Securitization - Article Archive

  • PACEfunding closes debut securitization

    PACEfunding, a California-based residential Property Assessed Clean Energy (PACE) finance firm, closed its debut securitization this week. The company has plans to launch a second offering later this year.

    • 29 Mar 2018
  • Settlement bargain for Barclays on legacy RMBS

    Barclays’ decision to carry on its legacy RMBS fight in 2016, rather than settle as Credit Suisse and Deutsche Bank did, has paid off handsomely, with a $2bn civil settlement for the bank and $2m for the two bankers at the centre of the suit announced last Thursday.

    • 29 Mar 2018
  • loanDepot debuts prime jumbo mortgage deal

    Online consumer lender loanDepot is in the market with its first prime jumbo mortgage transaction, bringing a new face to the roster of issuers in a sector that has seen only sporadic activity in recent years.

    • 28 Mar 2018
  • Angel Oak hires new mortgage head as new issue nears pricing

    US fixed income firm Angel Oak has hired a former senior vice-president at Canyon Capital to head its efforts in mortgage credit, as investors this week mull the firm’s seventh RMBS deal since 2015.

    • 28 Mar 2018
  • Heavily shorted Tesla bonds and shares tumble after Moody’s downgrade

    Moody’s Investors Service downgraded Tesla on Tuesday, citing the company’s liquidity challenges as it struggles to ramp up production of its Model 3 electric car. The move caused the company’s shares — the most heavily shorted US stock — as well as its high yield debt to slump.

    • 28 Mar 2018
  • Rabobank de-risks SME loan book with help from EIB Group

    Rabobank secured a guarantee on Monday from the EIB Group - comprising the European Investment Bank and the European Investment Fund - on €2bn of Dutch SME loans which will help it continue to serve clients while also shrinking its balance sheet.

    • 28 Mar 2018
  • Citi unveils fintech strategy

    Citi revealed its national digital banking strategy on Monday, with a goal of digitising its consumer banking business across lending, payments, investment and credit cards.

    • 27 Mar 2018
  • Kroll looks to muscle in on booming CLO ratings business

    Kroll Bond Rating Agency has hired staffers from S&P Global Ratings and Goldman Sachs to head a new foray into CLO ratings, as other agencies struggle to keep up with the record pace of issuance in the red hot asset class.

    • 27 Mar 2018
  • Clifden boosts RMACS bid as Paratus refi prices

    Clifden IOM No.1 boosted its tender offer for 2006 and 2007 vintage RMACS bonds on Monday — the RMBS series still in play in its tussle with sponsors Paratus AMC. This was closely followed by the pricing of the £400m RMAC No.1, which refinances the bonds Clifden failed to amend earlier this month.

    • 27 Mar 2018
  • BAML urges caution on subprime personal credit

    Analysts at Bank of America Merrill Lynch turned the spotlight on subprime personal loans in its latest research note, saying that higher rates and increased funding costs could be problematic for subprime issuers. It is the second warning on the consumer lending sector from the bank this month.

    • 26 Mar 2018
  • BDCs get leverage boost under US spending bill

    The spending bill signed into law by President Trump on Friday contained a provision that allows business development companies to double their permitted leverage, a move that could heat up an increasingly aggressive lending environment in middle market corporate debt.

    • 26 Mar 2018
  • Soaring lev loan demand pressures Euro CLO ratings

    Strong demand for European leveraged loans is driving ratings pressure on European CLO tranches, according to a statement from S&P Global Ratings at the end of last week.

    • 26 Mar 2018
  • Senior CMBS spreads soften on credit volatility

    Volatile equity markets and macroeconomic concerns spilled into CMBS spreads on Friday, with senior bonds priced way off the tight levels seen last month.

    • 26 Mar 2018
  • CMBS tracks ecommerce boom with bigger share of industrial buildings

    The growth of online shopping has fuelled a surge in appetite from all types of investors for industrial warehouse and fulfillment properties. Life insurance companies have typically dominated in this sector, but CMBS lenders are now taking a bigger share — reflecting the tight pricing on offer in the capital markets.

