Securitization

S&P Global Ratings this month downgraded four class ‘E’ notes of recent subprime auto deals issued by Consumer Portfolio Services from 2016 and 2017.

19 Sep 2019

Downgrades may point to shifting auto views at S&P, DB says

S&P Global Ratings this month downgraded four class ‘E’ notes of recent subprime auto deals issued by Consumer Portfolio Services from 2016 and 2017. Deutsche Bank analysts said this week that the move might imply the rating agency is growing more cautious on the sector, signaling that downgrade and default risks for subprime auto ABS are on the rise as the cycle turns.

19 Sep 2019
Largest post-crisis public Spanish ABS prices tight of guidance
Issuers price a dozen ABS to send volume past 2018 levels

Leeds Building Society RMBS draws heavy demand

Leeds Building Society marked a successful RMBS return with class ‘A’ spread set at 68bp over Sonia after markets saw a respite from Brexit headline risk.

18 Sep 2019
Court ruling frees Spanish mortgages from legal purgatory
European auto ABS navigates market volatility

Orrick adds structured finance lawyer in London

Orrick, Herrington & Sutcliffe has hired a structured finance lawyer to join its team from Ropes & Gray, the firm's third London hire in a month.

19 Sep 2019
CMBS issuers pitch nearly $3bn in CMBS
Court ruling frees Spanish mortgages from legal purgatory

CBAM Partners hires Levilain to help euro loans launch

CBAM Partners said it has hired Axa Investment Management’s loans and private debt co-head Jean-Philippe Levilain to help launch its European business.

09 Sep 2019

BMW drives home second auto lease ABN

Herald International Financial Leasing, a subsidiary of BMW, bagged its second Rmb2.5bn ($353m) auto lease asset-backed note on Tuesday, pricing the dual-tranche deal at the tighter end of the price guidance range.

18 Sep 2019
LSEG spurns HKEX's £32bn takeover bid
HKEX overture fails to move LSE and Refinitiv stakeholders

Green price ratchet bonds will soon be everywhere

The sustainability-linked bond issued by Enel on Thursday opens a new chapter in the green finance market. Anyone tempted to think this will be a freak should think again. The idea is sure to catch on.

10 Sep 2019
The perils of investing in used cars

Moody’s has downgraded Ford Motor Credit Company from investment grade to a junk rating. It is not the only auto manufacturer to run suffer a prang, however, and as more securitization issuers move into the autos sector, UK market participants need to be wary of history repeating.

10 Sep 2019

The 2019 GlobalCapital US Securitization Awards: The Winners

GlobalCapital held its sixth annual US Securitization Awards at New York's Metropolitan Club on Wednesday, May 8.

09 May 2019
GlobalCapital European Securitization Awards 2019: The Winners

GlobalCapital hosted its first annual European securitization awards in London on Wednesday, March 13.

14 Mar 2019
The Annual GlobalCapital US Securitization Awards: The Winners

GlobalCapital held its fifth annual US Securitization Awards dinner at Manhattan's Metropolitan Club on Wednesday, May 30.

31 May 2018

Rank	Lead Manager	Amount $m	No of issues	Share %
1	Citi	81,093.37	271	10.55%
2	JPMorgan	71,258.98	217	9.27%
3	Wells Fargo Securities	58,772.64	181	7.65%
4	Bank of America Merrill Lynch	58,092.06	191	7.56%
5	Credit Suisse	55,321.64	177	7.20%

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