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GC Asia
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Banca Progetto adds to Italian CQS securitization flow
Banca Progetto, an online bank backed by Oaktree Capital, is bringing an Italian consumer transaction securitizing payroll-deductible loans, with the majority originated slightly before or during the pandemic. The issuer has mandated BNP Paribas on the transaction.
19 Apr 2021 -
Project Zeus: Greece brings first non-performing energy debt securitization
Public Power Corporation (PPC), the largest utilities provider in Greece, has launched a first-of-its-kind programme securitizing missed electricity payments with the help of Deutsche Bank.
15 Apr 2021 -
‘Trench warfare’ as vultures swoop on Irish NPLs
Private equity "vulture funds" are tightening their grip on Ireland after a Covid-19 parliamentary bill opened up more mortgages for repossession. But legal practitioners are working with non-profits to stop PE firms from “scraping the barrel” of defaulted mortgage debt.
15 Apr 2021 -
Oodle to sell excess spread notes as auto ABS compresses
Oodle Car Finance is selling further down the capital structure than ever before with its latest Downson auto ABS. It has added excess spread notes to the offering as well as a full stack of principal-backed notes following spread compression in auto ABS driven by scarcity.
14 Apr 2021 -
Buyers eye UK retail assets as high street reopens
With the UK opening up high street retail on Monday, investors are said to be eyeing retail real estate for opportunities. But the market, hit hard by the pandemic, will be slow to recover – with Newcastle’s Metrocentre becoming a prominent example of the future for shopping centres after the pandemic.
12 Apr 2021 -
EU reboots NPL rules as bad debt looms
Long-awaited amendments to European securitization law come into force on Friday, which should make non-performing loans securitization easier at a time when bad debt levels are set to rocket. Tom Brown reports.
08 Apr 2021 -
German fintech Auxmoney secures €250m from Citi, Chenavari
German fintech lender Auxmoney has nabbed another round of funding from Citigroup and Chenavari Investment Managers, receiving €250m in total.
08 Apr 2021 -
Debut Finnish issuer enters auto ABS market
Debut Finnish issuer LocalTapiola Finance has mandated BNP Paribas for its first auto ABS transaction, bringing a single offered tranche with a pre-set 70bp coupon over one-month Euribor on offer.
07 Apr 2021 -
Revised Taxonomy will hinder green bonds
The European Commission’s draft Taxonomy for Sustainable Activities will stymie green bond issuance as it’s based on an unfair system that excludes mortgages on many countries’ most energy efficient buildings.
06 Apr 2021 -
Paragon jumps ahead on phase-out of non-green BTL mortgages
The UK government is planning to tighten the energy efficiency ratings required for buy-to-let mortgages, phasing in the changes through to 2028, but some mortgage lenders are implementing the rules early. The result could mean more collateral for green structured finance transactions as well as a lower risk of default.
06 Apr 2021
