Warehouse terms offer hard choice for ABS issuers

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By Tom Brown
23 Mar 2020

Warehouse terms are looking increasingly challenging for European securitization issuers as the Covid-19 shocks continue, with some less-established issuers feeling pressure to come to market while spreads are pushed wider and warehouse extensions become less economical.

Since the end of the first week of March, only two deals - Credit Immobilier de France Developpment’s Harmony French Home Loans 2020-1 RMBS and LendInvest's UK buy-to-let RMBS - have been priced. No widely syndicated deals have been placed publicly in market in the past week, with ...

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