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First exclusively Estonian securitization the European Investment Bank has supported
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Royal Bank of Canada agreed to a further extension for a performance trigger waiver on its securitization facility with Amigo Holdings and slimmed the facility down from £300m to £250m. Separately, founder James Benamor vowed to return to the company. -
Investors and research houses are forecasting for Sonia to follow Gilts into negative yields next year, which could force issuers to cover themselves against a hedging mismatch in auto ABS deals.
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Textainer enjoyed high demand and tighter than expected spreads when it priced the first container securitization of the year. Container ABS stands out among other transportation asset classes, according to investors, due to its strong utilization rate and the security that comes from the multi-year leasing agreements between lessors and shipping lines.
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Fitch Ratings downgraded the rating outlook on Federal Family Education Loan Program (FFELP) student loan ABS sector from stable to negative, reflecting the ongoing deterioration of the US public finance and the absence of a credible fiscal consolidation plan, the rating agency said.
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UK student loan securitizations are set to repay faster if the government decides to reform inflation indices in 2030, benefiting junior investors. Other noteholders could see returns drop if the government opts for an earlier switch date, however.
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Figure Technologies has hired on Robert Hershy to be head of capital markets for its blockchain platform, Provenance. This marks Hershy’s return to the securitization market after he retired from Morgan Stanley in January 2019.
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Point-of-sale (PoS) and small business lender LendingPoint has experienced strong growth in recent years thanks to the growing segment of young consumers that prefer term loans over a credit card. Tom Burnside, co-founder and CEO of the company, spoke with GlobalCapital about why the industry is gaining traction and its upcoming plans for securitization.
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The UK’s Financial Conduct Authority (FCA) has laid out expectations for how repeat non-bank lenders should behave once they resume lending, pushing firms to make operational changes to improve customer welfare.
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Kroll’s recent downgrades of three classes of notes issued by online small business lender Kabbage, just one week after the rating agency took negative rating action on six notes from Funding Circle, show the distress rising up from businesses to the marketplace lending sector as a result of the coronavirus pandemic.
