Securitization - Article Archive

  • Securitization could open floodgate for green finance

    ABS market participants speaking on Thursday said they are confident that the use of securitization could open up the market for financing green initiatives, but a lack of standardization and regulatory hurdles could keep the market from going mainstream.

    • 30 Nov 2017
  • US credit investors on the defensive amid late cycle lending

    Investors in US structured credit and leveraged finance are bracing themselves for bouts of volatility and growing idiosyncratic risk, as spreads grind to record tight levels while aggressive underwriting behaviour increases, writes David Bell.

    • 30 Nov 2017
  • Raiffeisen securitizes €1.2bn of Slovak loans for cap relief

    Raiffeisen Bank International has securitized a €1.2bn portfolio of corporate and project finance loans from its Slovak subsidiary, Tatra banka, in what it believes is the first ever securitization of Slovak assets.

    • 30 Nov 2017
  • Hurricanes drive equity buyers into flourishing ILS market

    Equity buyers are clambering all over each other to get a piece of the burgeoning insurance-linked securities market chasing higher yield on the back of a exceptionally destructive US hurricane season. Sam Kerr reports.

    • 30 Nov 2017
  • Wendy's makes run at whole biz ABS market with $1bn deal

    Fast food chain Wendy’s is preparing to serve up a whole business securitization that will refinance an older transaction, with the deal expected to close early in the New Year.

    • 29 Nov 2017
  • US storms cause ‘remarkable’ spike in mortgage delinquencies

    Hurricanes Harvey, Irma and Maria have caused US mortgage delinquencies to rise to the highest level in four years, but policies put in place by government sponsored agencies have largely insulated mortgage credit risk transfer investors from any fallout.

    • 29 Nov 2017
  • Reinsurance fund raises $543m of equity in wake of hurricanes

    Markel CatCo Reinsurance Opportunities Fund has raised $543m of equity capital to expand its offering, after a busy Atlantic hurricane season has increased demand for insurance-linked securities (ILS) products.

    • 29 Nov 2017
  • Novo Banco investors turn backs on BCP deal

    A number of funds said that they would have no part in Banco Comercial Português’ debut tier two bond sale this week, after they lost out in the Bank of Portgual’s controversial bail-in of Novo Banco bonds in 2015.

    • 29 Nov 2017
  • JP Morgan tells US securitization buyers to get on the defensive

    At JP Morgan’s fixed income markets 2018 outlook conference in New York on Tuesday, investors were advised to move into more defensive positions, with macro factors expected to weigh on credit next year.

    • 28 Nov 2017
  • SoFi readies sixth student loan refi ABS

    SoFi has entered the post-Thanksgiving pipeline with its sixth student loan refinancing transaction this year, in line with its plans to issue 12 securitizations in 2017.

    • 28 Nov 2017
  • CFPB turmoil could unravel Cordray-era protections

    The leadership tussle at the Consumer Financial Protection Bureau (CFPB) threatens to muzzle the watchdog or even have it put down. Many in the securitization industry would welcome that, but this newspaper is not so keen to bid farewell to Main Street's best friend just yet.

    • 28 Nov 2017
  • UK is offering a Brexit bet with student loan ABS

    The long awaited student loan securitization from the UK Department for Education might be the closest structured finance investors get to being able to bet on the economic effects of the country's exit from the European Union.

    • 28 Nov 2017
  • Dutch housing market continues to heat up

    The number of Dutch borrowers with mortgage loans exceeding the value of their home fell in the third quarter as home price appreciation accelerated, according to Calcasa.

    • 28 Nov 2017
  • Analysts flag 'stunning growth' of US student debt

    JP Morgan analysts have flagged concerns over the “stunning growth” of student loans.

    • 27 Nov 2017
  • CMBS rally to lose steam in 2018, says JPM

    The long rally in US CMBS that has taken place since the financial crisis will likely run out of steam next year, said analysts at JP Morgan, as the market moves into the final stretch of a bull run that has seen spreads plummet to their tightest levels in years.

