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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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Residential solar installer Sunrun is preparing to launch an asset-backed securitization in the next few weeks after a spurt of offerings from competitors. -
TC Dudgeon Ofto — the owner of the transmission lines from the North Sea Dudgeon Offshore Wind Farm — restored investors’ confidence in the sterling corporate bond market on Tuesday. It was notable, as it was a fundamentally green issuer selling bonds without green bond labels.
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The transaction, Alhambra SME Funding 2018-1, comprises sub-investment grade senior secured and unsecured loans to Spanish SMEs and mid-caps originated by Be-Spoke Capital (Ireland) Ltd.
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The European Parliament will push for stronger rules on sustainability for investment firms and banks, after its Economic and Monetary Affairs Committee voted on Monday evening to go beyond what the European Commission is recommending.
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UK and Dutch RMBS, auto ABS and CLOs raised more than €3.4bn last week, taking the year to date total of €82.6bn of European ABS past 2017’s full year tally, according to Morgan Stanley data. But predicting next year’s issuance levels will be a tricky task.
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Real estate investment trust Hannon Armstrong has announced SunStrong 2018-1, an ABS transaction backed by a pool of residential rooftop solar leases the company acquired from a solar developer.
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Obscure disclosure rules for European securitizations could bring asset-backed commercial paper conduits to a sudden stop on January 1, forcing the banks that sponsor them to step in with liquidity support of up to €130bn.
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P2P Global, a listed investment fund managed by Pollen Street Capital, which buys marketplace loans across Europe and the US, has sold 95% of its exposure to the most recent securitization of Funding Circle loans, which it sponsored in May.
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Tesco Personal Finance, the lending arm of the UK supermarket, is targeting US demand with a new dollar mandate from its Delamare credit card ABS shelf.
