ABS

  • Renovate America stirs sleeping PACE market

    Renovate America stirs sleeping PACE market

    Property Assessed Clean Energy (PACE) issuer Renovate America is breathing life back into an otherwise quiet market with a deal backed by residential PACE liens. Instead of tapping the securitization market, PACE providers are choosing to go down alternative routes, such as pursuing private transactions or arranging forward flow agreements, sources say.

  • Spreads tighten for pair of UK RMBS deals

    Spreads tighten for pair of UK RMBS deals

    Pepper Group subsidiary Optimum Credit has priced its Castell 2019-1 deal tight of guidance, while Yorkshire Building Society’s Brass No 8 RMBS was also priced, with senior notes tightening by about 5bp from initial price thoughts.

  • BMW returns for second auto lease ABN

    BMW returns for second auto lease ABN

    BMW Auto Finance (China) is planning a comeback to asset-backed notes on September 17, and will replicate the structure of its April debut in the market.

  • Disaster clean-up franchise brings inaugural ABS

    Disaster clean-up franchise brings inaugural ABS

    Servpro, a property restoration and disaster clean-up business, is preparing its debut whole business securitization, adding to the long list of first time issuers that have tapped the ABS market in 2019 to take advantage of cheap financing.

  • Green price ratchet bonds will soon be everywhere

    Green price ratchet bonds will soon be everywhere

    The sustainability-linked bond issued by Enel on Thursday opens a new chapter in the green finance market. Anyone tempted to think this will be a freak should think again. The idea is sure to catch on.

  • The perils of investing in used cars

    The perils of investing in used cars

    Moody’s has downgraded Ford Motor Credit Company from investment grade to a junk rating. It is not the only auto manufacturer to run suffer a prang, however, and as more securitization issuers move into the autos sector, UK market participants need to be wary of history repeating.

  • Sterling ABS market digs in for wave of new supply

    Sterling ABS market digs in for wave of new supply

    Investors are eyeing a rush of sterling ABS and RMBS deals looking to push ahead through the Brexit window after the UK Parliament was suspended for five weeks beginning on Monday, with buysiders confident that spreads will withstand the rush of new supply.

  • ABS primary pipeline gushes as fall kicks off

    ABS primary pipeline gushes as fall kicks off

    Deal flow is picking up in the second week of September with at least $8.74bn being marketed to investors, including auto ABS offerings from seven repeat issuers across the credit spectrum.

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