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
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Financial institutions bond investors were assessing this week whether or not they should invest in Banca Monte dei Paschi di Siena’s first deal since its recapitalisation by the state last summer. -
GM Financial and Consumer Portfolio Services hit the ABS primary market with the first US auto loan transactions of the year on Tuesday, with heavy demand for paper helping both issuers tighten pricing from guidance.
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Neon Underwriting has launched the first insurance linked security (ILS) deal in the UK, after a new law designed to incentivise the creation of vehicles was passed last month.
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The first two European securitizations of 2018 appeared on Thursday — both sterling issues — with Vauxhall Finance, the new name for GMAC UK, announcing a £428m car loan ABS and Kensington Mortgage Co bringing the latest issue from its Finsbury Square programme.
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The US arm of small business lender Funding Circle has set up a partnership with Kansas based InTrust Bank, as the online platform expands its sources of funding and plans to launch a US bond programme.
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Regulators responsible for drawing up the technical standards for the 'simple, transparent, standardised' (STS) framework for European securitization have published five draft consultation papers, seeking industry comment through March.
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Last year was a strange one for European ABS, with negative yielding euro paper and the securitization of higher risk credit titillating the market, but with extraordinary monetary policy set to continue in the eurozone, and economic fundamentals improving across the continent, these trends will likely continue in 2018.
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Covéa Mutual Insurance Group has issued its debut catastrophe bond, a four year €90m deal to protect its French subsidiaries against losses from European windstorms.
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Fitch Ratings said in a webinar this week that given the shift to “smaller, weaker lessees” from emerging market countries in aircraft ABS portfolios, the rating agency will be applying more conservative stresses to aircraft securitizations “where appropriate”.
