Latest news
Latest news
Hire follows launch of new asset backed finance fund
Karen Anzalone joins law firm's structured finance and securitization practice
Bank continues to build in priority area
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Concerns were voiced by the National Landlord Association on Thursday following an announcement of new rent controls by London Mayor Sadiq Khan meant to restrict renting prices on buy-to-let (BTL) mortgages in London, many of which back UK securitizations.
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Australian lender Pepper Money this week started marketing an RMBS that will offer investors a euro-denominated tranche and a short-dated dollar tranche, as the issuer looks ready to be the first to jump into the European securitization market this year. -
GSO has entered the market with a euro CLO alongside Credit Suisse Asset Management's Cadogan Square XIII deal, which is looking at initial price thoughts of 105bp-110bp.
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M&G Investments has hired Vincent Charles-Gervais as a portfolio manager within its ABS team.
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Carlyle Group and BNPP are marketing a two-year non-conforming Euro CLO, at a time when CLO arbitrage is its worst level since 2013.
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Secondary securitization activity has accelerated since the first weeks of January, with strong prints on a large list of mainly euro-denominated auto ABS. Several market participants note that the ABS market is becoming less risk-averse as the year goes on.
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End of year earnings calls at the US banks all featured anxieties about the exposure of the firms to a leveraged finance market that was looking increasingly stretched through year end, with some bridges said to be hung and discounts offered on risk positions.
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The European Central Bank has slapped the institutions under its supervision with deadlines for dealing with their stocks of non-performing loans, giving the weakest lenders up to 2027 to raise their coverage levels to 100%. The revelation hit Italian banks hard in the market this week, though some commentators said that the new recommendations should hardly have come as a shock to investors.
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Barclays is on the road this week with a CLO that it is looking to sell this quarter for Credit Suisse Asset Management.
