Dubai Firm Markets $410M Aircraft Lease ABS
A Dubai-based aircraft fleet owner is issuing its first rated securitization of loans to purchase a new series of older passenger jets that it will lease to 13 airlines globally.
Europe
LeasePlan to Pool £545 Million in UK Vehicle Leases
A Dutch-based auto leasing firm is pooling a UK-based £545million securitization of corporate and public sector vehicle leases and residual value claims.
Cov-Lite is Catching on in Europe’s Leveraged Loan Market
A combination of loosened covenants, minimal call protections and aggressive, U.S.-style dry powder leveraging strategies have produced the most sponsor-friendly market for European leveraged loans since the financial crisis, according to a new report from U.S.-based Covenant Review.
DBRS Promotes Aufsatz To Lead European Structured Finance
DBRS, which recently expanded its scope of ratings coverage to include European corporates, has filled a new managing director role over its European structured finance team with the veteran analyst in commercial mortgage structured finance.
Another Non-Comforming Dutch RMBS Enters Market
A second round of Dutch residential mortgages is being securitized this week with the issuance of Euro-denominated notes backed by 157.73 million in non-conforming home loans underwritten by ELQ Portefeuille I B.V., a specialty lender in The Netherlands.
Obvion to Issue Latest STORM Deal in 1.19B RMBS
Obvion, a Dutch mortgage lender owned by Rabobank, is kicking off 2017 with its 41st securitization of 1.19 billion in prime residential mortgages to homeowners in The Netherlands.
What Montepaschi’s 8.8B ‘Bail-In’ Means for NPL Securitization
A larger-than-expected bail-in of Banca Monte dei Paschi di Siena has placed the focus on other major Italian banks that have similar plans to seek government guarantees on their non-performing loan securitizations.
Russia’s Vozrozhdenie Bank Rreadies RUB 7.4B RMBS
Russias Vozrozhdenie Bank is coming to market with a RUB 7.4 billion securitization of residential mortgages, its fifth to date, according to Moodys Investors Service.
CLO Reset Trend Catching On in Europe
Last week the European arm of Pinebridge Investments refinanced the Euro-Galaxy III CLO, a collateralized loan obligation originally issued in 2013, to reprice the entire transaction, according to Standard & Poor's.
Brexit-Driven Pound Depreciation May Drive Auto, Mortgage ABS Defaults
A Brexit-driven rise in the UKs inflation rate through 2017 would bring a depreciation in the British sterling that could create negative connotations for mortgage, auto loan and other consumer debt securitizations, according to Moodys Investors Service.
JPMorgan Hit Hardest as EU Fines Euribor Trio $521M
JPMorgan Chase, HSBC Holdings and Credit Agricole were fined a total of 485.5 million euros ($521 million) for rigging the Euribor benchmark as European Union antitrust regulators wrapped up a five-year investigation into the scandal.
New Towd Point Deal Pools Risky GE UK Home Loans
An £821.7 million pool of higher-risk problem UK residential mortgage loans originated by GE Home Money Lending and other GEHML-affiliated is being pooled into in a new Towd Point Mortgage Trust asset-backed offering arranged through Credit Suisse.
Freddie Mac to Delist Debt Securities from Irish, Luxembourg Exchanges
Freddie Mac plans to delist its debt securities, mortgage securities and STACR debt from the Luxembourg and Irish Stock Exchanges, citing the difficulty of complying with European Union regulations designed to prohibit insider trading.
Santander UK Markets ABS of £647.5M in Auto Loans
Santander Consumers UK operation is securitizing its first batch of originated British auto loans in over 18 months.
Another Seven US CLOs Priced Week of November 14
The November rush of new and refinanced collateralized loan obligations deals has quickly closed the gap on this years lagging levels of transaction volume compared to 2015.
MotoNovo Returns With £405M UK Auto Lease ABS
The leading used-car lender in the UK is piloting its latest revolving securitization secured by £405 million in consumer and commercial vehicle leases.
Italian Finance Firm Markets 1.2B Consumer Loan ABS
Italian lender Agos Ducato S.p.A. is pooling the receivables from personal, auto, furniture and other-purpose loans totaling 1.34 billion.
ZAIS Group Makes Senior London Office Hires
Structured credit firm ZAIS Group has hired two new executives to spearhead its collateralized loans obligation and other asset-backed businesses out of London.
Towd Point UK RMBS Focuses on Pre-Crisis Loans
The UKs Towd Point Mortgage Funding trust has issued its latest transaction consisting of a large swathe of pre-crisis home loans still beset by delinquencies, or encumbered by variable rates and second-liens.
GMAC UK Auto Loans Pooled in 7th E-CARAT ABS
E-CARAT 7 PLC is the latest British auto loan securitization of new and used Vauxhall Motors-branded vehicle loans originated by GMACs UK affiliate. The UK trust will issue GBP £416.7 million (US$468.18 million) in three classes of senior and subordinate notes secured by the loans.
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