Post-coronavirus comeback expected after most Q2 ABS to be retained
The Bank of England’s Term Funding Scheme for small and medium-sized enterprises (TFSME) is encouraging retained issuance in European ABS planned for the second quarter, but publicly syndicated deals are expected to rebound once the Covid-19 crisis subides.
As other markets reopen, almost all ABS deals planned for the coming quarter have been retained, sources said, with the BoE scheme encouraging issuance. The new scheme provides a cheaper source of funding for banks when spreads are wide.The programme was restarted as the coronavirus crisis unfolded, with ...
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