Latest news
Latest news
January's ABS data center deals see tenant numbers drop but demand remains strong
Deals including some commercial mortgages expected to follow
Deal was priced 6bp tighter than most recent iteration of the asset class
More articles
More articles
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Reforms to personal bankruptcy regimes in various countries along the lines of the US Chapter 13 code could improve non-performing loan (NPL) markets by boosting transparency and certainty, according to Charles Rusbasan, chief executive of Balbec Capital, which has just raised a new $1.2bn fund to buy NPLs where borrowers are subject to insolvency proceedings, restructuring or other forms of distress. -
Investor optimism in US securitization is growing as the global economy comes back to life. But the market is failing to price in the possibility that we will see another wave of Covid-19 infections and that government stimulus will eventually come to an end.
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ABS spreads are moving towards pre-pandemic levels as investors grow optimistic over recovering unemployment numbers and the reopening of New York City and other major economic centers.
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Banco Bilbao Vizcaya Argentaria (BBVA) has mandated Deutsche Bank as sole arranger and lead manager for its €1.105bn Spanish auto loan securitization, BBVA Consumer Auto 2020-1. Most of the deal has been preplaced, but €322m of senior notes are on public offer this week.
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Participants in the sustainable bond market are considering allowing issuers to publish their sustainability frameworks after issuing bonds, instead of before. This would be a major change in market practice.
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Moody’s put aircraft ABS issuers AerCap, Aircastle, ACG, Avolon and DAE on review for downgrades due to the slower than expected recovery of the travel industry. The update follows a series of negative headlines, including AerCap’s delay of aircraft deliveries and the bankruptcy of LATAM Airlines.
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Covid-19 has shifted some of the attention away from ESG, but the demand for solar and Property Assessed Clean Energy (PACE) securitizations is still high, sources say, and the virus may bring opportunities for sustainable asset classes to thrive.
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Non-bank trade finance provider Stenn has boosted the size of its main securitization facility, adding Barclays as a new senior lender, despite a backdrop marred by pandemic-related disruptions to short-term markets, and the high profile collapse of commodity trading firms Hin Leong and Agritrade.
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Cell tower operator Vertical Bridge closed a $534m ABS deal last week, with orders exceeding the amount of bonds offered by 10 times.