    • 23 Mar 2018
  • Vote Now: GlobalCapital US Securitization Awards 2018

    GlobalCapital is pleased to present the nominees for the annual US ABS awards, recognizing excellence across the structured finance industry.

    • 23 Mar 2018
  • JPM relocates senior ABS banker to Hong Kong

    JP Morgan has relocated a London-based senior ABS syndicate banker to Hong Kong.

    • 23 Mar 2018
  • Wells names new heads of mortgage finance

    Wells Fargo Securities has named two new co-heads of its mortgage finance group, which covers warehousing and term financing for originators and investors in residential real estate loans and securities.

    • 22 Mar 2018
  • Prosper brings deeper capital stack with latest ABS

    Prosper is the latest online lender to structure its securitization with more subordinate paper, as issuers move to respond to investor demand for higher yielding, short-dated paper.

    • 22 Mar 2018
  • Uber closes successful self-driven deal in hot US lev loan market

    Uber blazed a trail in the leveraged finance market this week, brushing off a fatal car crash involving one of its self-driven cars to close a bigger than expected self-syndicated leveraged loan at a spread inside of the initial price range.

    • 22 Mar 2018
  • Former BAML head of lev loans takes MD role at middle market fund

    Stephan Paras, the former European and US head of leveraged loans at Bank of America Merrill Lynch, has joined the investment committee at middle market lending firm Star Mountain Capital.

    • 22 Mar 2018
  • Blackstone to take out Sponda with FROSN Finn CMBS

    Blackstone has announced plans to sell FROSN-2018 DAC, a CMBS secured on Finnish real estate that will fund its acquisition of Sponda Oyj.

    • 22 Mar 2018
  • GAC-Sofinco undeterred by rising cost in China ABS

    Despite bagging Rmb4bn ($633.2m) from the Chinese asset-backed securities market on Tuesday, GAC-Sofinco Auto Finance failed to attract offshore interest and priced the deal wider than it did in its last transaction. But these upsets have not affected the carmaker’s appetite for more onshore deals.

    • 22 Mar 2018
  • CommonBond looking for capital markets director

    Online student loan refinancing company CommonBond is looking for a capital markets director as it broadens the range of its structured product offerings.

    • 21 Mar 2018
  • Retail funds pile into loans ahead of Fed meeting

    US retail funds have been pouring cash into the floating rate leveraged loan market in the last month, ahead of Wednesday’s 25bp rate hike by the Federal Open Market Committee.

    • 21 Mar 2018
  • Juicy yields draw global buyers to Latitude card deal

    Latitude Financial Services’ third Australian dollar credit card securitization this week offered a healthy pick up in spreads compared with other currencies, drawing a range of global investors to the deal even after currency swap costs were taken into account.

    • 21 Mar 2018
  • Green bonds are a catalyst for wider action, say issuers

    Funding officials said green bonds had stimulated other sustainability work across their organisations at the Climate Bonds Initiative conference in London on Tuesday.

    • 21 Mar 2018
  • Equipment financiers warn against late cycle complacency

    Equipment financiers at the Investors’ Conference on Equipment Finance in New York this week encouraged investors to exercise caution when playing in a higher-yielding sector even as the market moves through what has been a remarkably benign credit environment.

    • 20 Mar 2018
  • Secrecy is not an option

    A panel on gender parity in the workplace, hosted by Women’s Energy Network (WEN) last Wednesday in New York, pulled no punches in demanding that Wall Street stop hiding behind a culture that uses settlements to deal with sexual misconduct.

    • 20 Mar 2018
  • Uber boosts size of self-syndicated leveraged loan

    Investor demand has been strong for Uber’s self-arranged second leveraged loan, allowing the ride hailing company to increase the size of the deal from $1.25bn to $1.5bn.

