Latest Securitization People & Markets news
The Special Situations Group at Goldman Sachs has structured private financing vehicles based in Luxembourg, which package up bundles of loans made by the group with an average rating of B/B-. The vehicle will also hold risk retention interests for Goldman-sponsored securitizations.
The chances of a profound transformation of financial markets to equip them to fight climate change rose this week, when the European Parliament adopted a bold set of policies that would require investors, banks and companies to take into account their impacts on the environment and society. Bonuses would be linked to sustainability targets.
The European Parliament will push for stronger rules on sustainability for investment firms and banks, after its Economic and Monetary Affairs Committee voted on Monday evening to go beyond what the European Commission is recommending.
Chris Woolard, executive director of strategy and competition at the UK’s Financial Conduct Authority, has warned mortgage bankers about the explosive grow in the lifetime mortgage section of the market — a move driven partly by regulatory changes for the UK’s life insurers.
Obscure disclosure rules for European securitizations could bring asset-backed commercial paper conduits to a sudden stop on January 1, forcing the banks that sponsor them to step in with liquidity support of up to €130bn.
Uncertainty over the ultimate shape of the European Union’s simple transparent and standardised (STS) securitization framework may be hampering investor demand for top quality securitizations, according to bankers.
The Council of the European Union agreed on a softer line for writing down non-performing loans on Wednesday, extending the timeline that European banks will be given to provision bad loans down to 0%. The Council’s proposals also add a third category of NPLs to the planned distinction between ‘secured’ and ‘unsecured’, giving separate treatment to loans secured on 'movable' collateral.
The credit arm of private equity firm BC Partners has listed a new direct lending business, Mount Logan Capital, with the firm eyeing better returns in private credit compared with more liquid markets.
Lloyd’s of London has identified several financial instruments that could boost investment in resilience against disaster. The solutions incorporate features of loans, bonds, catastrophe bonds and securitization.
RBC Capital Markets announced a series of hires in European real estate investment banking on Wednesday, part of the firm’s gradual expansion across industries in European IB.
Recent developments may help push the risk of cyber attacks onto the capital markets through catastrophe bonds and other insurance-linked securities (ILS). But investors are likely to be wary about taking on too much exposure.
Go to GlobalCapital's Securitization data pages for our dealflow database, plus details of priced European and US CLOs and structured finance bookrunner league tables.
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Latest news by market and league table performance
|Rank||Lead Manager/Arranger||Total Volume $m||No. of Deals||Share % by Volume|
|2||Bank of America Merrill Lynch (BAML)||8,264||27||10.34|
Bookrunners of Global Structured Finance
|Rank||Lead Manager||Amount $m||No of issues||Share %|
|2||Bank of America Merrill Lynch||94,721.79||272||8.85%|
|4||Wells Fargo Securities||82,597.19||239||7.72%|