Latest news
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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Obscure disclosure rules for European securitizations could bring asset-backed commercial paper conduits to a sudden stop on January 1, forcing the banks that sponsor them to step in with liquidity support of up to €130bn.
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P2P Global, a listed investment fund managed by Pollen Street Capital, which buys marketplace loans across Europe and the US, has sold 95% of its exposure to the most recent securitization of Funding Circle loans, which it sponsored in May. -
Tesco Personal Finance, the lending arm of the UK supermarket, is targeting US demand with a new dollar mandate from its Delamare credit card ABS shelf.
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A deal from solar finance company Sunnova that was priced at the end of last week and a first time solar securitization from Hannon Armstrong, announced on Monday, are rekindling the market for solar ABS in the fourth quarter.
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The European Bank for Reconstruction and Development has made its first Greek non-performing loan (NPL) investment, part of a €300m programme to help banks in central, eastern and south-eastern Europe to clean up their balance sheets.
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Asset-backed bonds have shown resistance to broader volatility in credit markets over the past week, but analysts at Bank of America Merrill Lynch said weakness in corporate bonds could easily spill over into securitization markets.
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Lloyd’s of London has identified several financial instruments that could boost investment in resilience against disaster. The solutions incorporate features of loans, bonds, catastrophe bonds and securitization.
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Weaker markets this week have not deterred European ABS issuers from moving ahead with deals already marketed last week, with initial price thoughts on three trades published on Wednesday, following a slow start on Monday and Tuesday.
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Residential rooftop solar developer Sunnova is in the market this week with its second securitization, a $262.7m offering backed by a pool of leases and power purchase agreements (PPAs).
