European Securitization
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Second UK consumer ABS debut this year after Citi's Montgomery Square -
Asset manager says it is the first FCA regulated manager to launch a Sharia compliant ABF fund
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Manager tightens triple-A spread by nearly 30bp relative to the original deal
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Deal is one of 11 forming the ABS pipeline
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The deal is backed by PayPal loans with three, six, 12 and 24-month maturities
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Ford and Auto1 also priced German auto ABS deals
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Issuer plans to visit the market twice a year
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Triple-A rated notes' pricing widens by 36bp from CLO's first reset in 2019
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Flagship large corporate programme Resonance returns
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Manager increases deal’s size and tightens triple-A spreads by 2bp relative to the original deal
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Heavy sterling issuance has led to some investor fatigue for UK ABS
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Lloyds also added its UK prime RMBS to the pipeline
