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First exclusively Estonian securitization the European Investment Bank has supported
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Santander Consumer Bank has priced a fully pre-placed Portuguese auto ABS transaction from its Silk Finance programme, with the new deal becoming the first in the shelf to see the notes ‘A’ through E’ sold, in spite of the continuing pandemic crisis. -
New deals have priced in the public securitization market this week from Together Money and Qander Consumer Finance, with triple-A notes for the latter breaking through guidance as issuers take advantage of a stabilising market.
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Bankers Healthcare Group (BHG) is preparing an inaugural securitization backed by loans made to high-earning medical professionals. The deal is the first in a growing pipeline of securitizations from the healthcare industry, ranging from pharmaceutical drug royalties to venture capital ABS, as Covid-19 draws attention to securitization as a funding source for a critical part of the economy, writes Jennifer Kang.
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Some non-bank lenders are unlikely to survive the pandemic crisis, sources say, after the Bank of England told the industry it is not willing to provide emergency liquidity support in the wake of the Covid-19 outbreak. Non-bank institutions are having to grant the same payment relief to customers as high street banks but still have outgoing warehousing costs.
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Online lender SoFi this month filed for a bank charter with the Office of the Comptroller of the Currency (OCC) for the second time — with sources saying a more supportive OCC may increase the lender’s chances of being approved, after beginning the process three years ago.
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Momentum is growing for the economic recovery from the coronavirus pandemic to have a strong green thrust, as the UK’s mini-Budget and comments by European Central Bank president Christine Lagarde made clear this week. Capital market participants are enthusiastic about the prospect and expect it to further green the markets — but how far the drive goes will ultimately depend on politics, write Mike Turner, Jon Hay and Jasper Cox.
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New sustainable DCM team at Citi — Deutsche picks Stergiou for new position — SMBC Nikko makes ABS trading hire
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Private subprime auto issuer First Help Financial (FHF) is preparing a $143m securitization backed by retail automobile contracts with subprime borrowers.
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Affirm became the first fintech point of sale lender to tap the ABS market on Wednesday, in what sources said was a crucial first step towards defining an optimal, scaleable funding structure for the emergent sector.
