Latest news
Latest news
Third deconsolidation RMBS from a UK challenger bank since November
Parliament’s draft amendments are kinder to the market than Commission's
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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. -
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.
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Cadence, a blockchain based securitization platform for private credit, has added Rohit Bharill to be the firm’s first head of risk, a company executive told GlobalCapital. Bharill joins from Morningstar Credit Ratings, where he headed the ABS and CLO ratings team.
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Amigo Holdings, a UK guarantor loan provider, has won a waiver for its £300m securitization facility with the Royal Bank of Canada (RBC), giving it until August 14 to come to an agreement on terms while the company fends off an Financial Conduct Authority probe and a public spat between the board and the company's founder.
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Electric car maker Tesla is preparing its fourth retail auto lease securitization, issuing into a strong ABS market supported by high investor demand and solid auto market fundamentals in spite of the virus, sources said.
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Palmer gets interim ECM head gig at BofA — Clarke to join JP Morgan for FIG — Paz-Galindo promoted at UBS
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WiZink Bank, which acquired Barclaycard's Portuguese operation, has retained a €505m credit card ABS deal.
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Small business lender OnDeck has agreed to a $90m cash and stock deal with Enova after months of struggling through the pandemic crisis. The acquisition is the first in an expected wave of consolidation, as Covid-19 tests the resilience of online lenders, sources say.
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Colin Parkhill has left Lloyds Bank to join Deutsche Bank as its head of European ABS and CLO syndicate.
