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 Bank of England expects Libor-linked collateral to include fallback language in the event that Libor is no longer a viable benchmark, it said on Thursday, suggesting that it will no longer accept any deals without such language as collateral. -
The European pipeline is awash with RMBS deals, most of them concentrated in the UK as issuers hurry to beat a new round of Brexit uncertainty. Out of the five RMBS deals making their way through the market however, only one is set to qualify for the ‘simple, transparent and standardised’ (STS) regulatory regime, as levels of STS issuance from the banking sector appears to have slowed.
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Eliezer Ben Zimra and Guillaume Rigeade will join Carmignac’s fixed income team next month to manage a multi-asset fund.
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The European pipeline has begun to bulge with a volley of new deals entering the market in the two weeks following the IMN/Afme Global ABS conference in Barcelona, with UK and Dutch RMBS, German ABS, and UK SMEs all on offer.
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Mercedes-Benz Bank is bringing a cash risk transfer deal to market via HSBC dubbed Silver Arrow 10, a German auto securitization set to comply with the ‘simple, transparent and standardised’ (STS) regulatory framework.
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The calculation agent for a catastrophe bond issued by Peru and the World Bank has determined that the South American country will receive $60m from the notes after an earthquake struck last month, according to a source close to the deal.
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A deal priced by residential solar finance company Sunnova on Wednesday and another waiting in the wings from Dividend Finance injected a shot of life into the solar securitization sector this week, pushing year to date volume in the asset class over $1bn.
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CaixaBank is planning to issue a self-arranged €1.83bn securitization of small and medium sized enterprise ABS notes, made up of lease receivables.
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Six months into its inception, the ‘simple, transparent and standardised’ (STS) securitization framework seems to be doing its job. It has successfully established a market set to inherit the majority of ABS issuance, with issuers noting a raft of new investors operating in the sector. But have those buyers made a wrong assumption about how the ECB views STS deals?
