Latest news
Latest news
Third deconsolidation RMBS from a UK challenger bank since November
Parliament’s draft amendments are kinder to the market than Commission's
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The first securitization of marketplace loans in the European ABS market — Funding Circle's SBOLT 2016-1 — is performing above expectations, said Moody’s on Monday, announcing the upgrade of four tranches of the deal. -
The mood in FIG bond markets this week has been exceptionally positive, with the market expected to take the outcome of the Federal Market Open Committee’s meeting and Dutch elections in its stride after a string of well received deals bolstered confidence across the capital spectrum.
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Online consumer lender Marlette Funding is the latest in a wave of online lenders to tap the securitization market this quarter, as ABS spreads tighten towards post-crisis lows.
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Two new transactions emerged in the European ABS market on Tuesday, with Agos Ducato returning for a new deal from its programmatic Sunrise Italian consumer loan shelf, alongside a debut Swiss auto lease deal from MultiLease.
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Focus Brands, which operates chains such as Auntie Anne's Pretzels and Cinnabon, is preparing to tap the market for whole business ABS, which industry participants at SFIG Vegas earlier this month said could see a resurgence in deal volume this year from both seasoned and first-time issuers.
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Online small business lender and specialty debt manager Arcadia Funds each priced marketplace loan ABS transactions this week, following a wave of interest surrounding securitization as a funding tool for online lenders at the LendIt 2017 conference held this week in New York.
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Bloomberg is trying to drag European ABS trading into the digital age, signing up several banks to start providing quotes on its ALLQ system for core, prime European ABS asset classes. Some dealers, though, struggle to see the benefit.
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LendIt 2017, held this week in New York, drew twice the number of attendees as last year's event, with online lenders and financial technology pros discussing the potential for the market to expand to new industries and new consumers.
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Creation Consumer Finance, an indirectly owned subsidiary of BNP Paribas Personal Finance, sold a debut consumer loan ABS deal on Wednesday. The £570m ($694.44m) transaction was the first bank-originated UK consumer loan deal to be seen in several years.
