Latest news
Latest news
ABS market not the cheapest cost of financing for issuer of first ever trade in the asset class
Revival of high LTV mortgage lending is creating an opportunity for more SRT and deconsolidation transactions
Trade follows the end of a joint venture to originate loans
More articles
More articles
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The EU Commission is rushing to untangle legislation that would have stopped EU investors from buying Australian securitizations or covered bonds, after the country ended up on the EU’s list of non-cooperative tax jurisdictions. -
Southern California Edison has priced its first securitization in more than 20 years, the proceeds of which it will use to finance upgrades and other costs associated with its wildfire prevention program.
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Innovation and yield are returning to the franchise ABS sector as US market conditions improve, much to investors’ delight. Issuers beyond the typical restaurant franchises that dominate supply are eyeing entry into the securitization market, starting with home improvement companies.
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More securitizations of UK government-backed SME loans are being executed in private, with Funding Circle, a pioneer in the market, closing a deal with Sixth Street and Barclays in late January.
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Italy’s NPL collections have begun edging back to normality, with December’s collections 71% higher than those in November. The latest collection figures are the highest since the pandemic began.
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Whole business ABS deals are trading at a premium or on par in the secondary market, following improved US consumer activity and market conditions. Sources say the strong secondary levels signal the asset class is set to make a strong comeback this year.
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FortiFi Financial is returning to the market with the first property assessed clean energy (PACE) deal of the year. It is also the first time FortiFi, formerly known as Energy Efficient Equity (E3) is issuing under its new name.
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GlobalCapital spoke to Andre Hakkak, chief executive of White Oak Global Advisors, a fund specialising in SME, asset-based and direct loan origination, about the Covid crisis in the SME world, the coming end of government support, the end of Ebitda and the challenges of fundraising in a pandemic.
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Trinity Industries published a framework that will guide its efforts to produce green ABS, deals that will be directly linked to reducing greenhouse gases. The framework is the answer to investors’ calls for green label deals, which are rare and in high demand in the securitization market.
