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Latest news
European and high yield chiefs to take the reins
Kevin Duignan to retire after 33 years, mainly in structured finance
First European buy now, pay later securitization expected next year
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With new regulatory frameworks in place for securitization in Europe comes another bout of uncertainty for the trajectory of the market. The stunted issuance pipeline in the first half of this year and the delay of the regulatory technical standards (RTS) for STS securitization have driven a jump in attendance at this year’s Global ABS conference, drawing 4,100 registrations ahead of the event.
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The Securitisation Regulation came into force in January but there is still room for market participants to influence the details of the rules – and the European Commission is still receptive to feedback, if only the industry will “raise its voice”, said Alexandre Linden of BNP Paribas.
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Angelo, Gordon & Co has hired former Pimco portfolio manager Sunil Kothari as managing director, responsible for originating and executing on residential and consumer debt investments across Europe. -
The European Central Bank will price the third instalment of its Targeted Longer-Term Refinancing Operations (TLTRO III) more harshly than expected, it revealed on Thursday. This should keep most banks using market funding. Meanwhile, expectations are rising of another round of quantitative easing, something that would boost prices of bank debt, write Tom Brown, Jasper Cox, David Freitas and Bill Thornhill.
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Commercial Property Assessed Clean Energy (PACE) finance firm CleanFund has appointed Lain Gutierrez as CEO, the company announced onTuesday. Gutierrez replaces Greg Saunders, who has served as CEO since 2015.The firm also announced a new round of private equity funding.
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Prime Collateralised Securities has hired Martina Spaeth as a senior analyst working on the verification of securization deals to qualify for the 'simple, transparent and standardised’ (STS) label.
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A key regulatory technical standard (RTS) draft for homogeneity requirements in European securitizations has been finalised, in a move that shows work on the 'simple, transparent and standardised' (STS) framework is progressing, though not at a quick enough pace to entice more investors to market.
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Cairn Capital will be able to distribute its multi-asset credit offering more widely, through the establishment of a joint UCITS (undertakings for collective investment in transferable securities) fund with its owner Mediobanca.
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Mizuho hires for new CLO role — Boskamp to join Crédit Agricole for corporate DCM — JP Morgan shakes up SSA team