    • 20 Mar 2018
  • Retail rout fails to dent lev loans, CMBS

    Despite a string of credit issues at troubled US retailers, the sector has provided leveraged loan investors with the strongest gains in the year so far, said JP Morgan on Tuesday, while the CMBX index targeted by mall bears as the next Big Short has barely budged.

    • 20 Mar 2018
  • Mediobanca goes back to the Futuro with Quarzo ABS

    Mediobanca’s subsidiary, Futuro, made a triumphant return with its Quarzo consumer loan securitization this week after being absent from the market for three years, in a deal which brought new investors to the table.

    • 20 Mar 2018
  • Annaly plans new RMBS from Onslow Bay shelf

    Real estate investment trust Annaly Capital Management has filed documents for a new residential mortgage securitization, as the firm's whole loan portfolio approaches $1bn.

    • 19 Mar 2018
  • PE backed defaults climb in US levfin

    Claire’s Stores was the latest retailer to file for Chapter 11 bankruptcy protection on Monday, joining a handful of other private equity owned companies that became credit casualties last week. While CLO managers have generally traded out of the names, some older deals might be stuck with the loans, wrote Wells Fargo analysts on Monday.

    • 19 Mar 2018
  • Cagney’s HELOC shop makes hiring push

    Former SoFi CEO Mike Cagney’s new online startup, Figure, which is looking to provide financing for home improvement loans and home equity lines of credit (HELOC), is looking to bring on at least 11 people, including a chief compliance officer.

    • 19 Mar 2018
  • NYSERDA pivots to ABS after Trump scraps energy bond scheme

    The New York State Energy Research and Development Authority (NYSERDA) issued a debut residential solar ABS last week to finance its Green Jobs–Green New York (GJGNY) programme, three months after the municipal green bond scheme it previously used for financing was scrapped.

    • 19 Mar 2018
  • Lloyds smooths TFS refinancing with Penarth

    After a long absence, Lloyds Bank returned to the dollar market last week to price a Penarth credit card securitization. The transaction will have helped smooth the transition to market based funding in the absence of the Bank of England’s term funding scheme (TFS) and is likely to be followed by the other major UK banks.

    • 19 Mar 2018
  • MUFG hires new structured products head

    MUFG announced on Friday that it has hired Scott Rodman as managing director and head of structured solutions for the Americas.

    • 16 Mar 2018
  • Clifden goes after trustee in second tender

    Controversial investment fund Clifden’s other tender process, for Fairhold Securitisation, a deeply distressed pre-crisis CMBS backed by UK ground rents, reached a crescendo last week, with another bold bid for legal action against a trustee.

    • 16 Mar 2018
  • NPL action package has teeth — but not yet

    The European Central Bank (ECB) and the European Commission (EC) delivered a double whammy of non-performing loan (NPL) action this week, laying out how to amend bank capital rules to better deal with the problem and explaining how supervisors would treat loans going bad in future. Passing a credible package to deal with NPLs is a crucial step in getting northern member states comfortable with a full Banking Union.

    • 15 Mar 2018
  • Prytania to open New York office for ABS fund

    UK based structured finance firm Prytania Asset Management is looking to open a new office in New York in April, to support growing appetite for offshore US and European structured product offerings.

    • 15 Mar 2018
  • BL Cards prices debut cards inside EDML

    Buy Way Personal Finance enjoyed solid demand for a tightly priced inaugural full capital stack credit card deal. Also the first cards deal from Belgium and Luxembourg, it was priced inside EDML 2018-1, a recent Dutch RMBS collateralised on secured loans.

    • 15 Mar 2018
  • Spire Partners planning new CLO debt fund

    UK CLO manager Spire is planning to launch a new open ended fund of around €200m-€300m that will invest in European CLO equity, debt and warehouse first loss positions.

    • 15 Mar 2018
  • Uber: no banks, no bother

    Uber’s self-syndicated leveraged loan is not just another example of big tech’s ambitious approach to the capital markets but a tribute to the hot credit markets that make these efforts fruitful.