    • 27 Nov 2017
  • US sponsors swell loans at expense of high yield

    Sponsors are leading a shift away from high yield bonds and into second lien leveraged loans, causing the loan market to swell while high yield market starts to shrink.

    • 27 Nov 2017
  • Renovate brings PACE ABS as US interest overshadows Europe

    Renovate America is in the market this week with its third and final Property Assessed Clean Energy (PACE) securitization of the year, as the company eyes less participation from European buyers given a surge of interest in green ABS in the US in 2017.

    • 27 Nov 2017
  • Fitch boosts levfin team with sell side hires

    Fitch Ratings has hired two experienced bankers to help expand its footprint in US leveraged finance.

    • 27 Nov 2017
  • UniCredit applies for GACS guarantee as FINO progresses

    UniCredit is seeking an Italian government guarantee for the senior tranche of a portfolio of securitized non-performing loans after gaining an important rating from Moody’s and DBRS on the notes, allowing it to go forward with its “failure is not an option” (FINO) asset disposal plan.

    • 27 Nov 2017
  • VW China’s ABS prices after rising yields cause delay

    Volkswagen Finance (China) wrapped up its third asset-backed securities (ABS) deal on Friday, raising Rmb3.5bn ($531.8m). The company was forced to extend bookbuilding into a second day amid rising bond yield in the Chinese market.

    • 24 Nov 2017
  • Mars gets Irish NPL securitization away, despite thin mezz cover

    Mars Capital managed to price Grand Canal Securities 2, a securitization of Irish NPLs, at relatively tight levels even though the subscription ratio was relatively thin on mezzanine notes.

    • 23 Nov 2017
  • Italy might actually have more banks than restaurants

    The oft-repeated joke in financial markets that Italy has more places where you can take out a loan than establishments where you can indulge in a plate of pasta might have a kernel of truth behind it, with new analysis from UBS highlighting some staggering numbers about bank competition in the country.

    • 23 Nov 2017
  • Industry eyes carving SPVs out of clearing

    European member states could keep securitization and covered bond SPVs out of clearing and margin requirements, according to a draft European Market Infrastructure Regulation (EMIR) compromise published last week.

    • 23 Nov 2017
  • US structured finance hits post-crisis high

    With three weeks in the year still to go, US securitization volume has reached a post-crisis high of $474bn, according to S&P Global Ratings.

    • 22 Nov 2017
  • CFPB slaps Citi with fine for deceptive student loan servicing

    The Consumer Financial Protection Bureau (CFPB) has ordered Citi to pay $6.5m for private student loan servicing “failures”, which includes a fine and a refund to affected borrowers.

    • 22 Nov 2017
  • Investors pile into rare UK CMBS

    Bank of America Merrill Lynch has priced the £350m Taurus 2017-2 CMBS, the first transaction backed by a UK commercial property loan since 2015.

    • 22 Nov 2017
  • My Money Bank mandates French auto ABS

    Cerberus-owned lender My Money Bank, formerly GE Money Bank, has mandated BNP Paribas, Credit Agricole and Morgan Stanley to sell a French auto ABS, SapphireOne Auto 2017-1.

    • 22 Nov 2017
  • NatWest boosts capital with synthetic CLO

    NatWest has taken advantage of robust market conditions and improved its capital position with a synthetic securitization of loans called Nightingale 2017-1.

    • 22 Nov 2017
  • Nordea trade breaks record but some AT1 stalwarts see ‘no reason’ to buy

    Nordea’s blowout additional tier one (AT1) offering on Tuesday took the instrument into unchartered waters in terms of pricing — beyond where some regular AT1 investors were willing to go. In covered bonds, supply-demand dynamics continue to favour issuers.

