Latest news
Latest news
January's ABS data center deals see tenant numbers drop but demand remains strong
Deals including some commercial mortgages expected to follow
Deal was priced 6bp tighter than most recent iteration of the asset class
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Additional tier one capital (AT1) yields have been squeezed to all-time lows in 2017 but bank debt investors were still eager this week to fill their stockings with the product in time for Christmas.
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Online personal loan platform Upstart is back in the ABS market after hitting the pipeline with a debut transaction in June. -
The removal of the student loan interest deduction under the Republicans’ new tax plan may seem inconsequential compared with the average sum of debt per borrower, but it will fan the flames of a growing student debt crisis.
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PSA Finance UK, the captive finance arm of Peugeot Citroën in the UK, has just priced its first securitization of UK car loans at 42bp over one month Libor. The deal has been sized at £315m.
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Tesla priced an ABS offering backed by solar lease and power purchase agreements originated by its SolarCity subsidiary late last week, selling the bonds at the tight end of price guidance.
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Transport ABS deals have been well bid in 2017, sought by investors for their higher yields compared to more vanilla assets. But bespoke deal structures and attractive funding in other markets have put off interested participants, sources said this week.
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Peugeot Citroën’s car finance bank announced initial price thoughts on Monday for its first sterling securitization, joining a UK car finance ABS market that has been busy this year.
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WiZink, the Spanish credit card bank, is preparing to launch its first securitization that will be sold publicly.
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A panel of investors speaking at a conference this week said that securitization was driving the growth of the marketplace lending industry, and that the combination of investor demand for yield and borrower demand for credit is creating a “perfect storm of good things” for the asset class.
