Issuers prep wave of deals to thaw frozen ABS primary

auto ABS
By Jennifer Kang
13 Apr 2020

The ABS market is expected to reopen in the next week, as indicated by a burst of pre-sale reports and ABS-15G filings. While markets have been soothed by spread tightening for the second week in a row, the full effect of central bank measures such as TALF 2.0 needs to be seen before issuers flock back to market, sources say.

On Monday, rating agencies issued pre-sale reports for three deals from RAC King, Santander and GM Financial. In total, six ABS issuers have filed preliminary documents since the Term Asset Backed Lending Facility (TALF) was revived on March 23,  with deals in the works from Toyota, CPS ...

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