Market participants should take advantage of any spread widening in CLOs between now and year end, said Bank of America research analysts, as they predict that bonds throughout the capital stack will rally in 2020.
Ed Panek, former head of ABS investment at Janus Henderson Investors, has retired after 12 years with the firm.
Specialist trade financing company Stenn has doubled the size of its securitization facility, Stenn Assets Funding, adding non-credit insured mezzanine tranches financed by M&G and boosting the size of the senior tranches in the shelf.
Three banks sold an $810.5m single asset CMBS deal backed by a loan on the office tower at 55 Hudson Yards this week.
M&G has mandated Deutsche Bank as sole arranger for a peer-to-peer (P2P) transaction backed by loans originated from Zopa, a UK fintech which received a funding injection of £140m the same day its provisional banking license was set to expire.
Credit investment manager Medalist Partners has closed its second fund, a $308m vehicle targeting lending opportunities on cash-flowing hard assets.
GAC-Sofinco Auto Finance, a joint venture between Crédit Agricole Consumer Finance and Guangzhou Automobile Corp, wrapped up a Rmb6bn ($851m) four tranche internationally rated auto ABS deal on Thursday. The trade was priced tightly thanks to the issuer’s good relationship with banks.
GAC-Sofinco Auto Finance, a joint venture between Crédit Agricole Consumer Finance and Guangzhou Automobile Corp, wrapped up a Rmb6bn ($851m) four tranche internationally rated auto ABS deal on Thursday. The trade was priced tightly thanks to the issuer’s good relationship with banks.
Intesa Sanpaolo has fully retained a €7.5bn dual-tranche mortgage transaction, adding to its supply of retained repo collateral for central bank operations.
GlobalCapital understands distressed debt buyers are seeking advice on how to target debt issued by intu Properties, especially its 2022 convertible bonds, now trading below 70, as the shopping centre company reels from the wave of restructurings and rent reductions by some of UK’s largest retailers.
Market participants should take advantage of any spread widening in CLOs between now and year end, said Bank of America research analysts, as they predict that bonds throughout the capital stack will rally in 2020.
US middle market debt specialist and CLO manager Monroe Capital has hired four staffers to its private credit team in New York and Chicago.
GAC-Sofinco Auto Finance, a joint venture between Crédit Agricole Consumer Finance and Guangzhou Automobile Corp, wrapped up a Rmb6bn ($851m) four tranche internationally rated auto ABS deal on Thursday. The trade was priced tightly thanks to the issuer’s good relationship with banks.
| Rank | Lead Manager | Amount $bn | No of issues | Share % |
|---|---|---|---|---|
| 1 | Citi | 107.19 | 360 | 10.28% |
| 2 | JPMorgan | 97.97 | 283 | 9.40% |
| 3 | Wells Fargo Securities | 80.50 | 256 | 7.72% |
| 4 | Bank of America Merrill Lynch | 79.63 | 259 | 7.64% |
| 5 | Credit Suisse | 72.09 | 237 | 6.91% |
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