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Latest news
Amid investment boom, S&P stoically maintains its position
Deal only included loans that were outside the scope of the FCA's redress scheme
Triple-B rating from KBRA despite 13% LTV
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Both the nature and timing of the European Union’s planned Taxonomy of Sustainable Economic Activities are in doubt. Conservative members of the European Parliament this week voted down an ambitious draft of the bill, and some nation states appear reluctant to push the Taxonomy bill through to the statute book before the European elections in May, writes Jon Hay. -
Volkswagen on Wednesday announced the first securitization eligible for the ‘simple, transparent and standardised’ (STS) treatment, bringing an auto lease transaction arranged by Lloyds two and a half months after the new Securitization Regulation went into effect, on January 1.
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Conservative and liberal members of the European Parliament have voted down an ambitious draft of the bill to set up the EU’s Taxonomy of Sustainable Economic Activities, in favour of a weaker text with fewer safeguards for the environment and society.
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The EU has got another piece of its Sustainable Finance Action Plan over its most important political hurdle. At 5.30am on Thursday, after an all night session that had started at 8pm, negotiators in Brussels reached a deal on the Sustainability Disclosure Regulation. The law goes further than originally planned: investors are guided to consider their impacts on the real world, as well as inward risks to their portfolios, and to conduct due diligence.
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The ‘simple, transparent and standardised’ framework for securitisations took another step forward this week when its first third-party verifier, True Sale International’s STS Verification International (SVI), was authorised by German regulator BaFin. Another verifier, Prime Collateralised Securities (PCS), is already working on deals as it awaits authorisation.
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Bank of America and Rabobank are marketing DLL UK Equipment Finance 2019-1, a sterling equipment ABS for De Lage Landen Leasing, a Rabobank subsidiary.
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Cembra Money Bank priced a Sfr250m public fixed rate domestic ABS deal backed by Swiss auto leases on Wednesday at 0.15%.
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Monday kicked off with a full ABS pipeline, with at least nine transactions across auto, student loan, equipment and handset securitizations worth $6bn slated to be priced this week.
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Residential solar installer Sunrun is aiming to refinance a portion of "seasoned assets" by midyear as advance rates on rooftop-mounted arrays march upward and the cost of capital for such assets continues to decline.
