European Securitization
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Captive turns to sterling just a month after near-€1bn German deal -
Delamare was the only active prime UK consumer credit card ABS shelf in 2023
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S&P downgrades six tranches of legacy RMBS after discovering error, but disparity with Fitch should have raised alarm
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Equity holders will have to accept lower cash flows with no chance for a call
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Rise in loan prices allows sellers to take home profits while optimistic investors look to add equity risk
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BlueBay and Fidelity used the feature for the first time in Europe since the global financial crisis
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Spreads on split triple-A tranches average to 150.5bp
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Asset managers taking down triple digit sizes of AAAs for 'first time since 2021'
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Conditions seem perfect but there's nothing in the visible primary market pipeline
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Rare feature will allow manager to avoid negative 'cash drag' for equity
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◆ VW misses ESG deadline ◆ Good times for ABS ◆ CLO triple-A funds fear fall from power
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Manager boosts 2022 loan opportunities fund by 20% to €500m
