Securitization - European Archive

  • Piraeus covers capital raise to clean up NPL portfolio

    Piraeus covers capital raise to clean up NPL portfolio

    Piraeus Financial Holdings, the Greek holding company which owns Piraeus Bank, has launched a capital raise to give it the firepower needed to offload non-performing loans and has already secured enough demand on one morning of book-building to cover the deal.

  • UCI brings Spanish RMBS in hot market

    UCI brings Spanish RMBS in hot market

    UCI is bringing a Spanish RMBS, its second since a recent break from the market which ended in 2020, issuing a smaller deal this time but with a lower LTV portfolio. BNP Paribas and Santander are arranging the deal.

  • Divergence on ABS is healthy, just don't touch STS

    Divergence on ABS is healthy, just don't touch STS

    As the securitization regimes in the UK and the EU begin to diverge, the changes made so far will do little long-term damage and there are even potential benefits, as long as rule makers on both sides of the English Channel stay true to the 'simple, transparent and standardised' (STS) principle.

  • Israeli sponsor supports UK hotel CMBS as lockdown exit nears

    Israeli sponsor supports UK hotel CMBS as lockdown exit nears

    Israeli investor Amir Dayan is injecting more financing into a hotel-backed CMBS made up of 17 Holiday Inn and three Crowne Plaza hotels distributed across the UK, as the government toys with opening up the country’s tourism sector.

  • Germany, Belgium join battle over Taxonomy credibility as it goes to wire

    Germany, Belgium join battle over Taxonomy credibility as it goes to wire

    Hectic negotiations and lobbying are going on at the European Commission about the Taxonomy of Sustainable Economic Activities, in the last day before it is due to publish the detailed rules. Key countries including Germany have changed their positions, GlobalCapital can reveal, while supporters of gas and nuclear power are digging in. Battlelines are now being drawn over the timing.

  • BlueBay hires CLO portfolio manager from Challenger

    BlueBay hires CLO portfolio manager from Challenger

    BlueBay Asset Management has hired a portfolio manager to its structured credit and CLO management team, bringing in Tom Mowl from his previous position as senior portfolio manager at Challenger Investment Partners.

  • Banca Progetto adds to Italian CQS securitization flow

    Banca Progetto adds to Italian CQS securitization flow

    Banca Progetto, an online bank backed by Oaktree Capital, is bringing an Italian consumer transaction securitizing payroll-deductible loans, with the majority originated slightly before or during the pandemic. The issuer has mandated BNP Paribas on the transaction.

  • ‘Trench warfare’ as vultures swoop on Irish NPLs

    ‘Trench warfare’ as vultures swoop on Irish NPLs

    Private equity "vulture funds" are tightening their grip on Ireland after a Covid-19 parliamentary bill opened up more mortgages for repossession. But legal practitioners are working with non-profits to stop PE firms from “scraping the barrel” of defaulted mortgage debt.

  • Oodle to sell excess spread notes as auto ABS compresses

    Oodle to sell excess spread notes as auto ABS compresses

    Oodle Car Finance is selling further down the capital structure than ever before with its latest Downson auto ABS. It has added excess spread notes to the offering as well as a full stack of principal-backed notes following spread compression in auto ABS driven by scarcity.

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