First, the most exciting news of the week: Another Fine Mezz is coming to the stage at Global ABS! Come and watch our live show on the spotlight stage of the exhibition hall at 10:45am on Tuesday, June 9. It should be fun and hopefully informative — and it’s only half an hour!
George Smith, Tom Hall and Thomas Hopkins will all be at the conference from Monday to Thursday. Reach out by emailing firstname.lastname@globalcapital.com if you want to catch up or chat about the market.
This week on the podcast, Thomas Hopkins discusses how CLO managers can deal with the recovery in leveraged loan prices, and Tom Hall discusses his story on Bank of America’s Frontier Mortgage Funding 2026-1.
The 2026-1 edition is the second Frontier trade. It’s an unusual deal, backed by Santander UK mortgages, but sponsored by Bank of America. There are advantages for both sides — Santander gets a clean disposal of the portfolio, while Bank of America can make a return for its services.
That trade was priced on Tuesday. It was one among seven ABS trades priced or planned for pricing this week. There are also at least seven CLOs in the pipeline.
Issuers’ enthusiasm to push deals through before Global ABS points to a public primary market in good health. But behind the scenes, worries about the risk of fraud have materially moved the bid in private markets, particularly for providing senior warehouse lines to sectors of the specialist lending market.
It’s an interesting dynamic for conference delegates to reckon with. If you’re there, make sure you watch the next episode of Another Fine Mezz live!