    • 22 Nov 2017
  • Bazalgette cleans up 10 year demand with green bond

    Bazalgette Finance issued its first benchmark bond on Wednesday, when it found itself the only corporate issuer in Europe on the day before the US Thanksgiving holiday.

    • 22 Nov 2017
  • Fed rate rises expected to dampen CMBS in 2018, says Kroll

    The unwinding of the Federal Reserve’s balance sheet and anticipated rate rises are expected to put downward pressure on CMBS issuance next year, said Kroll Bond Rating Agency on Tuesday.

    • 21 Nov 2017
  • SFIG government relations chair heads to Ally

    Ally Financial has tapped Morgan Stanley alumnus and Structured Finance Industry Group (SFIG) government relations co-chair Josh Wilsusen to lead its policy strategy outreach in Washington, DC.

    • 21 Nov 2017
  • Lending Club lines up new ABS

    Lending Club has filed deal documents for a securitization backed by prime consumer loans after executives indicated this month that the company will issue two deals before year-end.

    • 21 Nov 2017
  • Green BTL RMBS takes a step closer

    UK buy-to-let (BTL) mortgages are set to undergo a green revolution, with the introduction of regulations that could create a new energy efficient UK RMBS asset class, said DBRS.

    • 21 Nov 2017
  • RBNZ plans new secured asset class for repo

    The Reserve Bank of New Zealand (RBNZ) is consulting on boosting the quality of mortgages that secure bonds used for repo purposes. This should improve liquidity for domestic banks, but siphoning off the best quality mortgages could hurt collateral quality for distributed covered bond and RMBS deals.

    • 21 Nov 2017
  • New OCC pick raises questions for online lenders

    The Senate last week confirmed Joseph Otting as head of the Office of the Comptroller of the Currency (OCC), but his background in community banking raises questions for the future of online lender-bank partnerships, and raises new questions about the proposed special purpose bank charter for marketplace lenders.

    • 21 Nov 2017
  • Crédit Agricole’s China JV nails Rmb4bn ABS return

    GAC-Sofinco Auto Finance completed a Rmb4bn ($603.6m) asset-backed securities transaction on Monday, its first in China since 2014. The originator focused on tight pricing, thereby snubbing investors vying for a bargain, but it still gained the support of accounts familiar with its business.

    • 21 Nov 2017
  • Private SLABS defaults improve, but effects of disasters not yet felt

    Student loan ABS defaults in the post-crisis period are “significantly” lower than in pre-crisis deals, according to DBRS, but the percentage of loans in forbearance spiked sharply last quarter, driven by borrowers in disaster-hit areas postponing payments.

    • 20 Nov 2017
  • US high yield issuers line up after $6.8bn pulled from sector

    Investors pulled $6.8bn from US high yield mutual funds last week, but spreads ended last week unchanged and a busy line-up of issuers have crowded the primary deal pipeline.

    • 20 Nov 2017
  • BAML sets pricing on Taurus CMBS

    Bank of America Merrill Lynch has set initial price guidance on the sole UK sterling CMBS transaction of the year with a view to updating investors on Tuesday.

    • 20 Nov 2017
  • Mount Street working on Greek servicing licence

    Independent servicing group Mount Street is working on obtaining a Greek servicing licence, as interest in portfolio sales from the country heats up.

    • 20 Nov 2017
  • Cleveland Fed pulls harsh MPL report after industry outcry

    The Cleveland Federal Reserve took down a report on marketplace lending following withering criticism from the industry over the central bank’s comparison of the market to pre-crisis subprime mortgage lending.

    • 20 Nov 2017
  • Updated: VW China joins ABS party with comeback deal

    Volkswagen Finance (China) is gearing up for its third appearance this year in the Chinese asset-backed securities market, plotting a Rmb3.5bn ($528.1m) deal. The transaction comes amid a flurry of foreign name originations in China in recent weeks.