    • 15 Mar 2018
  • Crédit Ag sheds EM loan risk to IFC, makes social loan promise

    The International Finance Corp and Crédit Agricole CIB have engaged in their second synthetic risk transfer (SRT) transaction. It continues the work both institutions have been doing to interweave such deals with socially responsible purposes.

    • 15 Mar 2018
  • Sprint spectrum bonds change hands in secondary

    A rare wireless spectrum deal from Sprint is already seeing secondary market action after being priced on Wednesday.

    • 15 Mar 2018
  • Citi combines structured finance syndicate

    Citi has recombined its European structured finance syndicate operation under Laura Coady, who becomes head of EMEA structured finance syndicate as well as keeping her existing role as head of Citi’s European primary CLO business. Garo Torossian, formerly head of EMEA residential mortgage distribution, joins Coady on the newly formed desk.

    • 15 Mar 2018
  • Supra adds to funding team

    A Washington supranational has added a capital markets veteran to its funding team.

    • 15 Mar 2018
  • ECB addendum addresses new NPLs

    The ECB has published an addendum to serve as guidance for all future non-performing loans. The measure is non-binding and will serve as the basis for dialogue between the ECB and the banks it regulates directly.

    • 15 Mar 2018
  • British Airways makes rare EETC run

    British Airways made a rare appearance in the Enhanced Equipment Trust Certificate (EETC) market on Wednesday with a dollar-denominated offering.

    • 14 Mar 2018
  • CMBS rally is long in the tooth, as market runs at double speed

    Morgan Stanley analysts wrote on Tuesday that the rally in CMBS is getting long in the tooth, though this has not halted appetite for new issuance, including a Blackstone-backed deal refinancing a loan secured on Chicago’s famed Willis Tower.

    • 14 Mar 2018
  • CarVal snaps up non-prime Signet credit card portfolio

    Global retailer Signet Jewelers has stepped up its plans to outsource its consumer lending programme, with an agreement to sell its remaining non-prime credit card portfolio with a par value of about $600m to CarVal Investors.

    • 14 Mar 2018
  • EC regulates on minimum coverage level for NPLs

    The European Commission has proposed a package of measures to tackle the European conundrum of non-performing loans; it includes a mandatory level of how banks must provision against these loans and their new EC determined definition.

    • 14 Mar 2018
  • Paratus AMC heads straight to market with RMAC refi

    Paratus AMC has gone to market immediately with a refinancing of the pre-crisis UK non-conforming RMBS in the RMAC series, which were called on Monday following a fraught battle with Clifden IOM No. 1, the hedge fund which had tendered for the deal in hopes of pushing more cash out to note holders.

    • 14 Mar 2018
  • Crédit Ag’s JV joins China auto ABS race

    GAC-Sofinco Auto Finance is preparing to sell a Rmb4bn ($633m) deal in the Chinese asset-backed securities market on March 20, set to be the third foreign name origination in three weeks.

    • 14 Mar 2018
  • US CLOs enjoy busiest ever start to the year

    More than $26bn of new issue CLOs have been priced in the year so far in the US, on top of $22.1bn of refinancing and reset deals as managers look to wring more returns from existing deals. The combined volumes in the first two months of the year are the highest in the CLO market’s 20-year history, said JP Morgan on Tuesday.

    • 13 Mar 2018
  • Funding Circle hires PayPal’s head of small biz lending

    The US arm of UK online small business lender Funding Circle has tapped PayPal’s Bernardo Martinez for US managing director.

    • 13 Mar 2018
  • US Steel out with high yield refi after Trump tariff boost

    US Steel was in the US high yield bond market on Tuesday, one week after announcing it would restart a steelmaking facility in Illinois in anticipation of a boost in demand as a result of US president Donald Trump slapping a 25% tariff on imported steel.

    • 13 Mar 2018
  • PACEfunding taps Natixis for debut ABS

    PACEfunding, a California-based residential Property Assessed Clean Energy (PACE) finance firm, has mandated Natixis to lead its first ever securitization.

