Latest news
Latest news
Aviation loan ABS senior spread at 105bp over
Cash SRT pipeline fires up earlier than usual
A new European data centre sponsor, Dutch buy-to-let back in business, CLO equity squeezed and a Bitcoin backed deal
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Brexit has been a slow-burning problem for the City of London, but burning it is. Financial markets are regulated. With worse access to Europe, the UK must make itself attractive to financial firms in other ways. -
European Commission amendments to the regulation governing eligibility towards the liquidity coverage ratio (LCR) has left the ABS industry disappointed, with the treatment for ‘simple, transparent and standardised’ (STS) instruments no better off and existing investments losing beneficial treatment. The move could have a chilling effect on banks’ willingness to increase participation in European securitization.
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The insurance industry may be well established in developed countries, but protection against disasters remains patchy. Helping the resilience of entities trying to bridge this gap is a way for socially responsible investors to show their worth.
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With the summer holiday season just around the corner, the flood of new issue euro ABS deals, seen following the IMN Global ABS conference, has turned into a trickle, with just one new mandate announcement on Thursday adding to three deals looking to price in conditions favouring investors.
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CleanFund Commercial PACE Capital has launched its maiden asset-backed securitization.
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Planet Fitness is issuing a whole business securitization, a first for the North American fitness franchise.
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Arranger UniCredit, with Commerzbank as joint lead manager announced a new €807m German auto loan ABS deal on Thursday — Silver Arrow Compartment 9 from Mercedes-Benz Bank — with DZ Bank, MUFG and SMBC Nikko as co-managers. It is the German auto maker's ninth auto loan securitization.
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Together Financial Services Limited (Together) is boosting its commercial real estate (CRE) lending strategy with the announcement on Wednesday of a £525m warehouse facility to support growth, adding to three other existing private facilities.
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S&P Global Ratings this week flagged the risk of a drop in used car prices, particularly in diesel vehicles, causing future losses in European auto ABS deals.
