The end of government control of Fannie Mae and Freddie Mac drew one step closer this week, but a US Supreme Court ruling on the leadership structure of the Consumer Financial Protection Bureau (CFPB) raises the possibility that the course could be reversed under a new government after November's election, write Max Adams and Jennifer Kang.
Angelo Gordon has broken the record recently set by Albacore to print new post-coronavirus tights, with Bank of America leading the senior notes to land at a discount margin (DM) of 150bp.
Banca Generali has used a non-profit securitization structure to channel more funds to SMEs, offering a model which be rolled out across Italy and further afield.
Triple-A spreads on new issue CLOs hit 160bp this week, the tightest since the start of the pandemic, as GSO priced a $361m transaction arranged by BNP Paribas.
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.
Qander Consumer Finance, owned by hedge fund Chenavari, has announced a new transaction from its Aurorus consumer ABS shelf, with arrangers ABN Amro and Deutsche Bank helping to place the deal.
It can hardly be said that the process of releasing Fannie Mae and Freddie Mac out of government conservatorship has been rushed. The painstaking process has taken place over the course more than a decade and has consumed the Federal Housing Finance Agency (FHFA) through two presidential administrations. And yet, FHFA capital requirements proposals published this week for the government-sponsored enterprises (GSEs) may not go far enough to ensure their safety and soundness.
Tianjin Great Wall Binyin Automotive Finance is gearing up for a new Rmb3.37bn ($477m) auto loan ABS in China. For the first time, the issuer has obtained an international rating for its deal.
Qander Consumer Finance, owned by hedge fund Chenavari, has announced a new transaction from its Aurorus consumer ABS shelf, with arrangers ABN Amro and Deutsche Bank helping to place the deal.
The end of government control of Fannie Mae and Freddie Mac drew one step closer this week, but a US Supreme Court ruling on the leadership structure of the Consumer Financial Protection Bureau (CFPB) raises the possibility that the course could be reversed under a new government after November's election, write Max Adams and Jennifer Kang.
A group of lawmakers led by Texas Republican Van Taylor has sent a letter this week to secretary of the Treasury Steven Mnuchin and chairman of the Federal Reserve Jerome Powell, urging them to address the ‘looming crisis’ in the commercial real estate market, particularly for struggling borrowers saddled with CMBS debt.
Angelo Gordon has broken the record recently set by Albacore to print new post-coronavirus tights, with Bank of America leading the senior notes to land at a discount margin (DM) of 150bp.
US middle market debt specialist and CLO manager Monroe Capital has hired four staffers to its private credit team in New York and Chicago.
Tianjin Great Wall Binyin Automotive Finance is gearing up for a new Rmb3.37bn ($477m) auto loan ABS in China. For the first time, the issuer has obtained an international rating for its deal.
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