Latest news
Latest news
Stellantis pushes Spanish auto ABS senior spread to 60bp
Issuers and investors drop clues about esoteric ABS trades
Deal priced with 3bp premium to ING's Green Lion 2026-1
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The UK ABS market is keeping a close eye on the domestic economy as the Bank of England held rates firm at 25bp on Thursday and warned of a sluggish outlook for country. Sam Kerr reports. -
The last minute decision on the part of European Union regulators to introduce a potentially devastating rule to EU securitzation regulation was greeted with disbelief by market pros last month. But sources say that there are still a number of ways the mistake can be fixed.
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Senior and subordinated bank debt spreads have been grinding relentlessly tighter again this week but, with a summer of scant supply ahead, investors can see no clear reason to shed their positions yet.
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Annualised net losses (ANL) on subprime auto loans hit 7.42% in the second quarter of 2017, with the potential to reach 10% by the end of the year, as the market share of issuers shifting towards deep subprime players increases, according to Fitch.
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The Bank of England is right to warn of increasingly lax consumer lending standards, but until it sets the UK on a path to interest rate normalization, borrowing will remain too attractive an option for consumers to ignore.
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The latest Dutch consumer deal from Qander Consumer Finance drew a crowd on Tuesday, with the €330m deal oversubscribed throughout the capital stack.
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Online consumer lender Prosper priced its second multi-seller securitization from its PMIT shelf this week, which pools riskier loans compared to its previous transaction.
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Moody's changed its outlook for collateral backing a range of UK ABS sectors to negative on Monday, citing weakening economic data and rising consumer debt as likely to impact securitization performance.
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European securitization issuance in the second quarter topped €71bn, an increase of 91% from the first quarter according to the Association for Financial Markets in Europe (AFME).
