Latest news
Latest news
First public music royalty-backed deal since November
Premium pricing for master trusts may be beginning to wear off
More articles
More articles
-
The European ABS market remains confident despite the inconclusive outcome of the US presidential election as GlobalCapital went to press on Wednesday. The sector is one of the few capital markets to see deal activity this week, with Citizen Irish’s auto ABS pricing late on Wednesday. -
Navient and CommonBond both brought private credit student loan ABS deals to the market on the cusp of US elections. Depending on the outcome, lenders will have to navigate a sector fraught with risk as reform supported by the Democrats could tamp down student debt in borrowers’ payment priority.
-
First Citizen Finance is the only issuer out in the European ABS market this week, marketing an Irish auto ABS deal on the day of the US election, aiming to price between the high 70bp-80bp.
-
Marketplace lender SoFi has received approval from the Office of the Comptroller of the Currency (OCC) to obtain a national bank charter, boosting its position as a contender among incumbent banks and online lenders active in the ABS market.
-
The ECON committee of the European Parliament has pushed back a meeting to agree on proposed amendments to the securitization market, making it unlikely that the UK will be able to adopt the same measures before Brexit. The divergence could pin ABS as the first capital market to see significant divisions between the UK and the EU after the two entities separate.
-
Competitors are beginning to circle Wells Fargo’s chunky share of the US student loan market. The opportunity is particularly attractive for non-bank ABS issuers such as Navient and Sallie Mae, sources say, who are looking to translate demand into new origination volumes. Jennifer Kang reports.
-
Unsecured consumer lender Oportun, known to primarily serve customers with less access to traditional banking services, including low income and immigrant communities, is returning to the securitization market. It is the first deal from the issuer since coming under fire for filing more lawsuits than any other personal loan company in California and Texas.
-
Citizen Irish has mandated Deutsche Bank as arranger and Citi as joint-lead manager for a new Irish auto ABS, the third deal to come from the issuer after a two-year break.
-
Citi announced on Tuesday that it is planning to securitize a €1.2bn portfolio acquired from Permanent TSB.
