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Structured Finance Association CEO Michael Bright previews major industry event
PRA and FCA go much further than EU in loosening rules
Liberated issuers will still have to follow European regulations if they want to sell in EU
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Strong fundamentals and a rally in ABS spreads led bankers to increase the size of a credit card ABS transaction from American Express on Monday. -
Residential Property Assessed Clean Energy (PACE) platform Renovate America is teaming up with commercial PACE finance firm Greenworks Lending to expand in commercial PACE lending.
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Joseph Lau, managing director and head of non-traditional securitizations at RBC Capital Markets, has landed at New York-based Lord Capital after leaving the bank in January.
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An inaugural aircraft ABS deal from Elix Aviation Capital backed by leases on turboprop aircraft was priced on Thursday, reflecting the potential for deal diversification in the fast growing sector.
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Student loan servicer Navient’s tussle with the Consumer Financial Protection Bureau (CFPB) in January was mostly background noise for the company’s no-grow Federal Family Education Loan Program (FFELP) securitization, which was priced tightly on Wednesday.
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Amazon Lending, which provides inventory financing to a selectively chosen group of micro, small and medium sized businesses that sell on the Amazon marketplace, is shifting the risk on those loans off its balance sheet with a new secured revolving credit facility.
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The UK government delivered a potential boost to Europe’s stagnant securitization market on Monday with its announcement that it plans to raise £12bn through securitizing part of its book of student loans by the end of 2021. The first deal from the scheme, backed by around £4bn of loans, is expected this year.
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ABS spreads, fuelled by intense demand from bond buyers, are approaching their post-crisis tights and investors said that there is room to go tighter still.
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Jefferies is underwriting a rated marketplace loan ABS for Arcadia Funds that will see prime consumer loans from Lending Club bundled into a securitization for the first time, sources told GlobalCapital on Tuesday.