    • 20 Nov 2017
  • Toyota China seals year’s second ABS deal

    Toyota Motor Finance (China) has sealed a Rmb3bn ($452.7m) transaction in the Chinese asset-backed securities market — its second deal in the country this year. While the trade was wrapped up successfully, the issuer’s efforts to woo Bond Connect investors appeared to have been in vain, said sources.

    • 20 Nov 2017
  • Cov-lite proliferates, leverage climbs in middle market as new funds pile in

    Yield-chasing investors are piling into US direct lending, and the move is taking its toll on credit underwriting. Cov-lite terms and more aggressive leverage are seeping into the traditionally conservative middle market space, even as the spreads on offer track tighter to the larger broadly syndicated market.

    • 17 Nov 2017
  • Angel Oak, JP Morgan add to busy RMBS primary pipeline

    A pair of RMBS deals from Angel Oak and JP Morgan hit the market this week, following an offering from non-prime mortgage aggregator Invictus Capital Partners and a non-QM deal from Ellington.

    • 16 Nov 2017
  • Frothy US high yield knocked but still standing after volatile week

    The US high yield market suffered a volatile week, with pulled deals, wider spreads and billions of dollars of retail investor outflows, but a string of determined issuers and hardy investors keen to pick up bargains meant the sell-off did not result in a full blown market rout, as many had earlier feared.

    • 16 Nov 2017
  • EIB, China start harmonising green bonds

    A technical document designed to connect China’s green bond market with that of the Western world could also be a first step in building a globally coherent green bond market, in which bonds of different kinds are more comparable.

    • 16 Nov 2017
  • Fed flags online lending as subprime redux, but market hits back

    The ABS market was abuzz this week after a controversial report from the Cleveland Federal Reserve compared online consumer lending to the pre-crisis subprime mortgage market, drawing criticism from market players for its “inflammatory” assessment. But the report comes at a time of increasing loss rates on consumer loans and a rush by lenders to adjust their loss expectations, writes Sasha Padbidri.

    • 16 Nov 2017
  • Issuers offer up trio of deals to euro ABS buyers

    A trio of deals hit ABS screens this week, with a Crédit Agricole consumer deal following the pricing of a Spanish credit card transaction and an Irish RMBS backed by a mixed pool of performing and non-performing loans.

    • 16 Nov 2017
  • Upstart slashes cost of funds with latest securitization

    Online consumer lender Upstart achieved new tights on a securitization that was priced on Wednesday, with spreads ratcheting tighter by 35bp-110bp across the capital stack.

    • 15 Nov 2017
  • Swiss lease ABS notches clean pricing

    The second Swiss auto ABS of 2017 achieved the neatest pricing a syndicate banker could hope for — printing at 0%, 1% and 2% coupons for the class ‘A’, ‘B’ and ‘C’, respectively, all placed at par and through the tight end of initial price thoughts.

    • 15 Nov 2017
  • Ally creates Irish SPE, ups risk profile for latest deal

    Ally Bank has created an Irish special purpose entity (SPE) for a new prime auto from a new loan shelf titled Juniper Receivables DAC, which is backed by loans with longer terms and higher risk collateral.

    • 14 Nov 2017
  • Invictus follows Ellington debut in non-QM bond market

    Non-prime mortgage aggregator Invictus Capital Partners has launched a new RMBS deal backed by mortgages that fall outside government sponsored enterprise buying programmes, following a debut deal from Ellington that was priced on Monday.

    • 14 Nov 2017
  • Euro ABS pipeline swells as issuers race to year end

    European ABS issuers have rushed the primary pipeline this week, bringing as many as seven deals to market as the push to year end begins.

    • 14 Nov 2017
  • NPLs: cash(flow) rules everything around me

    The spat between the European Parliament and the ECB over accounting standards is ugly – and mostly unnecessary. Accounting matters, but it’s not real life. What matters is cold hard cash.

    • 14 Nov 2017
  • Bank of Italy says NPL disposals are ‘rising gradually’

    The Bank of Italy published estimates for last year’s bad loan recovery rates on Tuesday, showing that the speed of disposal for non-performing loans is increasing gradually in Italy.

