Sterling-heavy Q1 in store for securitization

The securitization market is expecting January to be dominated by sterling issuance, after a Brexit deal was finalised on Christmas Eve, with non-bank issuers revving up for 2021. SPV filings suggest Cerberus, Davidson Kempner, Belmont Green, and Kensington are all readying deals.
January is more likely to be front-loaded with sterling issuance left over from 2020, said the head of ABS syndicate at a bank, when Brexit uncertainty and an additional lockdown deterred some UK-based issuers from tapping the market. The rest of European issuance will probably follow later on
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