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Rating agency explains reasons for cap
Opinion: Amid investment boom, S&P stoically maintains its position
Deal only included loans that were outside the scope of the FCA's redress scheme
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Property Assessed Clean Energy (PACE) finance firm Ygrene Energy Fund priced a blended pool of residential and commercial PACE liens on Wednesday, while Renovate America filed documents this week for its final deal of the year. -
A debut Portuguese non-performing loan securitization attracted a raft of new investors and gave the issuer better execution compared with bilateral trades, which is likely to encourage a wave of new NPL deals across peripheral Europe, according to ABS sources.
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Lending Club is looking to price two more ABS deals this quarter, as the company plans to shrink its proportion of bank funding in the year ahead, executives said on a third quarter earnings call this week.
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Demand for sterling ABS is surging, with a deal from Premium Finance on Wednesday attracting heavy subscription levels across the capital stack.
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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.
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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.
