get long-term housing loans at a fixed rate.''Once PTCs are made available to retail investors, investment in this instrument is another option, where they can get monthly inflow,' Nagaraju said. ADVERTISEMENT In LIC Housing Finance's deal, the PTCs were issued through a special purpose vehicle and are rated AAA(SO) by CRISIL and Shukla also said that NHB is planning to raise Rs55,000-Rs60,000 crore through bonds in FY2026 compared with Rs48,000 crore in the previous financial year. ADVERTISEMENT (You can now subscribe to our ETMarkets WhatsApp channel)