    • 14 Nov 2017
  • Commission weighs in on NPL recognition

    The European Commission has published a consultation on how European banks ought to recognise their non-performing loans (NPLs), weighing in on a bitter debate between the European Central Bank and certain members of the European Parliament — and coming down broadly on the ECB’s side.

    • 14 Nov 2017
  • Crédit Ag China JV breaks three-year ABS silence

    GAC-Sofinco Auto Finance is returning to the Chinese asset backed securities market seeking Rmb4bn ($602.9m) — its first outing since 2014.

    • 14 Nov 2017
  • Fed sounds alarm on marketplace lending

    The Cleveland Federal Reserve issued a report last week sounding the alarm on the effect of marketplace loans on consumer balance sheets, and while market players have acknowledged some of the criticisms as valid, the industry has hit back against comparisons to the pre-crisis mortgage market.

    • 13 Nov 2017
  • CMBS snatches market share as hotel originations soar

    With spreads at historically tight levels, the CMBS market benefited from a big jump in loan refinancing during the third quarter to snap up collateral and win market share from life insurance companies, according to data from the Mortgage Bankers Association (MBA).

    • 13 Nov 2017
  • IDB mulls Mexican solar securitization funding

    The Inter-American Development Bank is evaluating a possible MP1bn ($52m) warehousing loan to finance a portfolio of small scale solar projects in Mexico with a view to supporting a subsequent securitization in the local capital markets, a model the development bank has used for previous projects.

    • 13 Nov 2017
  • Close Brothers keeps up steady flow of UK auto ABS

    Hot on the heels of PSA’s UK auto lease ABS last week, Close Brothers announced Orbita Funding 2017-1 on Monday as the steady stream of UK auto ABS shows no sign of diminishing.

    • 13 Nov 2017
  • Axiom seeks £500m in IPO of bank debt opportunities fund

    Axiom Alternative Investments, a London-listed investment advisory firm, is seeking to raise up to £500m of new equity capital, to invest in Europe’s banking revival by buying debt securities.

    • 13 Nov 2017
  • BAML announces first UK CMBS since 2015

    Bank of America Merrill Lynch has announced Taurus 2017-2, a sterling denominated CMBS backed by a single loan secured on a portfolio of UK logistics properties — the first sterling CMBS deal to be issued in over two years.

    • 13 Nov 2017
  • Toyota China sticks to old format in latest ABS

    Toyota Motor Finance (China) is hitting the Chinese asset-backed securities (ABS) market for a second time this year. The Japanese automaker maker will approach investors with a Rmb3bn ($452.1m) deal on November 16.

    • 13 Nov 2017
  • PACE market stirs with deals from Ygrene, Renovate

    Property Assessed Clean Energy (PACE) finance firm Ygrene Energy Fund priced a blended pool of residential and commercial PACE liens on Wednesday, while Renovate America filed documents this week for its final deal of the year.

    • 09 Nov 2017
  • UniCredit and Intesa in focus as Parliament body hits back on NPLs

    The European Parliament’s legal service has hit back against a proposal by the European Central Bank (ECB) to make banks provision non-performing loans (NPLs) more aggressively, as analysts grilled the management teams from Italy’s largest banks on how they could handle the problem.

    • 09 Nov 2017
  • US shopping mall REIT downgraded on retail woes

    The aversion of US capital markets investors to regional shopping malls is putting pressure on real estate investment trusts that target the sector, with Fitch stripping one of them of investment grade status on Thursday.

    • 09 Nov 2017
  • Europe's NPL breakthrough: securitizations to boom after Montepio’s trailblazer

    Unclogging the balance sheets of Europe’s banks has been a long and painful process, and one that has inhibited the region’s growth and recovery. But, as Bill Thornhill reports, the first securitization of non-performing loans without a government guarantee by a Portuguese bank this week is a crucial development for Europe’s heavily burdened banking sector.

