Securitization - Article Archive

  • Corporate and bank green bonds: focus on issuers grows

    Corporate and bank issuers are taking up the SRI bond gauntlet, providing the market with the kind of names that have long been the goal of its biggest cheerleaders.

    • 29 Sep 2017
  • Confident SRI bond market looks to state for next leg up

    With France’s green OAT and record issuance this year, the green and social bond market has emerged from obscurity into the bright lights of mainstream capital markets. Treasurers and CFOs are, by now, aware of what the market has to offer. But to channel capital on the scale required to limit global warming to 2C, the market must adapt and innovate to meet investors’ need for clarity, and to incentivise issuers. Lewis McLellan reports.

    • 29 Sep 2017
  • Waking up to reality: the race to put numbers on climate risk

    Sustainability is a term used liberally and vaguely in the financial world. But it has a precise meaning: living so that we do not make it harder for future generations to live. That principle is violated by today’s economy, including its financial markets. But little by little, the heart of markets — the decisions investors make — is facing up to what it has long repressed. Jon Hay reports.

    • 29 Sep 2017
  • Green-aware investors take the lead in driving SRI growth

    Responsible investing — and green and social bonds in particular — are still not a mass market among US investors. But the fund managers leading the charge are optimistic: consciousness has moved a long way in a few years.

    • 29 Sep 2017
  • Canadian cross-border auto ABS takes spotlight

    This week saw a flurry of Canadian cross-border auto ABS activity, with Scotiabank pricing a dollar-denominated auto deal on Wednesday and Bank of Montreal (BMO) filing for a debut offering.

    • 28 Sep 2017
  • CMBS delinquencies drop for third straight month

    The US CMBS delinquency rate fell in September, according to Trepp data, with the performance of outstanding deals beginning to improve after the market digested a wave of maturing pre-crisis deals.

    • 28 Sep 2017
  • More loans needed to feed green ABS push

    There is a potentially substantial investor base ready to invest in green ABS, but there are still too few assets to put into pools for the market to truly flourish.

    • 28 Sep 2017
  • Buy side buoyant despite Brexit

    ABS buyers from the UK and continental Europe are operating as normal, with little concern for the Brexit cliff edge around the corner, according to panellists at the TSI Congress 2017 in Berlin.

    • 28 Sep 2017
  • BPAA prints T2, set to enter covereds

    Banca Popolare Dell’alto Adige (BPAA), which issued its first public tier two deal on Thursday, expects to launch a covered bond programme next year and become a ‘frequent issuer’ in the capital markets.

    • 28 Sep 2017
  • Eurozone not ready for normalization yet says ECB’s Praet

    Despite rampant market speculation that the European Central Bank (ECB) is gearing up to unveil its tapering programme in October, Peter Praet, member of the executive board of the ECB, indicated that the bank is not ready yet to commit to monetary normalisation.

    • 28 Sep 2017
  • Diamond Resorts adds to growing pipeline of esoteric ABS

    Diamond Resorts International is marketing its first timeshare deal of 2017, amid interest from ABS market participants for off-the-run asset classes following last week’s ABS East Conference.

    • 27 Sep 2017
  • Legacy RMBS holders hit by more trustee action

    US Bank has held onto a chunk of cash in a pre-crisis Lehman Brothers RMBS deal of which it is a trustee to pay potential legal costs relating to the bonds, three months after a similar move from Wells Fargo rocked the market.

    • 27 Sep 2017
  • AT1 reset spreads come into sharper focus

    With central banks peeling back from accommodative monetary policy, investors are looking closely at the risk that additional tier one (AT1) bonds are left outstanding after their first call dates.

    • 27 Sep 2017
  • Italian ABS issuers seek cheap funding in hot market

    The ABS market has two Italian trade to consider this week, one a secondary re-offer of an RMBS transaction from Banco Populari di Bari and the other the latest in Agos Ducato’s Sunrise consumer loan series, with both issuers looking to take advantage of rampant demand and tight pricing conditions.

    • 27 Sep 2017
  • BRI opens up ABS opportunities, say experts

    As the Belt and Road Initiative (BRI) opens up investment opportunities in emerging markets, it also exposes participants to high credit risks. But instead of seeking insurance coverage, some bankers are turning to securitization for an answer — a move that can lower risk and accelerate return on capital.

