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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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S&P Global Ratings this month downgraded four class ‘E’ notes of recent subprime auto deals issued by Consumer Portfolio Services from 2016 and 2017. Deutsche Bank analysts said this week that the move might imply the rating agency is growing more cautious on the sector, signaling that downgrade and default risks for subprime auto ABS are on the rise as the cycle turns. -
Banco Sabadell has priced its first public ABS deal since the financial crisis via sole arranger Deutsche Bank, pricing the bonds tight of guidance levels released earlier in the week.
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ABS issuers priced a dozen new transactions in just the first three days of the week, sending primary issuance volume surging past levels seen year to date in 2018.
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Phil Narodick, who launched residential solar ABS issuer Mosaic's first loan product as director of financial products in 2014, has started a new job at SunPower Corp.
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Servpro, a property restoration service, is on its way to price an inaugural whole-business securitization. As of Tuesday afternoon, the transaction was around seven times subscribed at 3.9% yield, sources familiar with the deal said.
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A recent Spanish Supreme Court ruling on NPL foreclosures will help buyers of poorly performing mortgage portfolios avoid years of potential legal proceedings.
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Hewlett Packard Enterprise saw its inaugural small ticket equipment securitization oversubscribed by eight times at the end of last week.
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Sterling paper dominated European securitization issuance last week as issuers rushed ahead of further Brexit developments, with a particular focus on the auto ABS market, which saw three deals clear the pipeline.
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Cairn Capital has financed two securitization issuances through its receivables programme with US fintech firm FastPay and UK consumer loan originator Valour Finance.