    • 13 Mar 2018
  • IPTs out on full stack credit card deal BL Cards

    Lead managers have circulated initial price thoughts on BL Cards, an unusual credit card ABS backed by receivables from Belgium and Luxembourg that is selling a full capital structure.

    • 13 Mar 2018
  • Clifden preps ground for legal fight

    After losing its battle to add provisions to some of the bonds in the RMAC series of RMBS, forcing the deals to pay out extra cash to noteholders when called, fund Clifden IOM No. 1 has prepared the ground for legal action on the controversial trade.

    • 13 Mar 2018
  • OnDeck appoints CIT exec to CFO

    Online small business lender OnDeck announced that Ken Brause will be taking over as chief financial officer effective March 26.

    • 13 Mar 2018
  • Toys ‘R’ Us, Bon-Ton under credit spotlight

    Toys ‘R’ Us is discussing with investors the outlook for the company on Monday — with a restructuring proving elusive, there is talk of liquidating the company, which would be a blow to unsecured lenders.

    • 12 Mar 2018
  • BAML warns on MPLs, says stick with traditional consumer credit

    Analysts at Bank of America Merrill Lynch signalled their preference for unsecured consumer loans originated by ‘bricks and mortar’ lenders over those originated online, citing a dearth of marketplace loan performance history and weak ABS structures.

    • 12 Mar 2018
  • Clifden tries stalling tactics, but RMAC called regardless

    Clifden IOM No. 1, the fund which attempted an audacious raid on the reserve funds of several non-conforming UK RMBS bonds from the RMAC series, asked on Friday for the issuers and trustees to hold back a “reserve amount” from the redemption of the deals on Monday. But the bid failed, and the bonds will be redeemed as Paratus AMC wanted.

    • 12 Mar 2018
  • Euro ABS pipeline swells further as Lloyds, BMW join in

    The strong dealflow in the European ABS market continued on Monday, with two new consumer mandates hitting screens. Lloyds launched its first deal of the year, a dual-currency credit card issue, while BMW Finance mandated a French auto deal.

    • 12 Mar 2018
  • Nissan’s JV returns with fixed-floating ABS combo

    Dongfeng Nissan Auto Finance stuck to the strategy from its last transaction in October 2017 — of selling a fixed-rate note accompanied by a floating-rate tranche — as it returned to the Chinese asset-backed securities market on Thursday, raising Rmb4.5bn ($709.2m).

    • 09 Mar 2018
  • Rapid advance in greening financial system as savers get a voice

    Brussels has moved even faster than green finance experts hoped to bring forward its Sustainable Finance Action Plan, a document stuffed with measures to change the way financial markets operate and make them better fitted for the fight against climate change.

    • 08 Mar 2018
  • Brookings sounds alarm bell on US non-bank mortgage growth

    Soaring non-bank lending in the US mortgage market poses a systemic risk that is being underestimated in the housing reform debate, according to a report from the Brookings Institution on Thursday.

    • 08 Mar 2018
  • Vegas trip pays off for Santander’s Holmes

    Strong market conditions — and a successful marketing trip to US investors at SFIG Vegas 2018 — have dug up plentiful demand and tight pricing for Holmes 2018-1, which features two dollar tranches.

    • 08 Mar 2018
  • FIG secured supply surge to follow end of TFS

    UK bank treasurers, facing Brexit uncertainty, incoming ring-fencing rules and the struggle to meet regulatory funding ratios now have another hurdle to consider: the refinancing of debt drawn under the Bank of England's Term Funding Scheme (TFS). Bill Thornhill looks at what will fill the finding gap.

    • 08 Mar 2018
  • EU green finance plan: what’s going to happen

    The European Commission’s Sustainable Finance Action Plan, announced on March 8, involves no less than 10 different workstreams, covering a wide range of the ideas put forward by the High Level Expert Group on Sustainable Finance, which held a one year inquiry for the European Commission during 2017.

