Latest news
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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Italy’s NPL collections have begun edging back to normality, with December’s collections 71% higher than those in November. The latest collection figures are the highest since the pandemic began. -
Whole business ABS deals are trading at a premium or on par in the secondary market, following improved US consumer activity and market conditions. Sources say the strong secondary levels signal the asset class is set to make a strong comeback this year.
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FortiFi Financial is returning to the market with the first property assessed clean energy (PACE) deal of the year. It is also the first time FortiFi, formerly known as Energy Efficient Equity (E3) is issuing under its new name.
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GlobalCapital spoke to Andre Hakkak, chief executive of White Oak Global Advisors, a fund specialising in SME, asset-based and direct loan origination, about the Covid crisis in the SME world, the coming end of government support, the end of Ebitda and the challenges of fundraising in a pandemic.
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Trinity Industries published a framework that will guide its efforts to produce green ABS, deals that will be directly linked to reducing greenhouse gases. The framework is the answer to investors’ calls for green label deals, which are rare and in high demand in the securitization market.
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Santander has added a further €500m to what was already an €1.2bn deal, making Santander Consumo 4 the biggest ABS trade of 2021 so far. Final pricing for the increased €1.26bn class ‘A’ tranche came in at 48bp over three-month Euribor.
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The UK’s Universities Superannuation Scheme Investment Management (USSIM), the biggest pension fund in the country, is looking to break into the ABS market.
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GreenSky is making its first foray into the securitization market with a deal backed by consumer loans used to finance home improvement products and services. The point of sale ABS sector is finally starting to see meaningful growth, with Affirm establishing itself as a regular issuer and GreenSky adding volume.
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Tight spreads and increasing pressure on FFELP student loans are driving investors into what they regard as the best hiding place in the asset class — private student loans. Although lacking in yield, private refi loans are attracting investors with their solid borrower base during a time of crisis.
