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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Upgrade, an unsecured consumer lender and ABS issuer, is branching out with a hybrid product that sits between an instalment loan and a traditional credit card. An Upgrade ABS would not be surprising, said capital markets investors. -
Caixa Economica Montepio Geral, the bank holding company, has mandated JP Morgan to arrange its third public NPL securitization, with the Portuguese lender closing in on getting its non-performing exposures (NPE) below the 10% mark.
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Trinity Industries has priced its second ABS transaction of the year, adding more than 5,000 railcars to its 2019 ABS master trust. The extra collateral highlights the company’s effort to bolster and diversify its lease fleet, a key goal highlighted in its latest earnings statements.
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The European Securities and Markets Authority (ESMA) is unlikely to provide a securitization regulation template for trade receivables, legal experts say, leaving the market to awkwardly push the asset class into other formats.
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A burst of equipment ABS issuance has hit the primary pipeline, including two first time issues from Pawnee Leasing Corporation and BMO Harris Bank.
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Several European banks sponsoring ABCP conduits have been investigating the possibility of converting these vehicles to the STS regime, but bankers say the risks outweigh the reward.
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As the Brexit deadline looms, issuers are rushing to get deals done before the end of the month. Lloyds has priced a prime RMBS, while Chenavari approaches the finish line with an Italian consumer deal.
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Issuance of Spanish ABS is picking up this week, with a number of deals emerging in the pipeline as euro issuance catches up with sterling.
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Carlyle Aviation Partners is readying a $540.36m aircraft securitization backed mostly by mid to end-of-life aircraft. The record-high top lessee and country concentrations, as well as the weaker lessee profiles, are risks to the deal investors and rating agencies say.