    • 09 Nov 2017
  • Euro CLO market stays hot as Japanese interest drives tightening

    The European CLO market is showing no sign of cooling down going into year end, with investor demand stronger than ever and heightened Japanese interest driving spreads tighter.

    • 09 Nov 2017
  • Caesars Palace places bet in hot CMBS market

    Creditors of Caesars Palace in Las Vegas have turned to the CMBS market to raise debt against the casino to help finance the Chapter 11 restructuring of the business.

    • 08 Nov 2017
  • Junior CLO debt surges above par in secondary market

    Investor thirst for yield has pushed the price of the riskiest pieces of CLO debt well above par, but market participants say that many investors are underestimating call risk as they hunt for value.

    • 08 Nov 2017
  • Innovative Montepio deal could spark NPL securitization boom

    A debut Portuguese non-performing loan securitization attracted a raft of new investors and gave the issuer better execution compared with bilateral trades, which is likely to encourage a wave of new NPL deals across peripheral Europe, according to ABS sources.

    • 08 Nov 2017
  • Lending Club plots two ABS before year end

    Lending Club is looking to price two more ABS deals this quarter, as the company plans to shrink its proportion of bank funding in the year ahead, executives said on a third quarter earnings call this week.

    • 08 Nov 2017
  • Premium Finance insurance ABS draws big demand

    Demand for sterling ABS is surging, with a deal from Premium Finance on Wednesday attracting heavy subscription levels across the capital stack.

    • 08 Nov 2017
  • Investors stuff themselves with AT1 after lean month

    Additional tier one capital (AT1) yields have been squeezed to all-time lows in 2017 but bank debt investors were still eager this week to fill their stockings with the product in time for Christmas.

    • 08 Nov 2017
  • Ellington lines up non-QM securitization

    Ellington Financial is planning to issue a new RMBS deal backed by non-qualifying mortgages in the ‘near future’, as well as a second CLO transaction, with the firm looking to use securitization to fuel portfolio growth.

    • 07 Nov 2017
  • Upstart heads to market with new ABS

    Online personal loan platform Upstart is back in the ABS market after hitting the pipeline with a debut transaction in June.

    • 07 Nov 2017
  • CLOs rampant after second busiest week since crisis

    Last week was the second busiest week of issuance in the global CLO market in the post-crisis era, but refinance and reset activity is set to dominate the sector for the remainder of the year, a move which is likely to facilitate further price tightening in the leveraged loan market.

    • 07 Nov 2017
  • Mars goes on the road with Grand Canal Irish NPL ABS

    Mars Capital Ireland Holdings has mandated Morgan Stanley for Grand Canal Securities 2 DAC, an Irish RMBS secured mostly by non-performing mortgages.

    • 07 Nov 2017
  • GOP plan twists knife for student borrowers

    The removal of the student loan interest deduction under the Republicans’ new tax plan may seem inconsequential compared with the average sum of debt per borrower, but it will fan the flames of a growing student debt crisis.

    • 07 Nov 2017
  • Ellington buys into Greek NPL securitization

    US hedge fund Ellington Management has bought into the equity of a private Greek NPL securitization, cutting the investment that Aldridge EDC, the original investor in the portfolio, has to put down.

    • 07 Nov 2017
  • Peugeot and Premium Finance bring UK ABS

    PSA Finance UK, the captive finance arm of Peugeot Citroën in the UK, has just priced its first securitization of UK car loans at 42bp over one month Libor. The deal has been sized at £315m.

    • 07 Nov 2017
  • Baltic trio sew up secured funding scheme

    Estonia, Latvia and Lithuania have signed a memorandum of understanding (MoU) to develop their capital markets and will look to draw up legal frameworks to develop covered bond and securitization markets.

