ABS

  • Affirm promotes two executives following growth spurt

    Affirm promotes two executives following growth spurt

    Buy now, pay later company Affirm has appointed Geoff Kott as chief revenue officer, a newly created role. The move comes as Affirm prepares an ABS for the third time this year, establishing its foothold not only as a major player in point of sale and marketplace loan issuer securitization.

  • All aboard as market flocks to container ABS

    All aboard as market flocks to container ABS

    Container ABS are becoming a bigger presence in the securitization market, thanks to a boost in demand for cargo shipping. Investors are leaping at deals from a sector that offers higher returns than other fixed income assets, including other types of esoteric ABS.

  • World Bank issues Sofr cat bond for Jamaica storm risk

    World Bank issues Sofr cat bond for Jamaica storm risk

    World Bank has raised $185m in a catastrophe bond to provide financial protection to Jamaica from the economic damage of tropical storms for the next three years. It is among the first cat bonds to be linked to the Secured Overnight Financing Rate.

  • Trafigura returns to ABS market after three year break

    Trafigura returns to ABS market after three year break

    Trafigura has launched its sixth securitization from its TFS programme, the largest trade receivables securitization programme in the world, marking a return to the market for the oil trader which pioneered inventory ABS.

  • CFPB to 'reshape markets' as it tightens grip on consumer lenders

    CFPB to 'reshape markets' as it tightens grip on consumer lenders

    The Consumer Financial Protection Bureau is casting a wider net in terms of what it considers consumer fraud to keep in line with US president Joe Biden's pro-consumer agenda. Such aggressive consumer protection measures, if they were to increase in magnitude, might create unpredictability for secondary markets and investors, sources said.

  • Italy: Europe's champion

    Italy: Europe's champion

    There is good reason for cautious optimism when it comes to non-performing loans, despite the dire predictions made last summer. Italy, which has been dogged by NPL problems for years, is a prime example of how well things appear to be turning out, more than a year after the start of the pandemic.

  • Heavy traffic in auto ABS as recovery rates hit highs

    Heavy traffic in auto ABS as recovery rates hit highs

    The auto ABS market is chomping its way through a glut of deals with five priced so far this week, ranging from a prime auto loan offering from General Motors to a subprime transaction from Foursight Capital, and more to come. The deal spree comes as the recovery rates for auto ABS rose to unprecedented levels during this quarter, according to Deutsche Bank, boosting sector credit fundamentals.

  • BMW UK auto loan ABS guidance marks spread shift

    BMW UK auto loan ABS guidance marks spread shift

    BMW has mandated Lloyds and Santander, along with co-managers RBS Capital Markets and SMBC Nikko, for Bavarian Sky UK 4. Arrangers released guidance on Wednesday for the senior notes in the high 30bp to around 40bp.

  • Bundt cake franchise cooks up whole biz ABS

    Bundt cake franchise cooks up whole biz ABS

    Gourmet cake franchise Nothing Bundt Cakes is baking up a $359m securitization, the first bakery concept to come to the market since the inception of whole business ABS. The deal signals the return of innovation in the market as investors grow comfortable with purchasing highly esoteric deals.

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Every Friday, we break down the biggest themes and takeaways from GlobalCapital’s weekly reporting to give you a look at what is happening across consumer and esoteric ABS, RMBS, CMBS and CLOs.




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