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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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The UK’s Universities Superannuation Scheme Investment Management (USSIM), the biggest pension fund in the country, is looking to break into the ABS market. -
GreenSky is making its first foray into the securitization market with a deal backed by consumer loans used to finance home improvement products and services. The point of sale ABS sector is finally starting to see meaningful growth, with Affirm establishing itself as a regular issuer and GreenSky adding volume.
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Tight spreads and increasing pressure on FFELP student loans are driving investors into what they regard as the best hiding place in the asset class — private student loans. Although lacking in yield, private refi loans are attracting investors with their solid borrower base during a time of crisis.
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Investment advisory firm National Investment Services has appointed Stephen Smitley as a portfolio manager focused on municipals and structured products.
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John McElravey has joined the Federal Reserve Bank of Boston as a markets specialist as of February 8. The capital markets veteran joins from First XV Partners and previously Wells Fargo, where he was a lead ABS research analyst.
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Investors are devouring whatever comes through the US securitization pipeline, leading to big oversubscriptions and tight spreads across all sectors. While January is traditionally hectic in the primary market, sources say the market is moving faster this year. Investors are looking to deploy cash early in the hope of being able to avoid a volatile market later in the year, should the coronavirus pandemic deteriorate, writes Jennifer Kang.
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HSBC's Henry to retire — European Commission borrows IR and funding officials from EIB — Paterson joins CQS
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Santander is bringing the largest deal from its Spanish consumer loan securitization shelf to date, with the €1.79bn Santander Consumo 4 offering a full capital stack to investors.
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Intesa Sanpaolo has completed a €1.3bn synthetic securitization to fund the construction of wind farms, solar cells and biomass — the first synthetic securitization in Italy totally dedicated to green energy.
