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Meanwhile, BNP Paribas hires in structured finance
Two lenders entering administration should signal to others: simplify the industry
News could lead bank funding to dry up, after strong run of demand in private market
More articles
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Deutsche Bank has defended its execution of the debut European marketplace lending deal, as turmoil engulfed the online lending space in the wake of the resignation of Lending Club's chief executive. -
The European investor base jumped on consumer ABS paper this week, with Santander’s German auto deal driving spreads to a new low and drawing some long absent investors back to the asset class.
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Close Brothers, the UK merchant banking group, has mandated leads for a debut ABS deal that will be backed by a £400m pool of auto loans.
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Issuers are lining up two new deals in the European primary ABS market this week, with investors set to get a rare exposure to credit card ABS and CMBS paper.
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RCI Banque’s latest German auto loan deal showed that German auto paper is bunching in the mid-30bp area, just above the zero coupon floor.
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Deutsche Bank bundled Europe’s debut marketplace loan securitization over the finish line last Friday in a milestone for the industry. But the new asset class is a divisive topic in the European ABS market, writes David Bell.
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The first ever public marketplace loan securitization in Europe has finally priced. The deal’s difficult execution isn’t a great advert for marketplace lending, but deals from other platforms should have a different experience — they are, after all, different asset classes.
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A $1.2bn subprime deal from Santander Consumer USA’s SDART shelf and an upsized $1.6bn green bond offering from Toyota Motor Credit Corp were priced this week as spreads tightened on primary ABS issuance.
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Subprime auto lender Flagship Credit Acceptance (FCA) priced its second deal of the year this week, as spreads on subordinated subprime auto ABS inched ever wider.