    • 08 Mar 2018
  • How to take big losses and still boost capital

    The EU’s lenient treatment of the IFRS 9 accounting rules has opened a loophole for Italian banks — allowing them to push through punishing provisions on their NPL portfolios, but wish away the impact on their regulatory capital — which could save the weakest banks from turning to shareholders for more cash, and speed up portfolio sales.

    • 08 Mar 2018
  • RMAC fight goes down to the wire as Clifden tips hand

    Clifden IOM No. 1 revealed its strategy on Monday for the RMAC bonds that it tendered for — but the issuer said on Wednesday that the controversial fund had not yet offered proof that it controlled enough bonds to push through the deal changes it wants.

    • 08 Mar 2018
  • Wunder Capital looking at C&I solar ABS launch in 2019

    Wunder Capital, a Colorado-based commercial and industrial (C&I) solar shop, plans to launch the industry’s first C&I solar securitization in 2019.

    • 08 Mar 2018
  • Reyl joins the dots between wealth management and securitization

    Swiss private bank Reyl & Cie illustrated the growing fusion between wealth management and traditional capital markets investment banking with its decision to hire Ante Razmilovic to launch a new securitization business.

    • 08 Mar 2018
  • Lone Star fires starting gun on refi wave

    Lone Star has mandated Morgan Stanley to help it refinance a portfolio of Irish mortgages it securitized less than two years ago, the first in a potential wave of sponsor-driven refinancing RMBS trades to come in 2018.

    • 08 Mar 2018
  • BioPharma Credit to raise $300m to fund more investment

    BioPharma Credit, a closed end investment fund that provides debt capital for the life sciences industry, is to raise $300m through a primary placement of new shares to fund further investments.

    • 08 Mar 2018
  • Leverage on the rise in bullish US CMBS, but property values a growing concern

    Leverage levels in US commercial real estate bonds are set to rise in 2018, according to Fitch Ratings, after three years of decline. The trend is a worry for many in the market, against the backdrop of loosening deal structures, pullback of offshore investors and words of warning from the former Federal Reserve chief on the sector.

    • 07 Mar 2018
  • Skopos makes ABS return after trimming fat

    Skopos Financial, a lender specializing in deep subprime auto finance, is back in the securitization market after a two year pause, in which the company downsized and tightened underwriting standards.

    • 07 Mar 2018
  • RMAC issuer and trustee say no proof yet from Clifden

    The issuer and trustee in the RMAC deals at the centre of the tussle between Clifden IOM and Paratus AMC said they have yet to receive proof that Clifden holds the notes it needs to amend the bonds.

    • 07 Mar 2018
  • VW announces new auto ABS as Dutch and UK RMBS gain traction

    VW Finance has announced a new auto ABS transaction, while Charter Court has set guidance on its latest UK RMBS and Elan Woninghypotheken’s latest Dutch RMBS is set to be priced.

    • 07 Mar 2018
  • NYSERDA debuts resi solar loan ABS

    The New York State Energy Research and Development Authority (NYSERDA) is marketing a debut $18.5m securitization backed by payments on residential solar loans.

    • 06 Mar 2018
  • AIG strikes out alone in strong RMBS market

    American Insurance Group is launching a prime jumbo mortgage RMBS deal through its own shelf for the first time, following two deals last year that were placed through Credit Suisse’s conduit platform.

    • 06 Mar 2018
  • Rapid return for Precise with second RMBS of the year

    Charter Court Financial Services hit screens on Tuesday with its second UK RMBS of the year, Precise Mortgage Funding 2018-2B, while Santander UK’s Holmes also raced forwards to tap post-Vegas dollar demand.

    • 06 Mar 2018
  • Provisions, meet politics: Italy and the ECB’s NPL plan

    The European Central Bank’s plans to press on with non-performing loan (NPL) reduction may be necessary, but in the wake of the Italian election, they could be the spark to ignite a political firestorm.

