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Trade backed by lease, power purchase agreements as sector navigates regulatory changes
Investor wanted BBB- note spread wider, market yanked it tighter
Strong demand for Multilease’s deal raises hope spreads can return to pre-Iran war tights
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The peer to peer lending model may be nearing the end of its lifecycle, signalled by LendingClub’s announcement that it would shutter its retail investor platform. With heightened regulatory risk and disappointing returns compared with securitization or whole loan sales, sources say the demise of peer to peer lending is becoming inevitable. -
Investors wanting to make a social impact with their money are often caught between two pitfalls. Targeted social investments can seem too risky and off the beaten track — but safer alternatives have little additionality.
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Mercedes-Benz has mandated banks led by sole arranger Société Générale for a new Silver Arrow auto ABS, the first in the shelf collateralised by French loans.
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Intesa Sanpaolo has issued a €2bn risk transfer securitization to help fund Italian SMEs, boosted by an investment from the EIB and the EIF.
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The newly established European Guarantee Fund has greenlit a further €1bn lending for risk sharing products, allowing the EIB to continue investing in significant risk transfer (SRT) transactions to support European SMEs.
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Petros PACE Finance, a commercial property-assessed clean energy lender, added Jerry Ellis to the business development team in its New York office. The move comes ahead of New York's expected approval of the C-PACE bill, enabling commercial property owners to tap PACE financing for new construction projects.
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Santander Consumer Bank has increased its debut public German consumer ABS from €1.4bn to €1.8bn after the deal saw huge demand, making it one of the largest public securitizations in Europe this year.
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Restaurant chain Wingstop has priced its latest ABS offering to yield 2.85%, making it the first ever whole business securitization to be printed with a two handle, with market watchers crediting tight ABS supply and Wingstop’s strong credit story.
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Nearwater Liquid Markets has set up a third ABCP conduit which will buy only US Treasuries, repoing them with Barclays, in a move that would help the UK-based bank manage its access to high quality collateral. The new vehicle joins existing structures Nearwater has set up with BNP Paribas and with JP Morgan.
