Solar finance evolving, but ABS issuance stuck in low gear
The solar finance market is evolving as customers’ preferences shift to ownership, rather than leasing of, solar assets, but issuance of sunshine-backed bonds is down significantly in 2016. Panelists...
View ArticleSecond PACE issuer eyes Europe as asset class gains traction
Commercial and Residential Property Assessed Clean Energy (PACE) issuer Ygrene Energy Fund is looking sell ABS to European investors, amid the sector’s “explosive growth” in America.
View ArticleTelxius IPO offers rare mix of towers and undersea cables
Books opened this afternoon for the IPO of Telxius, the telecoms infrastructure division of Telefonica — an unusual company that combines telecoms towers with submarine fibre optic cables.
View ArticleGood signal for cell phone ABS
The nascent cell phone contract-backed ABS market, which generated outsized publicity and a big positive investor reception when Verizon Communications debuted its deal in June, has the potential to...
View ArticleFHFA looks to Congress to open CRT market to REITs
The Federal Housing Finance Agency (FHFA) is looking for congressional legislation to make the government sponsored enterprises’ (GSEs) credit risk transfer products easier to buy for real estate...
View ArticleBuyers struggling to break into CLO triple-A club
The senior tranches of new-issue CLOS are becoming an exclusive club consisting of US bank treasury departments, according to sources speaking with GlobalCapital.
View ArticleCLO liquidity makes a comeback, but game has changed after earlier carnage
Liquidity in the CLO market has improved “materially” in the second half of this year, but in the wake of enormous volatility in the first quarter that put the sector in a deep freeze, the trading...
View ArticleChange must come from the top - Women in Securitization
Women in Securitization (WiS), a Structured Finance Industry Group (SFIG) initiative dedicated to promoting diversity in the workplace, noted that change is only effective when enacted by senior...
View ArticleCLOs benefitting from "perceived" complexity
CLO spreads offer excess returns compared to the underlying assets and other credit markets because of the “perceived” rather than actual complexity and illiquidity of the market, heard LevInvest...
View ArticleUK 'must rein in spending' to preserve rating, says Moody's
While the Brexit vote prompted Moody’s to set the outlook for the UK’s Aa1 credit rating to negative, Moody’s representatives said that the UK could regain credit stability if it commits to keeping its...
View ArticleeDreams lands €435m clip with tiny increase
Spanish online travel agency eDreams increased the size of its bond to €435m on Tuesday, a deal which investors struggled to find comparables for.
View ArticleCorporate issuers hang back as supply slows before FOMC
European investment grade corporate bond issuance has wound down ahead of the Federal Open Market Committee meeting, but supply has been dwindling for about a week already.
View ArticleMadrid prints through Italian curve
The Community of Madrid on Wednesday priced a eight year euro syndication fractionally inside the Italian sovereign curve.
View ArticleCovered bond awards winners 2016
The Cover’s 10th annual covered bond awards took place this year at the Rheinterrace in Düsseldorf on Thursday, September 15.
View ArticleNets closes IPO early as investors pile in
Nets, the largest digital payments processor in the Nordic region, will close the books for its Dkr10.4bn to Dkr16.8bn ($1.6bn-$2.5bn) IPO two working days early after receiving strong demand.
View ArticleMore non-QM RMBS predicted before year end
The RMBS market is set to see more non-QM deals potentially as early as the fourth quarter of this year, as issuers say they are fielding more calls from investors who are showing an increased appetite...
View ArticleUbisoft’s €400m CB a blowout, with bids from 230 investors
Ubisoft, the French computer games publisher, raised €400m today in a highly successful convertible bond issue that was the first capital markets deal in its stock since 2010.
View ArticleESMA proposes exchange trading for iTraxx credit indices
The European Securities and Markets Authority (ESMA) has proposed making it mandatory to trade credit indices iTraxx Europe and Crossover on a regulated market or other recognised trading facility.
View ArticleBeware the siren song of cheap debt
The aftermath of the UK’s decision to leave the European Union has been an uneasy calm. Inflation is at a 20 month high of 0.6%, unemployment is at a post-crisis low, and consumer spending is robust....
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