Investors devour glut of European ABS in first quarter

Wave 230x150
By Asad Ali
03 Apr 2018

European ABS investors absorbed a strong wave of supply in the first quarter, as issuers sold €25.3bn of bonds, a 74% increase in deal volume compared to the first quarter of 2017, according to Rabobank analysts.

A London-based portfolio manager noted that the junior tranches of new deals were particularly in demand last quarter, with significant oversubscription in the lower rated classes, though appetite was also high for senior tranches.

The portfolio manager also pointed to healthy credit fundamentals and a strong pull ...

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