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 World Bank’s pioneering pandemic bond has failed to recognise what the World Health Organisation has said is the second largest Ebola epidemic ever, which took place in the Democratic Republic of Congo. This is a gross failure, but the jury is still out on using such instruments to fund disaster response in the developing world. -
UniCredit is structuring a €6bn Italian non-performing loan (NPL) securitization called Prisma, which is set to qualify for Italy’s state-sponsored guarantee scheme and will send the bank below its €10bn NPL target.
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Risks around the Libor transition and a persistent stream of debt cancellation proposals continue to put pressure on student loan ABS spreads. Last week, secondary spreads widened again for both Family Education Loan Program (FFELP) loans and private student loan ABS.
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Libor may be extended beyond the cut-off date of 2021, sources told GlobalCapital this week, as the market braces for litigation over more than $1tr of Libor-linked mortgages. Tom Brown reports.
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More small and mid-ticket equipment companies are tapping the securitization market in recent weeks, as low rates and growth prospects drive them to the capital markets.
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Significant risk transfer (SRT) securitization volumes this year are set to beat the record issuance seen in 2018, according to sources active in the sector.
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Société Générale has engaged in a $3.4bn synthetic securitization and pledged to reinvest some of the freed-up capital to increase its ‘positive impact finance’ lending. The investor, New York hedge fund Mariner Investment Group, has given it a financial incentive to go even further.
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Three aircraft lease securitizations have recently entered the pipeline, pushing projected 2019 issuance well above last year’s. Increased investor sophistication, strong fundamentals and a lack of alternatives that provide good returns are driving the changes, said market participants.
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There are justifiable fears around the humanitarian aid sector using the capital markets but if executed well it will allow charities and development agencies to bring in much more funding.
