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Buy now, pay later provider finds two big new investors
Deal comes after a silent fortnight for euro public ABS
Specialist lender returns after 2024 debut
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NewDay has streamlined its credit card ABS offering by setting up a master issuer within its existing master trust vehicle, to smooth out deal execution. -
Container ABS thrived last year, setting a new issuance record after two decades. Several factors are working in favour of container ABS this year as well, including increased consumption of goods and an opportunity for containers to be used in vaccine distribution.
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New deals are flooding into the European securitization market, especially the UK, in the last week of January, after two RMBS issues attracted unprecedented demand. Issuers are betting investors remain hungry for securitized products, despite national lockdowns.
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Rohit Chopra has been named the director of the Consumer Financial Protection Bureau, putting an end to three years of deregulation and kicking off an era of aggressive consumer protection. The ABS market is keeping a close eye on Chopra’s key plans, which include restoring the bureau’s ability to start its own investigations and establishing a new credit reporting agency.
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Securitization is emerging as the last resort for some US oil and gas companies seeking funding. Banks are deserting the equity and reserve-based lending markets they rely upon. But investors have proved eager to deploy capital in well-structured shale deals that can yield as much as 6%, meaning the ABS market may provide a lifeline for the struggling energy firms, writes Jennifer Kang.
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Castlelake priced the first aircraft securitization since the pandemic on Wednesday, kindling hopes of revival in a battered sector most severely hit by Covid-19. The deal is also the first aircraft transaction that Moody’s has rated in more than 10 years, following a change in rating methodology by the company.
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Online lender LendingClub successfully passed all the regulatory hoops required to acquire Radius Bank, the company said on Tuesday morning, making it the first public US neobank. The deal will officially close on February 1.
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Navient is issuing the first student loan securitization of 2021 as the sector continues to battle political headlines and a decline in student post-secondary enrollment.
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Natixis promotes DCM bankers — Powell quits IFAD job — NatWest Markets makes Peberdy, Donaldson and Manwaring's positions permanent
