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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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Harman Dhami has joined Rabobank as head of DCM syndicate, succeeding Paul Vanner, who, after a sabbatical, will return to Rabo to further develop the bank's MTN platform.
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The UK’s second securitization of income-contingent student loans is poised to be priced by Tuesday, with combined demand of more than £2.5bn for the rated notes, and all tranches subject by Monday’s close.
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The European Supervisory Authorities have tried their best to protect securitization markets from potentially huge damage from January 1 when the new Securitization Regulation comes into effect, encouraging national regulators to apply their powers in a “proportionate and risk-based manner” when new rules come into force next year. -
With December on the horizon, bankers are looking to get deals over the line before investors close their books for the year. A few remaining deals in the pipeline are out with price talk, looking to print either this week or next week at the latest.
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HSBC has appointed a new head of sustainable bonds for EMEA, in its debt capital markets team, after Victoria Clarke left to join Barclays in August.
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European ABS collateral quality is expected to broadly remain stable in 2019, said Moody’s. But the ratings agency singled out the UK as an exception, saying it expects every underlying UK asset to exhibit higher credit risk next year.
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TwentyFour Income Fund Limited, a closed-end fund with a market capitalisation of £475m ($606.94m), is intending to grow by raising additional equity capital in response to investor demand and favourable market conditions. The fund, which invests in euro ABS, intends to issue new shares at a 2% premium to the unaudited net asset value per share.
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The frequency of devastating wildfires has rocketed in California over the past two years. Camp Fire, still burning through California, looks set to wipe out a catastrophe bond, leading to sharp questions about how to model and price an emergent risk to companies, buildings and people when this is bundled out to the capital markets.
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The next few months in the run-up to Brexit will bring upheaval for debt capital markets and syndicate teams at London’s investment banks, as they work out which roles will have to be done from the European Union and which staff to move. But the pressure will not cease on March 29, as national regulators have considerable scope to compel banks to relocate jobs. Jon Hay reports.
