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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Issuance of higher quality European ABS is fuelling strong technicals, which are underpinning the market in 2017, TwentyFour Asset Management said this week. -
The US ABS market is putting the brakes on as August winds down, but while the primary market quiets, observers say investors are stepping into the secondary market to look for opportunities.
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The Consumer Financial Protection Bureau (CFPB) this month highlighted the rise in student loan debt for consumers over the age of 60, while the percentage of borrowers with at least $20,000 has doubled from 15 years ago to 40%.
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The European ABS primary market has quieted as summer goes into the home stretch, with little for investors to sink their teeth into, though secondary activity has remained upbeat in the meantime.
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An ABS transaction backed by leases made to small and medium sized enterprises (SMEs) originated by abcfinance GMBH closed at the end of last week, with the European Investment Fund participating in the offering.
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Investors looking to wade deeper into aircraft ABS have bemoaned insufficient deal flow, while the pipeline slows to a trickle as issuers begin to look beyond securitization for funding.
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Final bids are due by the end of the month for a landmark €2.8bn transaction in the resurgent Greek non-performing loans market, as banks from the country rush to meet European targets to clean up their balance sheets.
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PayPal broadened its small business lending effort this month with the acquisition of online small business lender Swift Capital, while a spokesperson for the company told GlobalCapital that it could pursue “third-party financing structures in the future”.
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Investors expect more core covered bond borrowers to follow Muenchener Hypothekenbank and price deals ahead of the next European Central Bank meeting on September 7.
