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
-
UniCredit sold two non-performing loan (NPL) portfolios worth a combined £1.54bn over Tuesday and Wednesday this week, both through a securitization vehicle which sold notes to Barclays and Guber Banca. -
The Office of the Comptroller of the Currency (OCC) proposed a clarification that would settle the dispute around the true lender rule, which sources say is highly likely to pass and would be a boon to the marketplace lending ABS sector.
-
Hertz is close to securing a deal with ABS creditors, according to bankruptcy court documents filed this week, with the bankrupt rental car company agreeing to a discounted rent payment, while liquidating a part of its fleet. Sources say the agreement will provide more protection for senior ABS bondholders and provide an element of certainty through to the end of this year.
-
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.
