Latest news
Latest news
January's ABS data center deals see tenant numbers drop but demand remains strong
Deals including some commercial mortgages expected to follow
Deal was priced 6bp tighter than most recent iteration of the asset class
More articles
More articles
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Fintechs and mortgage lenders are eyeing the incoming administration with trepidation, as president-elect Joe Biden is likely to switch out the leadership of key agencies. While there won’t be drastic changes coming out of Congress, the president has power to remove single agency heads without cause, following a recent decision by the Supreme Court. -
Capital markets cheered the victory of president elect Joe Biden on Saturday, hopeful his presidency will prove more predictable than the four years of the Trump administration. As the US grapples with a resurgence of Covid-19 infections, sources say they are optimistic that Biden will provide more concrete plans to guide the nation through the pandemic.
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Trinity returned to the securitization market with back to back deals for the first time this year. Sources say the railcar sector will likely benefit under a Joe Biden administration as they believe the Democratic candidate will soothe trade war tensions with China and boost global trade.
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Alpha Bank has received two binding bids for the sale of an NPL portfolio worth around €10.6bn, closing the securitization process via Greece's Hercules guarantee scheme and cleaning its balance sheet to make way for new lending.
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US securitization players say they were surprised and disappointed that a Democratic “blue wave” failed to materialize as the results of Tuesday's election rolled in. With Republicans looking likely to hold the Senate and Democrats holding the House, market participants are anxiously expecting a smaller and delayed Covid-19 stimulus package regardless of who wins the presidency.
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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.
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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.
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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.
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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.
