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Latest news
First public music royalty-backed deal since November
Premium pricing for master trusts may be beginning to wear off
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LendingClub is retiring its retail notes platform at the end of 2020 as the company continues to walk the path of becoming the first fintech-turned-bank. This marks the end of an era for the online lender, which pioneered the peer to peer model in the earliest days of marketplace lending, sources say. -
The European Parliament’s proposals on the role of the securitization in fixing the European economy are set to nullify any benefit STS might grant to the synthetic market. With Europe’s economy at stake, the Parliament must decide whether ABS is a hindrance or a help.
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The European Commission is facing pushback from the European Parliament over it turning to synthetic securitization — a market that still echoes the 2008 crisis for many legislators — to boost the ABS market and repair Europe’s economy in the aftermath of Covid-19. Tom Brown reports.
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European ABS continues to tighten in the primary market, but in sterling, sources say Brexit risk is likely to deter the majority of public issuance.
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Point of sale lender Affirm is returning with its third securitization of the year, becoming a more frequent securitization issuer as it enjoys steady growth and more attention from investors.
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ViViBanca has mandated Société Générale as arranger and Intesa Sanpaolo as joint-leads to price a €344.7m Italian consumer ABS deal backed by salary and pension assignment loans, Eridano II.
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The European Investment Fund has subscribed to €43m of an electric and hybrid car lease ABS from rental care company Avis, which has raised €130m via Cronus Finance, the largest non-bank Greek securitization issued to date.
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Marketplace lenders are pushing deals through the ABS pipeline in October, while also planning for the potential undoing of policy breakthroughs achieved in the last four years under a market-friendly Trump administration.
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The European Union’s formation of its Platform on Sustainable Finance last week marks a new phase in responsible investing. Over the past four years or so, the most influential thinkers in the market, such as the Principles for Responsible Investing, have been quietly moving back to an older interpretation of what RI means: considering the effects of investment choices on others.
