Santander’s Next Finnish Auto ABS Excludes VW Brand
Santander's latest Finnish auto lease securitization entirely excludes loans that finance vehicles manufactured by Volkswagen Group.
Europe
Three Big Banks Lead $135M Investment in Kabbage
The pioneering online lender Kabbage has raised $135 million in new equity financing, with three large multinational banks among the lead investors, the company announced Wednesday.
BBVA Compass Resumes Auto Loan Securitization
BBVA Compass is returning to the U.S. securitization market after a 17 year absence with $500 million of bonds backed by prime auto loans.
Lloyds Plans U.K. RMBS from Permanent Master Trust
Lloyds Banking Group is its U.K. Permanent master trust and plans to offer bonds denominated in US dollars, UK sterling and euros, according to Moody's Investors Service.
Fannie Mae’s 1st Actual Loss Deal is With Reinsurers
Fannie Mae has completed a credit risk sharing transaction that transfers the actual losses on mortgages it ensures to reinsurers, as opposed to capital markets investors.
How VW Recall Puts Dealer Floorplan Securitization At Risk
Volkswagens decision to halt sales of diesel cars in the United States that are involved in a recall puts bonds backed by dealer floorplan financing at risk
NewStar’s Next CLO Complies with European Risk Retention
NewStar Financial has launched a $400 collateralized loan obligation that complies with European risk retention standards, according to Fitch Ratings.
American Capital Closes a CLO, CIFC Prices Another
CLO market is still open: American Capital has closed one deal and CIFC has priced another.
Angelo Gordon Placing More Stock in Credit
Joshua Baumgarten will leave The Blackstone Group in 2016 for Angelo, Gordon & Co. where he has been named head of credit.
Turkey Completes a Second Cat Bond for $100M
The Turkish Catastrophe Insurance Pool has completed a second catastrophe bond through a new shelf bond program dubbed Bosphorus Ltd.
Top 10 US CLO Managers Lost Market Share in First Half
Moodys Investors Services rankings of the U.S. collateralized loan obligations shows that the market share of the top 10 declined slightly between January and July
Navient’s Latest Private SLABS Refinances 2010 Deal
Navient is marketing a $700 million private student loan securitization, according to Standard & Poors.
Goldman Marketing U.K. CMBS Backed by Logicor Warehouses
Goldman Sachs is marketing commercial U.K. mortgage bonds backed by a portfolio of distribution warehouses owned by Logicor.
Z Capital Debuts as a CLO Manager
Z Capital Credit Partners LLC is something of a rarity these days: a first-time CLO manager.
SEC to Allow CLOs to Refi Without Triggering Risk Retention
CLO managers are receiving a small concession from regulators that will allow them to refinance most of their issues in two years without triggering risk-retention rules.
Barclays Ousts Jenkins as CEO, Blaming Him for ‘Cumbersome’ Bank
Barclays Plc Chairman John McFarlane, barely two months into the job, ousted Chief Executive Officer Antony Jenkins and pledged to tackle a "cumbersome and bureaucratic" bank.
Issuance of U.S. CLOs Rebounds to $11B in June: Thomson
After slowing in May to $5.66 billion, U.S. CLO issuance bounced back to $11 billion in June, bringing total volume for the first half of the year to $58.3 billion, according to Thomson Reuters.
This Risk Retention Workaround is Gaining Traction with CLO Managers
Shorter non-callable periods are gaining traction as a way for CLO managers to avoid rules that will require them to keep skin in the game of deals printed after December 2016.
Peripheral European Issuers Ready to Dive Back In to RMBS
Two peripheral European issuers are ready to dive back in to the market for residential mortgage backed securities.
Terex Obtains ABCP Facility, Reprices Euro Term Loan
Terex Corp., a manufacturer of heavy equipment, has closed on its first asset-backed commercial paper conduit.
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