European Securitization
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Sterling deals in double figures possible in January with spreads likely to tighten
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Investors welcome efforts to harmonise ESG reporting but say the ultimate goal must be a comprehensive scoring system
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PCS says STS volumes disappointing but overall supply likely to grow
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Regulator warns about potential conflicts of interest but says report not driven by wrongdoing
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The law firm could grow the team further next year
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Investors demanded less of a premium to more conservative managers than on previous deals, sources said
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‘Opportunistic’ deal could take advantage of unusual late December window
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December's latest prepaced deal needed 53% credit enhancement for a long-seasoned pool
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European ABS market participants are optimistic about 2024, despite the persistence of rates volatility and economic fears. While poor arbitrage haunts the CLO market, managers are ready to tighten the straps on their captive equity funds and soldier on. George Smith and Victoria Thiele assess the market outlook for European securitized products
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For the first time since the global financial crisis, there is optimism that much-needed positive and proportionate regulatory reform is coming to European securitization. Yet there is a long way to go before glimmers of hope translate into concrete changes or have a meaningful impact, write Tom Lemmon and George Smith.
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Rate peak joy soothes angst over Austrian collapse, but losses will surface