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Latest news
Third deconsolidation RMBS from a UK challenger bank since November
Parliament’s draft amendments are kinder to the market than Commission's
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Significant risk transfer (SRT) securitization volumes this year are set to beat the record issuance seen in 2018, according to sources active in the sector. -
Société Générale has engaged in a $3.4bn synthetic securitization and pledged to reinvest some of the freed-up capital to increase its ‘positive impact finance’ lending. The investor, New York hedge fund Mariner Investment Group, has given it a financial incentive to go even further.
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Three aircraft lease securitizations have recently entered the pipeline, pushing projected 2019 issuance well above last year’s. Increased investor sophistication, strong fundamentals and a lack of alternatives that provide good returns are driving the changes, said market participants.
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There are justifiable fears around the humanitarian aid sector using the capital markets but if executed well it will allow charities and development agencies to bring in much more funding.
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Upgrade, an unsecured consumer lender and ABS issuer, is branching out with a hybrid product that sits between an instalment loan and a traditional credit card. An Upgrade ABS would not be surprising, said capital markets investors.
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Caixa Economica Montepio Geral, the bank holding company, has mandated JP Morgan to arrange its third public NPL securitization, with the Portuguese lender closing in on getting its non-performing exposures (NPE) below the 10% mark.
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Trinity Industries has priced its second ABS transaction of the year, adding more than 5,000 railcars to its 2019 ABS master trust. The extra collateral highlights the company’s effort to bolster and diversify its lease fleet, a key goal highlighted in its latest earnings statements.
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The European Securities and Markets Authority (ESMA) is unlikely to provide a securitization regulation template for trade receivables, legal experts say, leaving the market to awkwardly push the asset class into other formats.
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A burst of equipment ABS issuance has hit the primary pipeline, including two first time issues from Pawnee Leasing Corporation and BMO Harris Bank.
