Latest news
Latest news
SilverRock was taken over by GB Bank in March
French RMBS volumes expected to rise as lender plans on doing more than one transaction a year
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In September, LendingClub excluded individual investors in five states from investing on its platform without an explanation. While the reason was undisclosed for nearly two months, the company revealed this week that the change in eligibility is a product of the many steps it is taking to obtain a bank charter. -
Funding Circle has breached the terms of its securitization SBOLT 2018–1 — a book of loans originated on the platform and was bought by Pollen Street Capital’s P2P Global fund. The breach was driven by a shift in the company’s business model from a pure tech platform to a non-bank lender using its own capital. Funding Circle has asked investors to waive the breach.
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Container ABS sponsors are voicing concern over a lack of market activity atypical of the third quarter, a traditional peak season, with market participants fearing the lull could stretch on through mid-2020.
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Three auto ABS issuers are set to price new deals in the coming week, with euro transactions reverting back to coupons of 70bp to compensate for fluctuating Euribor rates.
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Online small business lender OnDeck is back in the market with its first securitization of the year, following a third quarter earnings comeback and the announcement of a new bank partnership with New Jersey-based Investors Bank.
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Be-Spoke Capital has mandated NatWest Markets and JP Morgan for Alhambra SME Funding 2019-1, a year after market volatility in the fourth quarter of 2018 led the issuer to shelve its first attempt at the securitization.
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Diversified Gas & Oil is preparing a debut gas royalties securitization, a prelude to a wave of similar transactions expected in 2020, as market participants say more traditional sources of funds are becoming more expensive for oil companies.
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Domino’s Pizza is preparing to sell an $800m whole business securitization backed by royalty cash flows and franchise agreements of the company’s more than 10,000 store locations.
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Fora Financial, a New York-based small business lender, is in the market with its first ever securitization, joining the growing ranks of first time ABS sponsors to tap the capital markets in 2019.
