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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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A trio of equipment ABS transactions hit the primary market as January ended, with CNH Industrial Capital pricing a deal on Tuesday and Volvo and GreatAmerica Financial Services readying their own offerings. -
Marketplace lender Prosper sold its first unsecured consumer loan ABS deal on Thursday, the sixth offering from its long running PMIT shelf and the smallest from the issuer to date.
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M&G Investments has hired Vincent Charles-Gervais as a portfolio manager within its ABS team.
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The European Central Bank has slapped the institutions under its supervision with deadlines for dealing with their stocks of non-performing loans, giving the weakest lenders up to 2027 to raise their coverage levels to 100%. The revelation hit Italian banks hard in the market this week, though some commentators said that the new recommendations should hardly have come as a shock to investors.
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Aviation ABS performance will decline in 2019, hit by by rising credit concerns, late cycle behaviour and stiff competition between a handful of new, smaller lenders.
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Marketplace lender SoFi is readying its first student loan securitization of the year.
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Consumer ABS issuance is expected to accelerate this week after a slow start in January, with a number of deals lining up on Monday and investors waiting eagerly to put money to work in the new year.
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Société Générale has entered into a $40m cross currency total return swap with Fidelity Bank, the Ghanaian lender, in a trade that participants hope will unlock Ghanian cedi-denominated securities as collateral for further dollar funding.
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Capital markets veteran Sandeep Agarwal speaks to GlobalCapital about his decision to leave the sector after a period of more than 20 years, reflecting on what he describes as the "best learning experience" he could have asked for following the financial crisis. As he prepares for a new challenge outside of banking, Agarwal warns that the industry is not "out of the woods yet".
