BlackRock ABS boss hits out at pre-placed deal trend

By Owen Sanderson
17 Sep 2020

Janet Oram, head of BlackRock’s European ABS investment group, has criticised the securitization market’s recent reliance on pre-placed transactions and private book building, arguing that it hurts market transparency and price discovery.

Oram, speaking at IMN and Afme’s Virtual Global ABS conference on Thursday, said: “What we’re still seeing is an awful lot of pre-placed transactions or partially placed transactions and book builds done in private. While I understand that issuers need to have confidence in execution, it does impact ...

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