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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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. -
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.
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Transport ABS deals have been well bid in 2017, sought by investors for their higher yields compared to more vanilla assets. But bespoke deal structures and attractive funding in other markets have put off interested participants, sources said this week.
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Peugeot Citroën’s car finance bank announced initial price thoughts on Monday for its first sterling securitization, joining a UK car finance ABS market that has been busy this year.
