Latest news
Latest news
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
€300m of reoffered bonds priced at par, another tranche to be placed privately
More articles
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Two NPL securitizations originated via the Italian guarantee scheme (GACS) have hit trouble following a fall in collections due to the coronavirus crisis, with the deals triggering interest payment shortfalls on the junior notes. -
Italian debt servicing specialist doValue is refinancing its acquisition of a Eurobank debt platform to position itself as a dominant NPL servicer in Europe, ready for the next generation of defaulted loans.
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The level of Covid-19 payment holidays affecting specialist UK lenders in the UK and fears over the future of the country's economy have failed to dampen demand for their debt among UK RMBS buyers, with the lack of public issuance boosting interest in publicly placed deals.
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The European Commission has included measures to improve the regulatory framework for non-performing loan securitizations in its latest coronavirus response package, while also beginning the classification of synthetic securitizations to qualify for the ‘simple, transparent and standardised’ (STS) designation.
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UniCredit sold two non-performing loan (NPL) portfolios worth a combined £1.54bn over Tuesday and Wednesday this week, both through a securitization vehicle which sold notes to Barclays and Guber Banca.
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A flurry of UK RMBS deals have come to market in recent days, marking a comeback for the sector as triple-A spreads return to pre-Covid levels.
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Coventry Building Society (CBS) has mandated HSBC and Lloyds to arrange its first issuance from Economic Master Issuer 2020-1, the first UK master trust structure set up since 2008. Books are building for the deal with initial price thoughts (IPTs) guiding the senior tranche in the low 50bps.
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The UK government has launched a review to find ways to boost the country’s fintech sector, a week after the Bank of England told alternative and non-bank lenders they would not receive emergency funding to support them during the pandemic.
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New deals have priced in the public securitization market this week from Together Money and Qander Consumer Finance, with triple-A notes for the latter breaking through guidance as issuers take advantage of a stabilising market.
