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Parliament’s draft amendments are kinder to the market than Commission's
◆ Data centres: crunch time for Europe's capital markets ◆ How AI is changing capital markets work... ◆ ... and hiring
First exclusively Estonian securitization the European Investment Bank has supported
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The oil industry’s ability to raise money in capital markets is coming under severe strain, as the coronavirus pandemic is forcing all analysts to tear up their assumptions and bringing unprecedented volatility in prices.
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The ABS primary market has been restocked with seven new offerings, including four prime auto loan deals from lenders including Nissan, as demand is underpinned by confidence in the eventual rollout of government-backed programmes, as well as additional structural protection offered by issuers.
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Deutsche Bank has set up an inter-disciplinary sustainable finance team in its capital markets group, aiming to be “viewed as [a] market leader on this important subject”, as it senses that clients, including big oil and gas companies, are having increasingly to consider environmental and social issues to access the capital markets.
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The pandemic bond issued by the World Bank, which supports a pandemic financing facility for poorer countries, has now met the conditions to pay out, GlobalCapital understands.
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GM Financial priced a $790m prime auto securitization on Thursday, the first issuer to break the silence in the market since Covid-19 halted primary flows in mid March.
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UK auto ABS deals are being privately placed while the market waits for liquidity provided by central banks or other markets to return before attempting to market deals publicly.
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Nuveen emerged as the primary investor for Diversified Gas & Oil’s most recent securitization, drawn to the company’s commitment to refrain from drilling or fracking and fitting the deal into its environmental, social and governance (ESG) strategy.
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AMAG Leasing, a regular issuer in the small Swiss franc ABS market, pulled its planned Swiss Car ABS 2020-1 deal on Tuesday after investors declined to support the deal at a level the company found attractive. It had recently renewed its bank facility, and is also a regular issuer in the unsecured Swiss franc bond market.
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ABS eligible for the simple, transparent and standardised’ (STS) criteria could have lost its preferential capital benefits after payment freezes on consumer lending went into place across Europe, but the EBA has acted to clear up the uncertainty and confirm the capital benefits.