Euro securitization secondary markets leapt into action as traders see a window of spread tightening in December, crossing their fingers and hoping macro worries have abated for the remainder of the year.
BlackRock priced the tightest three year reinvestment period CLO since the pandemic hit, selling senior notes at 120bp over three month Libor and tightening the double-B spread from recent prints.
The UK's national infrastructure bank set to be launched by the government could focus on a range of green investment opportunities, including setting up a scheme like the US's Property Assessed Clean Energy (PACE) model.
Changes to the Volcker rule allowing US CLOs to hold bonds as well as loans ought to survive the shift to a new administration, but market participants will be counting the days and hoping the changes, enacted at the beginning of October, aren’t caught up in a Congressional review.
Covid-19 has transformed the secondary market in securitization in various ways — from forcing the market to take trading online to shifting the peak trading hours.
After years of trying to become anything but a bank, fintech lenders are ditching the pure marketplace lending model to become depository institutions themselves.
If 2020 was a year when sectors and broad virus news drove the market, 2021 will be the year of the credit picker, according to panellists at IMN's ABS East Virtual 2020 event, with individual loan selection more crucial than ever.
The Dutch buy-to-let market is booming ahead of an increased transfer tax on buy-to-let property, softening concerns that the pandemic would lead to a prolonged origination slump in the asset class.
The Term Asset Backed Securities Loan Facility (TALF) program will expire at the end of the year, but, despite claiming to target the CLO market, it has proved disappointing, with only Golub Capital issuing a deal which could be bought by the program.
The incoming Biden administration is likely to be more conducive to the development of the credit risk transfer market for the government-sponsored enterprises, according to panelists speaking at ABS East Virtual 2020.
GlobalCapital's ABS Daily brings you the very latest news, trends and thinking from IMN's ABS East Virtual 2020.
Conference Day Two - December 3, 2020
Cover stories
Scars from virus to haunt ABS traders long term
Consumer ABS delinquencies climbing despite ‘unprecedented’ performance
Wave of neobanks to flood fintech space
Conference Day One - December 2, 2020
Cover stories
Covid crisis set to sort CLO winners from losers
ESG, Libor to gain momentum despite polarized government
Biden administration ‘far more favorable’ to CRT market
The fallout from the Covid-19 crisis has touched nearly every economic and employment sector, from the largest corporations to the smallest businesses. The pain has prompted an unprecedented policy response aimed at rescuing economies and markets, and further measures are likely to come. US commercial real estate has been especially impacted, with commercial mortgage lending slowing dramatically, already struggling retailers going dark across the country and a likely rethinking of the use of space following a nationwide experiment in working from home.
France and Germany will end up as the largest countries in the EU's capital markets after Brexit, including in primary equity and debt markets, according to new research from the think tank New Financial.
Genius Auto Finance Co, a joint venture between Geely Automobile Holdings and BNP Paribas Personal Finance, is readying a Rmb4.04bn ($614m) Generation 2020-4 retail auto loan securitization. Pricing is expected later this week.
The UK's national infrastructure bank set to be launched by the government could focus on a range of green investment opportunities, including setting up a scheme like the US's Property Assessed Clean Energy (PACE) model.
The Dutch buy-to-let market is booming ahead of an increased transfer tax on buy-to-let property, softening concerns that the pandemic would lead to a prolonged origination slump in the asset class.
The Basel Committee has backed down from tough new changes which could have raised the costs of financing non-performing loan portfolios, allowing banks to use external ratings to assess the risk of NPL securitizations.
BlackRock priced the tightest three year reinvestment period CLO since the pandemic hit, selling senior notes at 120bp over three month Libor and tightening the double-B spread from recent prints.
France and Germany will end up as the largest countries in the EU's capital markets after Brexit, including in primary equity and debt markets, according to new research from the think tank New Financial.
Genius Auto Finance Co, a joint venture between Geely Automobile Holdings and BNP Paribas Personal Finance, is readying a Rmb4.04bn ($614m) Generation 2020-4 retail auto loan securitization. Pricing is expected later this week.
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