    • 07 Nov 2017
  • Investors’ call at COP 23: give us projects to invest in

    Financial institutions will be making a flurry of announcements at the COP 23 climate change conference in Bonn over the next fortnight, detailing new initiatives and pledges. But more important may be any signs that countries are getting better at turning their climate ambitions into projects investors can put money into.

    • 07 Nov 2017
  • ABS in the spotlight as China deleverages

    Chinese banks and corporations are making use of the fast-growing asset-backed securitization (ABS) market to aid the country’s deleveraging efforts, analysts told GlobalRMB.

    • 07 Nov 2017
  • Tesla sells solar lease, PPA securitization

    Tesla priced an ABS offering backed by solar lease and power purchase agreements originated by its SolarCity subsidiary late last week, selling the bonds at the tight end of price guidance.

    • 06 Nov 2017
  • Complexity holds back transport ABS activity

    Transport ABS deals have been well bid in 2017, sought by investors for their higher yields compared to more vanilla assets. But bespoke deal structures and attractive funding in other markets have put off interested participants, sources said this week.

    • 06 Nov 2017
  • US tax plan could shake up levfin, boost M&A

    Changes put forward under Republican tax plans could dent the attractiveness of high yield debt and leveraged loans, according to analysts, but a cut to the corporate tax rate and a potential holiday for repatriated cash would be positives for US corporates.

    • 06 Nov 2017
  • Engine running for Peugeot’s first sterling car loan ABS

    Peugeot Citroën’s car finance bank announced initial price thoughts on Monday for its first sterling securitization, joining a UK car finance ABS market that has been busy this year.

    • 06 Nov 2017
  • WiZink offers rare Spanish credit card ABS

    WiZink, the Spanish credit card bank, is preparing to launch its first securitization that will be sold publicly.

    • 06 Nov 2017
  • Rabobank transfers risk for new lending

    Rabobank has transferred the risk on a large book of corporate loans via securitization to Pensioenfonds Zorg en Welzijn (PFZW), a move that reduces the bank’s risk weighted assets by €1bn and will free up room to make new loans.

    • 06 Nov 2017
  • Investors see "perfect storm" in marketplace loan ABS

    A panel of investors speaking at a conference this week said that securitization was driving the growth of the marketplace lending industry, and that the combination of investor demand for yield and borrower demand for credit is creating a “perfect storm of good things” for the asset class.

    • 03 Nov 2017
  • Caixa prices Portuguese NPL securitization

    Caixa Económica Montepio Geral has priced Portuguese non-performing loan securitization, Évora Finance, after a marketing period which began in August.

    • 03 Nov 2017
  • Wells Fargo names new head of US DCM

    Wells Fargo Securities has named its new head of debt capital markets, covering US investment grade debt, high yield debt and loan originations and executions.

    • 02 Nov 2017
  • GOP tax plan could rock high end mortgage market

    The US Republican party has proposed an overhaul of the tax code, which could slash the corporate tax rate to 20% but could also cut the mortgage interest deductions enjoyed by homeowners, a move that could dent prices at the high end of the housing market.

    • 02 Nov 2017
  • Trump picks 'Yellen 2.0' to keep bull market running

    Capital markets breathed a sigh of relief on Thursday, as it became clear US president Donald Trump was going to pick Jerome Powell as the next Fed chair — a choice seen as most likely to keep the US equity bull run going, writes Sam Kerr.

    • 02 Nov 2017
  • Spain to lead Europe with PACE energy law

    Spain — specifically, Catalonia or the Basque region — could be the site of Europe’s first Property Assessed Clean Energy (PACE) financing of home energy efficiency upgrades, if a pilot project funded by the European Union gets off the ground.

    • 02 Nov 2017
  • Lending Club eyes charter as landscape evolves

    Lending Club is exploring the idea of operating as a bank or obtaining a fintech bank charter in order to keep pace with a changing lending and regulatory landscape, an executive from the marketplace lender said on Thursday.

    • 02 Nov 2017