Latest news
Latest news
Sponsors also inject $35m of equity
Pepper Advantage will service £50bn of UK mortgages at completion
George Smith talks to Tom Hall about an exciting deal in the pipeline, good conditions for SME financing and more supply from Santander
More articles
More articles
-
Debut Finnish issuer LocalTapiola Finance has mandated BNP Paribas for its first auto ABS transaction, bringing a single offered tranche with a pre-set 70bp coupon over one-month Euribor on offer. -
The G20’s Financial Stability Board is cranking up its action on climate change again now that Donald Trump is no longer US president. This will feed the hopes of some sustainable finance supporters who want the FSB to drive progress on issues including environmental accounting.
-
Domino’s Pizza is preparing a new ABS transaction which will fund a shareholder dividend, as well as refinancing a portion of its outstanding securitization debt. With US consumer spending quickly recovering, most whole business ABS paper has become very expensive, making it less of an attractive option for investors looking for high returns, sources say.
-
Morgan Lewis has added Steven Becker and Alex Velinsky to its structured transactions team, bolstering a practice the firm has been growing recently. Both partners join from Hunton Andrews Kurth.
-
Investors are expecting the wave of consolidations in the aviation sector to continue beyond the GECAS-AerCap merger as smaller lessors look for ways to survive and bigger players seek for investment opportunities. The most recent example is Carlyle Aviation’s acquisition of Fly Leasing, another deal that highlights the monumental changes occurring within the aircraft sector in the midst of Covid-19.
-
Subprime and deep subprime auto lending activity has reached its lowest level since the 2008 financial crisis, as the pandemic forced lenders to take a cautious approach. But this has also helped soothe concerns market participants had about the resilience of the sector to another crisis. Tighter criteria has meant the quality of borrowers in subprime pools is improving, which should lead to better performance in subprime auto securitizations, sources say.
-
The European Central Bank has given itself the mission of creating a liquid non-performing loan (NPL) marketplace. Only this time, it’s online. Real estate managers like Prelios are attempting to remove barriers to NPL sales, but Europe’s multiple jurisdictions present legal hurdles.
-
The Consumer Financial Protection Bureau plans to revive the ‘ability to pay’ rule, rescinded in the Trump era, a move which will tighten its grip on payday lenders. While it may be beneficial to have deceptive payday lending practices eliminated, the new rule may stifle the growth of speciality finance lenders and take away a valuable source of funding for borrowers, sources say.
-
Corporate credit card provider Brex completed an inaugural securitization backed by non revolving corporate card accounts for small and medium sized businesses.
