Securitization

  • PGIM, CVC refi CLOs as negative rates persist

    CLO/CDO

    PGIM, CVC refi CLOs as negative rates persist

    The CLO refinancing wave has rolled through to the end of summer, with PGIM and CVC both refinancing deals from 2016 and 2017 respectively, as European markets continue to contend with negative rates.

  • Spreads tighten for pair of UK RMBS deals

    RMBS

    Spreads tighten for pair of UK RMBS deals

    Pepper Group subsidiary Optimum Credit has priced its Castell 2019-1 deal tight of guidance, while Yorkshire Building Society’s Brass No 8 RMBS was also priced, with senior notes tightening by about 5bp from initial price thoughts.

  • Disaster clean-up franchise brings inaugural ABS

    Securitization

    Disaster clean-up franchise brings inaugural ABS

    Servpro, a property restoration and disaster clean-up business, is preparing its debut whole business securitization, adding to the long list of first time issuers that have tapped the ABS market in 2019 to take advantage of cheap financing.

Comment

  • Green price ratchet bonds will soon be everywhere

    The sustainability-linked bond issued by Enel on Thursday opens a new chapter in the green finance market. Anyone tempted to think this will be a freak should think again. The idea is sure to catch on.

  • The perils of investing in used cars

    Moody’s has downgraded Ford Motor Credit Company from investment grade to a junk rating. It is not the only auto manufacturer to run suffer a prang, however, and as more securitization issuers move into the autos sector, UK market participants need to be wary of history repeating.

Latest Awards

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
1 79,059.65 260 10.66%
2 69,322.79 211 9.35%
3 57,179.44 186 7.71%
4 55,639.21 170 7.50%
5 54,982.88 174 7.41%