Volkswagen Preps 500M French Auto Loan Securitization
Volkswagen is prepping a 500M French Auto Loan Securitization, its second in 20 months.
Europe
Marketplace Securitization is Growth Area for BNY Mellon Corporate Trust
BNY Mellon's corporate trust business has already participated in as many securitizations of marketplace loans in the first quarter of 2015 as it did for all of 2014.
Monroe Capital Prices its 1st Broadly Syndicated CLO
Monroe Capital has priced its first securitization of broadly syndicated corporate loans.
Federal Reserve Fix Means Smaller “Fire Sale” for CLO 2.0
The Federal Reserve clarifies that foreign banks can hold CLOs that don't comply with the Volcker Rule.
Paragon Preps £154.5M U.K. Buy-to-Let RMBS
Paragon, a U.K. buy-to-let mortgage lender, plans to securitize a £154.5 million ($232 million) pool of mortgage loans, according to a Moodys Investor Service presale report.
European CLO Managers’ Lament: No Market for Sterling Tranches
Many European CLO managers would love to do more multi-currency deals, if only they could find buyers for the sterling tranches.
Kensington Marketing Next Non-Conforming UK RMBS
The Blackstone Group and TPG Special Situations Partners-owned U.K. specialty lender Kensington Group is marketing a £360 million ($554 million) securitization of nonconforming U.K. mortgages.
BAML Names 2 CLO Vets to Global Structured Fin Roles
Bank of America Merrill Lynch promoted two more executives from its collateralized loan obligation unit to top roles in global structured finance.
ABS: Vegas: Return of Multi-Currency European CLOs
European CLO managers are edging closer to a type of deal not seen since the financial crisis multi-currency tranches.
Mid-Sized Managers Pick Up Bigger Slice of U.S. CLO Market
Moody's Investors Services top rankings of U.S. CLO managers still includes many familiar names, but the usual suspects lost market share in the fourth quarter of 2014 to some medium-sized managers.
Mitsubishi UFJ Taps Alex Pierre as Intl Co-Head Structured Products
Mitsubishi UFJ Securities Holdings Co., Ltd., (MUSHD) a member of global financial group MUFG, has tapped a UBS veteran to help expand its structured products business.
Gebäudeversicherung Bern Issues 1st Swiss Franc Cat Bond
Gebäudeversicherung Bern has issued its first catastrophe bond, according to GC Securities, the sole placement agent.
AXA Marketing its Second U.S. CLO
European insurer and money manager AXA Group is in the market with its second U.S. collateralized loan obligation, according to rating agency reports.
Sankaty Advisors Prepping 364M European CLO
Sankaty Advisors is prepping a 364.025 million ($447 million) European collateralized loan obligation, according to Moodys Investors Service.
Russian RMBS: Safe, For Now
The Russian ruble is in freefall its down more than 50% since January and interest rates are climbing on the back of the Bank of Russias aggressive efforts to shore up the embattled currency.
Strong Demand for NewDay’s Inaugural UK Credit Card ABS
NewDay, a newcomer to the U.K. securitization market, has priced £293 million of bonds backed by credit card receivables.
Tesco’s UK CMBS Ratings May Fall to Junk: S&P
Standard & Poor's may downgrade its credit ratings of seven U.K. CMBS transactions with exposure to Tesco if the supermarket operator's long- and short-term corporate credit ratings fall below investment grade.
Basel Cuts External Ratings in Revised Securitization Rules
International bank regulators finalized changes Thursday that will greatly diminish the role of external ratings agencies in weighting the risk of securitized assets in capital requirements.
Wells Fargo’s Forecast for U.S. CLO Issuance in 2015: $90B
Wells Fargo expects Issuance of collateralized loan obligations is to moderate in 2015, to $90 billion.
Potential for Consolidation Among CLO Managers May Be Overhyped
While risk retention will hit smaller managers hard, Oliver Wriedt of CIFC Asset Management, one of the biggest, thinks the potential for consolidation may be overstate.
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