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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Geneva-based Trafigura increased the size of its fifth public ABS receivables deal and tightened pricing in response to strong investor interest, thanks to an extensive marketing effort. -
European banks are forecasting a 6.2% increase in total assets over the coming three years and expect to fund some of that growth with more secured debt sales, according to the results of a European Banking Authority (EBA) survey published this week.
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Tropical storm Florence — downgraded from hurricane status — has flooded North Carolina. It is unlikely to hit catastrophe bond holders very hard, although one issue from the US’s National Flood Insurance Program (NFIP) is under scrutiny.
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The mood in euro ABS has been steadily improving in recent weeks, with sentiment growing rosier still following strong pricing for primary market offerings last week and the announcement of a new French credit card ABS deal adding to new supply.
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With Hurricane Florence descending upon North and South Carolina in the US on Friday, markets will be waiting for the impact on insurance firms and catastrophe bonds.
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Traders, bankers, lawyers, brokers tell their stories of what happened when Lehman Brothers went down, how it ruined some businesses and created room for others, and how it has changed financial markets — for better and worse.
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Hefty demand and oversubscribed order books for Mercedes’ Silver Arrow UK 2018-1 auto ABS deal and Virgin Money’s Gosforth Funding 2018-1 UK Prime RMBS may be an indication of stronger sentiment in euro ABS markets following a tough summer.
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Those at Lehman Brothers on Monday, September 15, 2008 will remember the moment the lines between the London and New York offices went dead.
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Mercedes’ Silver Arrow UK 2018-1 auto ABS deal has managed to secure over £750m of orders so far, with books still open ahead of pricing expected on Thursday. Solid demand has allowed price guidance to tighten from initial talk.