    • 06 Mar 2018
  • Investor demand for exotic CLOs spurs new structures

    Tennenbaum Capital Partners last week sold $147.9m of publically rated debt backed by a potential direct lending portfolio to a handful of insurance companies, before any of the assets had been originated. In a hot CLO market, talk of more exotic financing structures and riskier collateral is growing.

    • 06 Mar 2018
  • Progress in Women in Securitization, but too much marketing and a missed opportunity

    If 2018 is supposed to be the year of greater awareness of women's obstacles in the workplace, nobody sent the memo to Wall Street, which is still struggling with retaining female talent and has yet to address the gender wage gap meaningfully.

    • 06 Mar 2018
  • Shuttered Anoa Capital ducks remarketing role on EA Partners bonds

    Dare Holdings, formerly Anoa Capital, is trying to escape its role as a remarketing agent on the troubled EA Partners I and II bonds issued by Etihad — and backed, unfortunately, by stakes in insolvent Alitalia and Air Berlin.

    • 06 Mar 2018
  • The price is right: SAIC-GMAC seals ABS in China

    SAIC-GMAC Automotive Finance has sealed its first asset-backed securities deal this year in the Chinese interbank bond market, raising Rmb3bn ($473.3m) from two floating-rate tranches on Monday.

    • 06 Mar 2018
  • Mortgage investments ‘fully priced’, says JPM

    Investor sentiment at SFIG Vegas 2018 was that MBS and other mortgage investments are now “fully priced”, though buyers are not worried that the market will reverse course dramatically in the near term, wrote analysts at JP Morgan in a note on the back of the event.

    • 05 Mar 2018
  • Sprint to issue spectrum bond offering

    Wireless carrier Sprint is out with a securitization backed by spectrum licences after announcing that it would re-enter the market nearly two years after it issued its first ABS.

    • 05 Mar 2018
  • Santander to shine a light on dollars with Holmes RMBS mandate

    Santander UK has mandated joint leads for a prime RMBS off its Holmes shelf with a view to placing notes in sterling and, for the third time this year for a UK issuer, in dollars.

    • 05 Mar 2018
  • Clifden reveals RMAC strategy but risks remain

    Clifden IOM No. 1 revealed its strategy on Monday for the RMAC bonds that were offered into its controversial tender — but the fund’s approach is still fraught with risk, and Paratus AMC was quick to issue another notice trying to sink the tender.

    • 05 Mar 2018
  • EU green finance Action Plan revealed: action on many fronts

    The European Commission plans to move ahead fast with a wide range of actions to green financial markets, according to a leaked draft of its Action Plan on Sustainable Finance, seen by GlobalCapital.

    • 02 Mar 2018
  • SAIC-GMAC lines up Rmb3bn ABS comeback

    China's SAIC-GMAC Automotive Finance wants to raise Rmb3bn ($473.7m) from an asset-backed securitization on Monday.

    • 02 Mar 2018
  • Deal structures to get more complex in growing CRE CLO market

    Bankers and issuers said at the SFIG Vegas conference this week to expect commercial real estate CLOs to get more complex as what was once a small corner of the CMBS market grows rapidly.

    • 01 Mar 2018
  • Mayer Brown continues hiring spree with ABS partner

    Mayer Brown has brought on Jim Antonopoulos as a partner in the Chicago office, as the firm continues to expand its global banking and finance practice.

    • 01 Mar 2018
  • SFIG Vegas 2018 Day Two

    Read all of GlobalCapital's coverage of day two of SFIG Vegas 2018.

    • 01 Mar 2018
  • SFIG Vegas 2018 Day One

    Read all of GlobalCapital's coverage of day one of SFIG Vegas 2018.

    • 01 Mar 2018
  • Updated: Nissan’s China JV prepares year’s third foreign ABS

    Dongfeng Nissan Auto Finance will be returning to the Chinese asset-backed securities market on March 8 with a Rmb4.5bn ($710m) dual-tranche deal on the interbank market — the largest transaction by a foreign name originator so far this year.

    • 01 Mar 2018