Jan
09
Jack Ma Debt Giant Grinds to Halt as China Curbs Micro-Loans
By-
Ant Financial has not sold any ABS in China in the past month
-
Regulators stopped approving certain consumer-loan ABS: people
After selling billions of dollars of debt backed by consumer loans last year, Chinese billionaire Jack Ma’s Ant Financial is pausing such fundraising as the government steps up curbs on micro lending.
The company hasn’t sold any asset-backed securities since early December, according to data compiled by Bloomberg and China Securitization Analytics. That marks an abrupt shift after it issued a record 238 billion yuan ($37 billion) in 2017 of such securities backed by consumer loans…
Jack Ma Debt Giant Grinds to Halt as China Curbs Micro-Loans
