Issuer eyes ‘super senior’ UK RMBS structure
Non-conforming residential mortgage investors could see the return of “super-senior tranches” in new deals, according to an executive at a mortgage issuer that is looking to employ the structure in a...
View ArticleBrexit threatens both UK and Europe ABS markets
The UK ABS market has begun to see the beginnings of the long-predicted liquidity crisis stemming from the UK referendum, as polls begin to forecast with increasing regularity that Britain will leave...
View ArticleGlobal green bond issuance primed to take off
Panelists at Global ABS agreed that growing interest in environmental impact and attractive returns on bonds are helping the asset class catch investor interest from both sides of the pond.
View ArticleCommission calls for patience on ABS proposals
The European Commission’s official responsible for securitization, Almorò Rubin de Cervin, told attendees at the Global ABS conference in Barcelona that the market needs to be patient and keep working...
View ArticleDutch central bank said to fight back over capital rules
The central bank of the Netherlands is said to have pushed back against the Basel Committee on Banking Supervision over capital rules that will hit the nation’s banks particularly hard.
View ArticleCMBS, Dutch RMBS issuance volumes will be "challenged" in 2016
Panellists on the ABS researchers roundtable at Global ABS in Barcelona on Wednesday cited challenges in CMBS and Dutch RMBS issuance, with many maintaining a neutral to bearish outlook on European ABS...
View ArticleABS players fear MEPs trying to shutter market
The securitization industry is growing concerned that politicians are deliberately trying shutter the market widely blamed for causing the financial crisis, following MEP Paul Tang’s comments last week...
View ArticleDiversity is better for business, say panellists
Global ABS hosted the event's first ever Women in ABS panel discussion on Wednesday, with speakers addressing a standing room only crowd on the importance of making diversity a key component of the...
View ArticleTrading desks need to offer financing to stay healthy
The rise of repo and secondary financing is becoming increasingly important to keeping ABS trading alive, as two major banks restructure their securitization businesses to bring trading, secondary...
View ArticleUS CMBS players face the music at CREFC
US CMBS investors and issuers descended on New York City this week for the annual CREFC summer conference, with attendees saying that the market has come to terms with its regulatory fate, even if it...
View ArticleTett inoffensive
Financial Times US managing editor Gillian Tett had warm words for the securitization industry, despite some residual distrust of her reporting on the market among audience members.
View ArticleEU issuers advised to wait on US deals
European issuers planning to hit the US primary market may want to hold off and opt to wait out the political turmoil and regulatory uncertainty that has gripped the US securitization market, according...
View ArticleLafargeHolcim taps into technically hungry corp bond market for €300m
LafargeHolcim, the French-Swiss cement group, found ample demand in the European bond market today for a tap issue, showing how keen appetite remains despite the nearness of the UK’s referendum on...
View ArticleDirect Energie block nets €42m as Ecofin sells out
Ecofin, the investment manager that specialises in the infrastructure and environment sectors, this evening launched an accelerated bookbuild to clean up all its shares in Direct Energie, the...
View ArticleBrexit surge and widening vol sends deriv markets into tailspin
Panic around the rising likelihood of the UK choosing to leave the European Union in a referendum on June 23 sent European and US markets into turmoil this week, with volatility jumping as traders...
View ArticleSalini Impregilo raises €300m for bond refi and acquisition
Salini Impregilo, the Italian construction firm, sold €300m of non-callable notes on Thursday to refinance its old 2018 notes, and finance part of its acquisition of US peer Lane Industries.
View ArticleCapital markets wake up to Brexit threat as SSAs, FIG brace for impact
Capital markets this week finally faced up to the possibility of the UK voting to leave the European Union in next Thursday’s referendum. There was a distinct whiff of panic in European bond markets,...
View ArticleTwo-way CSAs popular for structured notes
Supranationals are experiencing a resurgence in interest in structured notes and, for some issuers, switching to two-way credit support annexes is enabling them to make the most of the demand.
View ArticleTrio line up from Argentina as bankers stay bullish
The decision from the Argentine province of Salta to wait a few days before returning to bond markets this week (see separate story) did nothing to dampen bankers’ enthusiasm for Argentina as three...
View ArticleCorporate, HY, EM and leveraged markets work right down to Brexit wire
Credit markets showed their capacity to surprise this week, as a varied array of issuers, including high yield and emerging market companies, raised funds, even though a referendum that could lead to...
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