London August 23 ' Loan Pricing Corporation (LPC), a Reuters subsidiary and source of loan market in...
London August 23 ' Loan Pricing Corporation (LPC), a Reuters subsidiary and source of loan market information in the Americas, Europe, Middle East and Africa, has acquired Hong Kong-based Basis Point Publishing Limited. The net assets of Basis Point on 31 March 2001 were $43,447.
The acquisition of Basis Point, a source of Asian debt market news and analysis since 1992, will expand LPC's coverage in the Asian markets and is intended to firmly position LPC as a premier provider of market information for the global commercial loan market. LPC will integrate Basis Point's data into its array of product offerings. These include LoanConnector, its internet-based delivery platform, which will then provide real-time tools and analytics throughout the Asia-Pacific region.
LPC has had a presence in Hong Kong since 1998, providing real-time access to Gold Sheets Late Breaking News, deal calendars and AsiaLoanMarket Pulse, a weekly, behind-the-scenes market wrap.
Jim Davis, LPC's president and chief executive officer, said: 'LPC will now be able to provide global loan market players with a one-stop internet solution in the quickly evolving loan market by combining our comprehensive coverage of the primary and secondary loan markets in the Americas and Europe with Basis Point's Asian debt market coverage.'
Michael Lawes, founder and publisher of Basis Point, said: 'Basis Point's news and historical data, coupled with LPC's delivery platform and analytical approach, creates an Asian service in a league of its own. The information and analytical tools of Basis Point and LPC will add discipline to the pricing process in Asia.'
52wk high 01/09/2000 1484p
52wk low 24/07/2001 702p
Ytd change -320p
% change -28.24%
1 yr total return -34.60%
Market cap £11609.64m
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Follows active fee cuts in June