Latest news
Latest news
BWICs spiked after 'liberation day' but the asset class remains unsuited to trading
Senior note pricing starts 50bp wide of secondary market
Upcoming Blackstone CMBS trade expected to add to record issuance
More articles
More articles
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The private student loan ABS sector exceeded 2019 issuance volume last week, with the addition of SoFi’s fourth transaction, as more borrowers rush to refinance their student loans while rates remain at historic lows. -
Specialist lender White Oak has sponsored the first securitization of Coronavirus Business Interruption Loan Scheme (CBILS) loans, a £150m private transaction with Barclays, enabling it to recycle capital into the final 15 days of the government-backed lending programme.
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InSite Wireless Group and Vertical Bridge are returning to the ABS market with new cell tower securitizations, encouraged by low rates and growing demand for wireless services.
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Nat Hoopes is leaving the Marketplace Lending Association (MLA) to join online lender Upstart as vice president and head of public policy and regulatory affairs. The newly created role will focus on increasing Upstart’s presence in Washington, helping policy makers understand the benefits of alternative lending.
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Market players applauded the New York State Legislature for passing the “C-PACE Bill”, legislation to allow commercial property owners to tap property assessed clean energy (PACE) financing for new construction projects. Expected to be signed into law in coming weeks, the bill unlocks an untapped market for issuers and is likely to drive origination volumes to new heights, said panellists at IMN’s Solar, PACE and ESG Investing conference.
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Raging wildfires in California and the growing intensity of natural disasters in other parts of the country is likely to spur a shift to solar power, as consumers deal with rolling blackouts and look for cheap reliable power, according to speakers at IMN’s Solar, PACE and ESG Investing conference last week.
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Securitization data repositories proposed by Dutch MEP Paul Tang back in 2016 will begin their application process on September 23 this year, requiring both EU and UK ABS issuers to report data to the new entities.
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US ABS investors are wading deeper into the market for esoteric assets, prompted by the Federal Reserve’s updated view on inflation that is sure to keep rates lower for longer and further compress yields across fixed income. Jennifer Kang reports.
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Kroll Bond Rating Agency has downgraded all outstanding ratings on TGI Friday’s securitizations as the franchise scrambles to adjust to new consumer behaviour toward casual dining. The spate of downgrades in the whole business space is still raising concerns over whether current ratings reflect the true risk in the deals, as some issuers waive management fees during the months of pandemic.
