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Whole business securitization called 'a coup' but doesn't reach $700m target
Fluvius, Kojamo and Affinity Water hold investor calls
Sandwich chain joins host of ABS issuers
There is no crock of equity gold at the end of the rainbow
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Macquarie Leasing priced the first Australian asset-backed securitisation of the year last week, after making only its second ever approach to US investors. But high costs and complex regulation could prevent other issuers following Macquarie into the US market.
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Macquarie Leasing launched a dual currency securitisation backed by auto leases on Tuesday, targeting US investors for the second time in a year.
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Lloyds Banking Group is planning a novel securitisation of private finance initiative (PFI) receivables in a deal that could provide a new funding route in the absence of the monoline wraps that were historically used to give PFI deals a triple-A rating.
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Inversiones Alsacia, a Chilean bus concession company, launched an innovative $464m securitisation this week. The 7.5-year deal was priced at 8%, with Bank of America Merrill Lynch, JP Morgan and Pierce, Fenner & Smith lead managing.
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Punch’s securitisations have been on a roll this week, with cash prices on the M1 notes in Punch A trading up from 77 to 82.5 and yields on the senior notes coming in from the 9.5% area to 8%. This comes after a string of negative headlines last year suggesting that Punch might abandon Punch A and B, which are securitisations of cashflows from Punch’s tenanted pubs.
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Punch’s securitisations have been on a roll this week, with cash prices on the M1 notes in Punch A trading up from 77 to 82.5 and yields on the senior notes coming in from the 9.5% area to 8%. This comes after a string of negative headlines last year suggesting that Punch might abandon Punch A and B, which are securitisations of cashflows from Punch’s tenanted pubs.