    • 27 Sep 2017
  • CLO investors lever up in flat credit curve

    With an increasing amount of leverage available in the CLO market, hedge funds are creeping up the CLO capital stack to buy higher rated bonds, while insurers slip down the capital structure to buy riskier paper.

    • 26 Sep 2017
  • Greenworks closes first ever commercial PACE deal

    Commercial Property Assessed Clean Energy (PACE) lender Greenworks Lending closed the first ever securitization backed by mid-sized commercial PACE assets on September 25 and plans to become a frequent issuer in the ABS market.

    • 26 Sep 2017
  • Comptroller sees “cracks” in MPL performance, urges Congress to clarify Madden

    Acting Comptroller of the Currency Keith Noreika warned in a Monday speech of the rising delinquency rates for unsecured consumer loans originated by marketplace lenders, and called on Congress to take a stance on the Madden versus Midland case.

    • 26 Sep 2017
  • BMW's auto ABS races to new post-crisis tights

    BMW Bank has become the latest German auto issuer to break post crisis ABS tights with its most recent Bavarian Sky deal.

    • 26 Sep 2017
  • McDonnell’s credit card rule would hurt borrowers

    Despite its noble intentions, the UK Labour Party’s plan to limit the total amount of interest and charges which credit card lenders can charge will cut access to credit and limit the flexibility for borrowers.

    • 26 Sep 2017
  • EBRD lends to CaixaBank to fund Moroccan SMEs

    The European Bank for Reconstruction and Development is to lend Dh217m (€20m) to CaixaBank to fund small and medium enterprise (SME) lending in Morocco.

    • 26 Sep 2017
  • Second charge loans likely to appear in more UK RMBS

    Second charge mortgage lending is growing rapidly in the UK, with market sources expecting it to become more common in UK RMBS transactions this year.

    • 26 Sep 2017
  • Global Jet preps ABS debut

    Global Jet Capital, a private aircraft financier, is looking to issue its first securitization backed by a portfolio of aircraft leases and loans, following an acquisition of corporate aircraft loans from GE Capital in 2015.

    • 25 Sep 2017
  • More commercial real estate lenders turn to CLO product

    Two commercial real estate CLOs are understood to be in the pipeline following a bumper deal from Prime Finance last week, in what has been a hot year for the asset class.

    • 25 Sep 2017
  • CFPB lawsuit, potential rating downgrades add to NCSLT struggles

    National Collegiate Student Loan Trust (NCSLT), a private student loan trust, could see a swathe of downgrades from Fitch across at least 12 ABS transactions, following a proposed consent judgment filed by the Consumer Financial Protection Bureau (CFPB) last week.

    • 25 Sep 2017
  • Refresco cuts euros and adds sterling to term loan ‘B’

    Drinks bottle maker Refresco has pared back the size of the euro tranche of a term loan ‘B’ and added a sterling portion as it looks to wrap up commitments for the deal on Tuesday.

    • 25 Sep 2017
  • Labour attacks UK credit card rates

    A pledge by the Labour Party’s shadow chancellor John McDonnell to limit credit card interest payments poses a threat to credit card lenders and to investors in UK credit card ABS.

    • 25 Sep 2017
  • Together sees strong demand for first RMBS

    The debut public RMBS from Together Finance, formerly Jerrold Holdings, saw strong levels of oversubscription and tight pricing across the capital stack, once again strong demand and favourable pricing available for issuers in the securitization markets.

    • 25 Sep 2017
  • Investors embrace Santander UK prime RMBS return

    Santander UK’s master trust securitization was greeted with acclaim this week as it became the latest issuer to return to the securitization market ahead of the expiry of the Bank of England’s term funding scheme (TFS) next year.

    • 25 Sep 2017
  • Hurricanes dent CMBS demand in busiest month of the year

    The CMBS market has softened this month as insurance companies pull back from the primary buying in anticipation of a heavy flow of hurricane related claims, leading to spreads widening as issuers bring a raft of new deals to the market.

    • 21 Sep 2017
  • Bank of the West makes auto ABS return

    Bank of the West is in the market with a prime auto deal that pools riskier loans compared to its previous transactions.

    • 21 Sep 2017
  • Why Mexico’s cat bond won’t pay out yet

    The devastating earthquake that hit Mexico this week could well mean a pay-out from a World Bank catastrophe bond issued in early August that provided the country with insurance protection against such a disaster. But Mexico’s chosen structure for the bond means that any cash payment is unlikely to be made for at least 30 days, while more data is collected.

