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GC Asia
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Wave of consolidation to strengthen PACE securitization
Property Assessed Clean Energy (PACE) lenders are starting to hear rumblings of consolidation in the industry, a sign of a maturing industry. The mergers and acquisitions are expected to leave a smaller number of stronger national players to roam the market.
27 Jan 2021 -
NewDay sets up master issuer structure within its master trust
NewDay has streamlined its credit card ABS offering by setting up a master issuer within its existing master trust vehicle, to smooth out deal execution.
27 Jan 2021 -
Opportunities abound in container ABS after booming 2020
Container ABS thrived last year, setting a new issuance record after two decades. Several factors are working in favor of container ABS this year as well, including increased consumption of goods and an opportunity for containers to be used in vaccine distribution.
26 Jan 2021 -
ABS issuers bet investors will keep binging
New deals are flooding into the European securitization market, especially the UK, in the last week of January after two RMBS issues attracted unprecedented demand. Issuers are betting investors remain hungry for structured products, despite national lockdowns.
26 Jan 2021 -
New CFPB leader may have 'deleterious' impact on ABS market
Rohit Chopra has been named the director of the Consumer Financial Protection Bureau, putting an end to three years of deregulation and kicking off an era of aggressive consumer protection. The ABS market is keeping a close eye on Chopra’s key plans, which include restoring the bureau’s ability to start its own investigations and establishing a new credit reporting agency.
25 Jan 2021 -
Energy firms facing insolvency bank on ABS
Securitization is emerging as the last resort for some US oil and gas companies seeking funding. Banks are deserting the equity and reserve-based lending markets they rely upon. But investors have proved eager to deploy capital in well-structured shale deals that can yield as much as 6%, meaning the ABS market may provide a lifeline for the struggling energy firms, writes Jennifer Kang.
21 Jan 2021 -
Moody’s rates first aircraft ABS in 10 years
Castlelake priced the first aircraft securitization since the pandemic on Wednesday, kindling hopes of revival in a battered sector most severely hit by Covid-19. The deal is also the first aircraft transaction that Moody’s has rated in more than 10 years, following a change in rating methodology by the company.
20 Jan 2021 -
LendingClub becomes first fintech-turned-bank
Online lender LendingClub successfully passed all the regulatory hoops required to acquire Radius Bank, the company said on Tuesday morning, making it the first public US neobank. The deal will officially close on February 1.
19 Jan 2021 -
People news in brief
Natixis promotes DCM bankers — Powell quits IFAD job — NatWest Markets makes Peberdy, Donaldson and Manwaring's positions permanent
14 Jan 2021 -
Student ABS lenders hit by steep declines in college enrollment
Navient is issuing the first student loan securitization of 2021 as the sector continues to battle political headlines and a decline in student post-secondary enrollment.
14 Jan 2021
