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Latest news
◆ Issuance abounds despite Iran-Israel escalation ◆ European securitization regulatory proposals unveiled ◆ A digital first for sovereign bonds
The EC’s regulatory proposals for securitization are broadly positive, but some reforms are questionable
While generally positive, some proposals are raising concerns
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Fintech asset manager Pagaya hired Peter Silberstein as head of capital development, the latest addition to its asset management division. Pagaya has added five team members in the last six months, including head of originations and head of structured products. -
The auto ABS sector has begun humming with activity in a busy securitization market, with VW Bank opening the books for its latest VCL transaction on Monday, alongside the announcement of a LeasePlan deal.
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Boudewijn Dierick, BNP Paribas’ head of ABS and covered bonds, is leaving the bank to join Auxmoney, a German consumer lender which set up a €500m warehouse with BNP Paribas in November.
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DataBank, a subsidiary of data centre firm Digital Bridge, is preparing an inaugural securitization. This is the fourth Digital Bridge company to tap the ABS market amid growing appetite for infrastructure assets.
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Belgian point-of-sale lender Buy Way Personal Finance is bringing a rare public securitization of consumer loans backed by assets in both Belgium and Luxembourg. The deal is only the fourth Belgian transaction issued since 2008.
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The EU Commission is rushing to untangle legislation that would have stopped EU investors from buying Australian securitizations or covered bonds, after the country ended up on the EU’s list of non-cooperative tax jurisdictions.
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Southern California Edison has priced its first securitization in more than 20 years, the proceeds of which it will use to finance upgrades and other costs associated with its wildfire prevention program.
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Innovation and yield are returning to the franchise ABS sector as US market conditions improve, much to investors’ delight. Issuers beyond the typical restaurant franchises that dominate supply are eyeing entry into the securitization market, starting with home improvement companies.
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More securitizations of UK government-backed SME loans are being executed in private, with Funding Circle, a pioneer in the market, closing a deal with Sixth Street and Barclays in late January.