    • 21 Sep 2017
  • Mattel loosens debt covenants after Toys ‘R’ Us bankruptcy

    Toymaker Mattel has loosened the terms of its revolving credit facility for the second time this year after key buyer Toys ‘R’ Us filed for chapter 11 bankruptcy on Monday.

    • 21 Sep 2017
  • Ford euro auto deal keeps spreads tight

    Ford sold its latest German auto ABS transaction this week, as spreads on European paper continue to hover at post-crisis tights.

    • 21 Sep 2017
  • Cross River taps Schumer staffer for policy gig

    Cross River Bank has tapped Phil Goldfeder, a former staff member with New York Senator Charles Schumer, to lead its government affairs team.

    • 21 Sep 2017
  • Issuers look to rekindle US interest for sterling ABS revival

    Before the Bank of England’s easy money schemes, UK issuers were reliant upon a deeper base of US buyers to get deals over the line. With the end in sight for the BoE’s Term Funding Scheme (TFS), sellers are looking to restore the link between the US and the UK markets to support sterling issuance.

    • 21 Sep 2017
  • Neuberger Berman closes $1.1bn PE debt fund

    New York investment manager Neuberger Berman has closed a new $1.1bn fund that will target the secured and unsecured debt of private-equity backed US companies.

    • 20 Sep 2017
  • Investors count cost of Toys ‘R’ Us bankruptcy

    A hastily arranged bankruptcy financing for Toys ‘R’ Us has left investors analysts scrambling to understand the impact on the company’s corporate and real estate debt.

    • 20 Sep 2017
  • Scotiabank eyes US buyers with new auto deal

    Scotiabank is looking to woo US investors with a dollar denominated auto loan securitization, as demand for Canadian cross border ABS heats up and pricing lures Canadian banks to the market.

    • 20 Sep 2017
  • US buyers clamour for Virgin RMBS

    Virgin Money’s first prime UK RMBS deal of the year was well received by domestic buyers, but demand was particularly healthy in the US, with the dollar tranche of the deal heavily oversubscribed.

    • 20 Sep 2017
  • Investors give Mercedes-Benz ABS easy ride

    Chinese investors warmly welcomed Mercedes-Benz Auto Finance’s second outing this year in China’s securitization market, helping the originator raise Rmb4.98bn ($760m) from the senior tranche of its deal.

    • 20 Sep 2017
  • Low trigger AT1s popular after Popular

    Investors have largely discredited the idea that the distance between an additional tier one (AT1) trigger point and a bank’s reported capital position is a clear indication of risk, but banks continue to profit from a distinction between high and low triggers.

    • 20 Sep 2017
  • Watch middle market heat, warns Cerberus MD

    Speakers at ABS East in Miami on Tuesday highlighted the heat in middle market lending, as new funds chase yield in the sector with increasingly aggressive deal terms and financing methods.

    • 19 Sep 2017
  • Alternative data could reshape SLABS landscape

    New and alternative sources of data beyond FICO and other traditional credit scoring metrics have the potential to dramatically alter the landscape for student loan ABS, according to speakers on day three of ABS East.

    • 19 Sep 2017
  • Toys‘R’Us woes should prompt CLO managers out of retail

    Toys‘R’Us has filed for bankruptcy protection in the US and Canada as it attempts to restructure its debt. Its woes should be another hint to CLO managers that its time to cycle out of specialist retail exposures.

    • 19 Sep 2017
  • EBA proposes securitization risk transfer reform

    The European Banking Authority has published a discussion paper looking to harmonise the supervision of risk transfer in securitization across the EU.

    • 19 Sep 2017
  • Primary euro CLO market restarts

    Investors were finally offered a crack at new European CLOs this week, with offerings priced from Tikehau Capital and Accunia.

    • 19 Sep 2017
  • BAML argues for ABSPP continuation

    Analysts at Bank of America Merrill Lynch have argued the European Central Bank keep its asset backed purchase programme running in 2018 — a contrarian position given the market consensus that it is likely to end this year.

    • 19 Sep 2017
  • Student loans set to impact whole spectrum of consumer debt

    Accelerated growth of student loan debt is set to impact virtually every consumer debt segment in the US, as what has been called a growing loan bubble shifts historical patterns of homeownership nationwide, said speakers on a consumer credit panel on day two of ABS East.

