Latest news
Latest news
Euro denominated triple-As only on offer, rest of the capital stack preplaced
Trade backed by lease, power purchase agreements as sector navigates regulatory changes
Investor wanted BBB- note spread wider, market yanked it tighter
More articles
More articles
-
Property Assessed Clean Energy (PACE) provider Ygrene is preparing a 144A securitization, the first deal this year to include a mix of commercial and residential PACE liens. Though originations have slowed, sources say Covid-19 has boosted demand for residential energy efficiency as people spend more time at home. -
Commercial Property Assessed Clean Energy (PACE) provider and ABS issuer Petros PACE has hired Connor Murch as vice president of business development, a newly created role that will help the firm take advantage of the growth of the commercial PACE market seen in recent months.
-
A dozen deals totaling $10.2bn were issued last week, the highest weekly volume since February. Investors easily absorbed the new supply, and spreads tightened particularly in non-benchmark sectors in a sign that the market has mostly recovered over the summer, sources said.
-
The UK government has launched a review to find ways to boost the country’s fintech sector, a week after the Bank of England told alternative and non-bank lenders they would not receive emergency funding to support them during the pandemic.
-
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.
-
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.
-
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.
-
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.
