S&P’s Downgrade of VW Has No Impact on Auto ABS
Standard & Poor's downgrade of Volkswagen will have no immediate impact on its three U.S. auto loan and one auto lease asset-backed securities transactions it rates originated by VW Credit.
Europe
Top 10 of 2015: Europe Stays Positive Even as Rates Turn Negative
As key interest rates turned negative this year in Europe, everyday financial transactions entered the realm of fun-house mirrors.
Santander Markets Another $1.45B Equivalent of Spanish RMBS
Santander is marketing 1.33 billion ($1.45 billion) of notes backed by a portfolio of Spanish residential mortgages.
U.S. CLO Issuance Drops to $4.8B in November
Ten U.S. collateralized loan obligations totaling $4.8 billion were issued in November, marking the lowest monthly level since January 2014, according to Thomson Reuters LPC.
Kensington Taps U.K. Securitization Mkt with GE Money Mortgages
Kensington Mortgage Co. plans to issue a bonds backed by a portfolio of recently acquired GE Money originated U.K. mortgages.
New Bank Capital Rules Could Demolish ABS Trading
New bank capital rules on the horizon could nearly wipe out secondary trading in most kinds of asset-backeds, said JPMorgan analysts in a report.
More Lending, Low Rates Buoy Euro Securitizations
A jump in lending in many parts of Europe, coupled with rising economic growth and higher employment, should help bolster the performance of securitizations in Europe, according to Fitch Ratings.
BNP Paribas Resumes Unsecured French Consumer Loan Securitization
BNP Paribas Personal Finance, a subsidiary BNP Paribas, plans to resume securitizing personal consumer loans via its Noria platform.
Should Asset-Backeds Go Back to Their Old Pricing Benchmark?
Is it time for asset-backed deals to go back to Treasurys as their pricing benchmark? This is a question that researchers at J.P. Morgan are posing to the market.
BMW Marketing 800M German Auto Lease Securitization
BMW Bank plans to issue a new 800 million ($858 million) securitization of German auto leases, according to Standard & Poor's.
Another VW Lease ABS, This One Swiss, On the Way
AMAG Leasing, the leasing arm of Swiss auto distributor and Volkswagen importer AMAG, plans to make a market debut with a CHF400 million ($396 million) portfolio of Volkswagen leases, some of which are impacted by the recent emissions cheating allegations.
Kensington Mortgage Plans Second Prime UK RMBS
Kensington Mortgage plans to pool another £281.1 million ($424 million) of its U.K. prime RMBS loans under its Gemgarto master trust.
US CLO Issuance Picks Up in October to $8B
After declining in each of the three previous months, issuance of U.S. collateralized loan obligations picked up in October to $8 billion, its highest level since June, according to Thomson Reuters LPC.
Nonbank Lenders Court Mom-and-Pop Landlords
Several private-equity-backed lenders are making loans to small landlords, who represent the biggest chunk of the home-rental market and get less help from Fannie and Freddie than they once did.
Santander Readies Norwegian Auto Loan Securitization
Santander Consumer Bank plans to issue bonds backed by Norwegian auto loans receivables under its Bilkreditt trust.
Paragon Plans £100M Securitization of Buy-to-Let Mortgages
Paragon mortgage plans to issue £100 million worth of bonds backed by U.K. buy-to-let mortgages, according to Moody's Investors Service.
TSB Bank Launches First UK RMBS Under Sabadell Brand
TSB Bank, which is owned by Banco Sabadell, plans to offer a mix of euro and sterling denominated bonds under its newly minted U.K. master trust called Duncan Funding.
Regulators Finalize Rule to Boost Collateral for Uncleared Swaps
Two banking regulators approved a final rule Thursday to raise collateral requirements for uncleared swaps.
VW Preps 1st German Auto Lease ABS Since “Dieselgate” Broke
Volkswagen is returning to the securitization market for the first time since news broke that the automaker had rigged diesel vehicles to cheat emissions tests.
LCM Asset Management Marketing 3rd CLO of 2015
LCM Asset Management is marketing its third collateralized loan obligation of the year, according to Fitch Ratings.
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