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 US government extended the deadline for submitting applications for the Paycheck Protection Program by a month on Monday. However, only 19% of the government guaranteed small business loans are left, which may not be enough to support small businesses through to the end of the pandemic. -
SMBC Nikko Capital Markets has hired Manish Peshawaria as head of ABS trading, with a mandate to build out the secondary business, as part of its expansion into the European securitization market.
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Qander Consumer Finance, owned by hedge fund Chenavari, has announced a new transaction from its Aurorus consumer ABS shelf, with arrangers ABN Amro and Deutsche Bank helping to place the deal.
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Environmental, social and governance investors have been patting themselves on the back this year because their funds have tended to outperform during the coronavirus crisis. But a San Francisco hedge fund believes they are doing a poor job of shielding investors from the general risk of the stockmarket and more quantitative methods would improve the outcome.
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Aegon Asset Management named Russell Morrison as the new global chief investment officer for its $188bn fixed income investment platform as part of its effort to form a global, unified management board.
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Banca Generali has used a non-profit securitization structure to channel more funds to SMEs, offering a model which be rolled out across Italy and further afield. Funds from Italian regions have anchored the riskiest 10% of the new deal, with a central government guarantee wrapping the senior 90%, which can be sold to investors.
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BPER Banca, Banco di Sardegna and Cassa di Risparmio di Bra are shifting a €343.4m non-performing loan portfolio, backed by a mix of soured secured and unsecured loans made mostly to corporate borrowers.
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Residential solar finance company Mosaic’s foray into the recently reopened asset-backed securitization market was well received by investors, reaping a multiple-times oversubscribed order book, in part thanks to data that shows the pandemic having a limited impact on solar loans.
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Ares Management Corporation has agreed to extend a covenant waiver on its securitization financing for Non-Standard Finance (NSF) after initially giving the lender until June 29 to find alternative funding.
