Securitization - European Archive

  • Banca Progetto adds to Italian CQS securitization flow

    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.

  • ‘Trench warfare’ as vultures swoop on Irish NPLs

    ‘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.

  • Oodle to sell excess spread notes as auto ABS compresses

    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.

  • Buyers eye UK retail assets as high street reopens

    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.

  • EU reboots NPL rules as bad debt looms

    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.

  • Debut Finnish issuer enters auto ABS market

    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.

  • Revised Taxonomy will hinder green bonds

    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.

  • Paragon jumps ahead on phase-out of non-green BTL mortgages

    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.

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