    • 18 Sep 2017
  • Gosforth gathers strong dollar demand despite Miami meet

    Virgin Money's new UK RMBS, Gosforth Funding 2017-1, saw strong demand for both sterling and dollars in its new deal, despite much of the US market heading to Miami for IMN's ABS East conference.

    • 18 Sep 2017
  • Latham hires veteran structured finance lawyer

    Latham & Watkins said it had hired Simeon Rudin, a former partner at Freshfields and former head of the firm's structured and asset finance team in London.

    • 18 Sep 2017
  • Greenworks set to open commercial PACE market

    Commercial property assessed clean energy (PACE) lender Greenworks Lending is preparing to issue the first ever commercial PACE securitization.

    • 18 Sep 2017
  • ABS market descends on Miami as Irma fails to dent attendance

    The securitization market is hitting Miami Beach again this year in force, despite early concerns that Hurricane Irma would strike a blow to attendance, with IMN still expecting heavy participation from more than 4,000 registered attendees.

    • 18 Sep 2017
  • Manager risk as important as sector risk, say CLO investors

    CLO investors highlighted the importance of working with the right manager, as well as keeping a close eye on sector risks, in panel discussions at ABS East in Miami on Monday.

    • 17 Sep 2017
  • CLO buyers see sector, manager risk as equal

    CLO investors highlighted the importance of working with the right manager, as well as keeping a close eye on sector risks, in panel discussions at ABS East in Miami on Monday.

    • 17 Sep 2017
  • QCLOs, CFPB reform on agenda in era of reg loosening

    The headline panel on day two of ABS East on Monday kicked off with a wide ranging discussion on deregulation in the Trump era, with congressman Andy Barr (R-KY) telling ABS market participants to expect another push for a “qualified” CLO and a reining in of the powers of the Consumer Financial Protection Bureau (CFPB).

    • 17 Sep 2017
  • Solar market gaining momentum, but trade case looms

    The market for rooftop solar finance is growing as the sector matures and more investors grow comfortable with the asset class, but a negative outcome for an International Trade Commission case has the potential to throw a wrench in the works according to speakers at ABS East in Miami on Monday.

    • 17 Sep 2017
  • CMBS snaps up loans as community banks pull back

    With US regulators keeping a close eye on commercial real estate lending concentrations in the nation’s banks, some smaller institutions are pulling back from the sector, allowing the CMBS market to step in and snap up loans coming up for refinancing.

    • 17 Sep 2017
  • CFPB draws more flack as uncertainty lingers

    The Consumer Financial Protection Bureau is a source of frustration for many attendees at this year’s ABS East, with a Monday morning panel complaining about the consumer watchdog for heightening market uncertainty via vague guidance on rules and heavy handed enforcement, even as hopes for deregulation increase.

    • 17 Sep 2017
  • ABS market mulls holding on to long feared rules

    Regulatory concerns are a perennial topic of discussion at securitization conferences, but at ABS East in Miami this week it’s different: with some analysts predicting CLO volumes could challenge the record breaking 2014 figures, it’s the potential rollback, rather than rollout, of regulation that is prompting discussions.

    • 17 Sep 2017
  • Bari RMBS deal faces some market scrutiny

    A secondary reoffer of RMBS notes from Banca Popolare di Bari hit the euro pipeline last week, but investors are cautious about the notes given the noise surrounding Italy this year.

    • 15 Sep 2017
  • Land Securities pockets £1bn, buys back old bonds

    After Monday’s dual tranche offering from Unilever, the sterling corporate bond market paused ahead of Thursday’s Bank of England Monetary Policy Committee.

    • 15 Sep 2017
  • Get real on climate risk, investors tell banks

    A hundred investors managing $1.8tr of assets have signed a letter calling on banks to say more about how they are managing the risk of climate change, and to publish a strategy saying how they support the goals of the Paris Agreement.

    • 14 Sep 2017
  • Expect good times to roll once Cordray departs — panel

    Panelists at iGlobal Forum’s Specialty Finance Conference in New York predicted looser regulation and less oversight by the Consumer Finance Protection Bureau (CFPB) once the term of director Richard Cordray comes to an end.

    • 14 Sep 2017
  • Canadian pension ploughs $300m into US CLO equity

    Healthcare of Ontario Pension Plan has invested $300m in a new partnership with US CLO manager CIFC, which will finance the risk retention requirements for a potential $7.5bn of future CLOs.

