Latest news
Latest news
January's ABS data center deals see tenant numbers drop but demand remains strong
Deals including some commercial mortgages expected to follow
Deal was priced 6bp tighter than most recent iteration of the asset class
More articles
More articles
-
The market is split on its outlook for subprime auto ABS, but while conservative investors are staying away there is growing optimism among others who believe credit enhancements and prospects for a strong economic recovery make the asset class an attractive buy in the time of coronavirus. -
Hertz’s flirtation with bankruptcy has sparked a debate in the asset-backed securities market over the fate of the company’s rental car ABS trusts. But if Hertz succumbs to the economic ravages of the coronavirus pandemic, various safeguards in its ABS documentation should result in minimal damage to bondholders, reiterating a key strength of securitization in times of crisis.
-
Kroll Bond Rating Agency has upgraded three classes of notes in three CPS subprime auto ABS deals, highlighting increased level of credit enhancements. Despite a lack of obvious red flags in the sector, even as the pandemic persists, sources warn that highly levered subprime auto sponsors still face a rocky road ahead as used car values plummet.
-
BMW Bank is set to reopen the European securitization market after the covid-19 lockdowns with its latest German auto loans deal.
-
Bernardo Martinez, managing director of Funding Circle US, is moving back to PayPal to serve as the vice president of global business financing solutions.
-
The pandemic has led to a bifurcation among some esoteric ABS subsectors, with more resilient assets like cell tower ABS seeing continued deal flow while others continue to be shut out of the market.
-
The European Banking Authority (EBA) has published its proposals for developing a 'simple, transparent and standardised' (STS) framework for synthetic securitization, endorsing better capital treatment and permitting the use of some excess spread for credit enhancement — a boost for the market if the package is approved by the European Commission.
-
Europe’s SMEs are in trouble. The coronavirus pandemic has zeroed revenues and threatens their very existence. They last faced a big threat in the 2008 crisis when bank lending dried up and a recession took hold. Back then, securitization took a lot of the blame as the cause, but this time it offers a route to rescue.
-
LendingClub announced that it is anticipating lending volumes to decline by 90% in the second quarter, as the online lender tightens its underwriting criteria in response to a sudden drop in investor interest and mounting unemployment numbers, the company said in an earnings call.
