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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The second Swiss auto ABS of 2017 achieved the neatest pricing a syndicate banker could hope for — printing at 0%, 1% and 2% coupons for the class ‘A’, ‘B’ and ‘C’, respectively, all placed at par and through the tight end of initial price thoughts. -
Ally Bank has created an Irish special purpose entity (SPE) for a new prime auto from a new loan shelf titled Juniper Receivables DAC, which is backed by loans with longer terms and higher risk collateral.
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European ABS issuers have rushed the primary pipeline this week, bringing as many as seven deals to market as the push to year end begins.
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The Bank of Italy published estimates for last year’s bad loan recovery rates on Tuesday, showing that the speed of disposal for non-performing loans is increasing gradually in Italy.
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The Cleveland Federal Reserve issued a report last week sounding the alarm on the effect of marketplace loans on consumer balance sheets, and while market players have acknowledged some of the criticisms as valid, the industry has hit back against comparisons to the pre-crisis mortgage market.
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Hot on the heels of PSA’s UK auto lease ABS last week, Close Brothers announced Orbita Funding 2017-1 on Monday as the steady stream of UK auto ABS shows no sign of diminishing.
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Axiom Alternative Investments, a London-listed investment advisory firm, is seeking to raise up to £500m of new equity capital, to invest in Europe’s banking revival by buying debt securities.
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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.
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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.