    • 14 Sep 2017
  • European auto ABS market revs post summer engines

    The European auto ABS market is speeding into autumn with two new deals hitting the pipeline in the same week that Santander Consumer priced its latest offering.

    • 14 Sep 2017
  • UK lenders set to rush back to securitization as TFS ends

    UK mortgage lenders are positioning themselves to re-enter the securitization market next year, as they wean themselves off the Bank of England’s Term Funding Scheme (TFS), which is slated to end in February 2018.

    • 14 Sep 2017
  • OCC still at 'discussion stage' for fintech bank charter

    Acting Comptroller of the Currency Keith Noreika told attendees at the Finovate Fall conference in New York that a special purpose banking charter for fintech companies is still being developed, but is confident that his replacement would take up the cause.

    • 13 Sep 2017
  • Goldman subsidiary scoops up $2.4bn in Fannie mortgages

    MTGLQ Investors, a subsidiary of Goldman Sachs, has bought $2.4bn of mortgages from Fannie Mae, as investors eye the attractiveness of non-performing and re-performing mortgage credit in a strengthening US housing market.

    • 13 Sep 2017
  • Former Deutsche trustee surfaces in buyside ABS role

    Deutsche Bank's former head of Americas for global transaction banking and corporate trust sales has joined Alexandria Capital as a managing principal in alternatives and structured products.

    • 13 Sep 2017
  • Placed euro ABS issuance rises to €38.6bn in second quarter

    European primary ABS had an active second quarter, according to the latest figures from the Association for Financial Markets in Europe (AFME), with €71.6bn of ABS paper issued and €38.6bn placed with investors.

    • 13 Sep 2017
  • Investors put cash out for harvest time in FIG

    Bank debt investors have stood ready to take on a barrage of deals in multiple currencies this week, and there is little sign that they have reached their limits.

    • 13 Sep 2017
  • Barclays hires Goldman asset finance banker

    Barclays has hired a senior banker from Goldman Sachs to lead its asset finance trading effort, as the bank continues its push to build out its corporate and investment banking operations.

    • 13 Sep 2017
  • Hyundai’s China JV shrugs off politics to sell ABS

    Beijing Hyundai Motor Group has completed its second securitization in China this year, selling a Rmb3.5bn ($535.3m) two tranche deal on September 12. While the transaction’s timing coincided with rising political tensions between China and South Korea, investors remained undeterred.

    • 13 Sep 2017
  • Post Advisory to join CLO manager ranks as market booms

    Asset management firm Post Advisory Group said on Tuesday that it will build a US CLO management business, to be led by the former head of Alcentra’s US loan business, as deal volumes race past last year’s figures.

    • 12 Sep 2017
  • US CMBS off to the races despite true sale uncertainty

    US CMBS issuers are prepping five deals totalling about $4.4bn this week, as the market ploughs on despite looming uncertainty over the way sponsors deal with risk retention rules.

    • 12 Sep 2017
  • Subprime ABS buoyed by skin in the game — S&P

    Subprime auto ABS performance is holding up, said analysts at S&P Global Ratings this week, with transactions weathering the recent spate of loan delinquencies thanks to skin in the game on the part of the issuers.

    • 12 Sep 2017
  • Goldman first true challenger to UK heavyweights

    For years there's been talk of online lenders and challenger banks disrupting the UK banking sector, but reports that Goldman Sachs is ready to plant its flag in the UK savings and consumer lending market is the biggest challenge established UK giants are likely to face.

    • 12 Sep 2017
  • Cat bonds recover after prices plummet ahead of Irma

    The catastrophe bond market is retracing losses this week following a steep plunge in the price of the insurance linked securities in the run up to Hurricane Irma.

    • 12 Sep 2017
  • High yield issuer turns to RMBS for the first time

    A debut non-conforming UK RMBS deal from Together Financial Services, formerly Jerrold Holdings, is being marketed to investors this week, the first public RMBS from the specialist lender.

    • 12 Sep 2017
  • Mercedes-Benz races towards new China ABS deal

    Mercedes-Benz Auto Finance is gearing up for its second deal in China’s securitization market this year as it beefs up its operations in the Mainland.

    • 12 Sep 2017
  • Loan fund outflows, refi slowdown could spur new CLOs

    A fifth straight week of outflows from leveraged loan funds and a slowdown in CLO refinancing activity could further boost the new issue CLO market, which enjoyed its second busiest month of the year so far in August.

