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GC Asia
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Whole biz ABS structures show it’s a seller’s market
Unlike other esoteric ABS asset classes, franchise securitization deals are still predominantly being crafted to favour issuers rather than adopting more conservative structures to attract investors. Sources say the strength of businesses through Covid-19 has allowed the sector to buck the trend.
16 Jun 2021 -
Blackbird aircraft ABS takes flight
Air Lease Corporation and Napier Park are working on a new aircraft securitization from their Blackbird platform after a four year hiatus, pushing the total sector volume just above $3bn.
15 Jun 2021 -
KKR launches aircraft loan servicing platform
Investment firm KKR announced the launch of AV AirFinance, a global commercial aviation loan servicer, on Friday. The launch comes as investor interest in US aircraft ABS grows as the buy side positions themselves early to take advantage of the recovery in the sector.
14 Jun 2021 -
US aircraft ABS en route to speedy recovery
The US aircraft ABS market is recovering at a faster pace than anticipated, bolstered by increasing vaccination rates and a pent-up desire to travel ahead of the summer months. However, the biggest driver for investor demand is the structural changes in recent deals, with pristine collateral, shorter debt coverage ratios and robust skin in the game.
10 Jun 2021 -
CLO investor Sancus leads wave of new managers
CLO investor Sancus Capital Management became a manager last week when it priced its debut deal. Pacific & Plains Capital, another newly formed CLO business, is also expected to join the list of CLO managers with a first deal on the horizon.
10 Jun 2021 -
Diamond prices cell tower ABS to fund acquisition
Diamond Communications priced a cell tower securitization on Tuesday afternoon, to finance a portion of its $1.6bn acquisition of Melody Wireless.
09 Jun 2021 -
Toyota returns with $1.2bn green ABS
Last week, Toyota revealed it was tapping the ABS market with a new deal backed by loans and leases for vehicles that meet its green bond framework. More specifically, the proceeds of the transaction goes towards funding new loans and leases for green vehicles.
08 Jun 2021 -
Goodleap preps first green home improvement ABS deal
GoodLeap last week, formerly called Loanpal until last week, is issuing the first ever ABS deal backed by a portfolio which includes home efficiency loans, according to a pre-sale report issued on Friday.
07 Jun 2021 -
Marketplace lenders prepare for ‘true lender’ repeal
A likely repeal of the Office of the Comptroller of Currency's 'true lender' rule reopens the gates of regulatory uncertainty for marketplace lenders. However, the industry is still confident lenders will be able to manage the risks of states challenging their bank origination model, considering the short period in which the rule has been in place.
03 Jun 2021 -
Investors feast in “Goldilocks” moment for subprime auto ABS
The securitization pipeline is filling up with a series of auto ABS deals, starting with AmeriCredit which is preparing a subprime loan deal for the second time this year and investors are keen to gorge on new deals.
02 Jun 2021
