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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Last week European securitization markets saw a heavy supply of BWICs (bids-wanted-in-competion), with over €487m of CLO bonds on offer. But few of the bid lists are finding clearing levels, with 64% did-not-trade in CLOs last week. -
Point of sale lender NewDay, owned by Cinven and CVC, has become the first post-crisis European securitization issuer to miss a call, announcing on Monday that it would be delaying the call of NewDay Partnership Funding 2015-1 from April this year to the following year, as markets deteriorated beyond a level where a refinancing trade would make sense.
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Since the invention of green bonds 13 years ago, market participants have circled round the problem of what is green. There are many answers, such as the Climate Bonds Initiative's standards, but none have any official authority. That is about to change. The EU's Green Bond Standard is likely to become law before the year is out, and it could alter the market in several ways.
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The outlook for Italy continues to worsen, as both the coronavirus pandemic and financial markets rout deepened on Thursday. But essential services are functioning, in society and markets, and Italians are helping each other through the crisis, including with funding difficulties. By Jon Hay and Lewis McLellan
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Figure issued a $149m private securitization backed by loans originated, serviced and sold on blockchain on Wednesday. The unexpected takeaway, sources say, is that at a time when remote working is quickly becoming the norm, investors are likely to reconsider the value of technologies like blockchain as operations move online or away from central locations.
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Following the pricing of a French RMBS deal midweek, the rest of the European securitization industry is holding its breath after a volatile week in capital markets.
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Small business ABS lenders should reconsider bringing deals to market and expect to see disruption of cashflows to outstanding deals, with Covid-19 now declared a worldwide pandemic.
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Non-Standard Finance (NSF) has announced a six-year £200m securitization facility with Ares Management Corporation providing credit funds.
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LendingClub’s acquisition of Radius Bank last month is still going through a long process of regulatory approvals, but — given the green light from regulators —sources say the move could shift the narrative around fintechs and prove its potential to hesitant investors.