    • 11 Sep 2017
  • Lending Club readies first self-sponsored prime loan ABS

    Lending Club is making its way back to the securitization market with a prime consumer loan deal.

    • 11 Sep 2017
  • IMN to push on with ABS event, will pitch in support for city

    IMN is giving the green light to securitization market participants planning to attend this year’s ABS East conference in Miami Beach, and is set to host officials from the city and will organize events at the conference in support of the recovery from Hurricane Irma.

    • 11 Sep 2017
  • Scandi ABS issuer returns to market

    Nordax is back in the market with a new consumer ABS deal backed by a pool of Norwegian consumer loans.

    • 11 Sep 2017
  • Record euro CLO market heads for strong autumn

    European CLO new issuance this year has already broken 2.0 era records and a strong supply of leveraged loans and managers wanting to issue will lead to even more supply over the autumn.

    • 11 Sep 2017
  • Shorting Australia and securitization for MDBs: ideas from Sustainable Capital Markets Forum

    Two hundred delegates gathered in Amsterdam on Tuesday September 5 for Euromoney Conferences’ fifth Sustainable and Responsible Capital Markets Forum. For the second time, it was organised jointly with GlobalCapital.

    • 11 Sep 2017
  • Mosaic inks $300m loan sale agreement with Goldman

    Solar finance company Mosaic has agreed to sell $300m of loans on residential rooftop solar systems to Goldman Sachs.

    • 08 Sep 2017
  • Capital markets head leaves NatWest

    The global head of debt capital markets at NatWest Markets has decided to leave the bank after nearly 20 years.

    • 08 Sep 2017
  • VW China repeats winning formula with new ABS

    Having sealed the largest deal in its Driver China series in May, Volkswagen Finance (China) decided it wanted to raise more from China’s securitization market. The originator stuck to a similar deal structure on September 7, taking home Rmb3.66bn ($569.7m).

    • 08 Sep 2017
  • Retail properties suffer most severe CMBS losses in Q2, says Moody’s

    Losses on liquidated CMBS loans ticked up higher during the second quarter of the year, with retail properties showing the worst loss severities among the major property types.

    • 07 Sep 2017
  • Church fund taps Goldman Sachs for new US CMBS deal

    A pair of single borrower deals surfaced in the CMBS market this week as investors prepare for a rush of issuance in September following the Labor Day holiday.

    • 07 Sep 2017
  • Draghi ducks as market hopes for October

    European Central Bank president Mario Draghi was reticent on the future of the central bank's asset purchase programme following its September meeting on Thursday, leaving the market waiting for guidance at the next meeting of the ECB in October.

    • 07 Sep 2017
  • Term Funding Scheme financing hits £75bn in June

    UK lenders had drawn over £75bn ($98.24bn) from the Bank of England’s Term Funding Scheme (TFS) as of June 30, according to figures released by the central bank on Thursday.

    • 07 Sep 2017
  • Market, not regulators, behind China ABS growth: CSF

    Market demand from smaller companies, rather than regulatory action, is driving China’s asset-backed securitization market, said Kristal Hou, executive general secretary of China Securitization Forum, an industry association.

    • 07 Sep 2017
  • Primary pipeline jumps as market eyes ABS East

    Timeshare, Federal Family Education Loan Program (FFELP) student loan, RMBS and single family rental (SFR) transactions hit the pipeline on Wednesday, as market participants gear up for the annual securitization bash in Miami Beach.

    • 06 Sep 2017
  • Conning boosts structured and corporate credit teams

    Insurance company asset manager Conning has hired a new managing director in its structured product team, as well as promoting a new managing director in corporate credit research.

    • 06 Sep 2017
  • Eurozone retail sales fall in July

    Retail sales fell by 0.3% across the eurozone in July, but bank analysts say the drop is a temporary blip rather than a sign of broader economic weakness in Europe.

    • 06 Sep 2017
  • PCP noise pushes spreads out on UK auto ABS

    Headlines about higher potential risks on personal contact purchase (PCP) loans in the UK auto market have led to investors demanding more spread on the most recent auto ABS transaction, said market participants this week.

    • 06 Sep 2017
  • GlobalCapital Sustainable and Responsible Capital Markets Awards 2017: the Winners

    France, Tennet, NWB and Berlin Hyp are among the green and social bond issuers acclaimed in GlobalCapital's Sustainable and Responsible Capital Markets Awards 2017, which were announced on Tuesday in Amsterdam.

    • 06 Sep 2017