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
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NatWest Markets has published a free online calculator market participants can use to work out compounded daily Sonia — the rate that looks set to replace sterling Libor from January 2022. -
The UK government launched its Green Finance Strategy this week, including a broad range of measures to stimulate awareness of climate change and other environmental problems in financial markets, and ease the flow of capital to green projects. But observers criticised the government for not setting out a plan on how to finance the transition to a zero emissions economy.
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Mercedes-Benz Bank launched its Silver Arrow Compartment 10 auto deal on Wednesday via arranger HSBC, with the senior notes 2.3x covered.
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Despite the agony of Brexit, the UK has been making impressive strides in turning away from climate change. The government's new Green Finance Strategy is the latest. It goes in the right direction, but unfortunately is less a leap, more a shuffle.
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Lloyds and BNP Paribas have announced new ABS issues for their internal clients, preparing issues backed by UK credit cards and Italian auto loans. BNPP's deal is a debut for Findomestic, the Italian subsidiary of BNP Paribas Personal Finance, and will be a full capital stack issue.
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The UK’s Green Finance Institute was launched on Tuesday, with the dual aims of finding solutions to sustainable financing problems and making London the leading global centre for green finance.
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The European securitization pipeline is bulging with 14 deals in the market this week, adding to an already heightened primary market supply on the back of the Global ABS event in early June.
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The Bank of England expects Libor-linked collateral to include fallback language in the event that Libor is no longer a viable benchmark, it said on Thursday, suggesting that it will no longer accept any deals without such language as collateral.
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The European pipeline is awash with RMBS deals, most of them concentrated in the UK as issuers hurry to beat a new round of Brexit uncertainty. Out of the five RMBS deals making their way through the market however, only one is set to qualify for the ‘simple, transparent and standardised’ (STS) regulatory regime, as levels of STS issuance from the banking sector appears to have slowed.
