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When loans' LTVs hit 80%, Bitcoin stakes are liquidated in seconds
Equipment ABS issuance gathers momentum as investors appreciate diversification
US market remains the model as template issuance takes shape
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Specialist debt servicer Banca Ifis has pioneered a new securitization structure that will allow more investors to buy defaulted loans, offering some relief for European economies facing a rise in non-performing loans as the bloc recovers from Covid-19. -
Credibly is readying a securitization backed by loans made to small and medium-sized businesses, which will make it the first issuer to bring a small business ABS deal in 2021.
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AMAG is back in the market with the latest auto transaction from its Swiss Car ABS shelf after postponing a deal in April 2020 when the pandemic had effectively closed many capital markets.
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Credit card ABS, a market once dominated by big banks, is now seeing more participation from speciality finance lenders. With five or so years of experience under their belt, such lenders are starting to reach enough scale to enter the ABS market, and their presence will increase, based on the positive reception these deals have received in recent years.
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The European securitization market is seeing a faster pace of ESG deals but it needs to find more ESG-friendly assets before it can expect much more issuance. Peter Winning, portfolio manager and analyst in BlackRock's EMEA ABS team, spoke with GlobalCapital to outline how the world’s largest asset manager invests in ESG securitizations.
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Residential Property Assessed Clean Energy lender Renew Financial is returning to the ABS market after a two year hiatus, adding volume to a sector that continues to shrink owing to regulatory headwinds and a preference for private placements.
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Mercury Financial, a non-bank credit card company, closed its inaugural 144A securitization backed by loans originated through a bank partnership.
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Lloyds has closed one of the largest credit card securitizations to date, setting up the Wilmington Master Trust and retaining £3.35bn of prime UK credit card receivables originating from MBNA, whose UK arm it acquired from Bank of America in 2016.
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Consumer lending platform Upstart has announced the acquisition of auto retail software provider Prodigy Software, as part of its latest effort to expand into auto lending. The expansion is expected to help Upstart’s bank partnership business, in which it provides credit decisions and fraud detection services.
