ABS Markets
All Update archive
SCI ABS Markets covers International ABS providing Australian, European and UK ABS, CMBS and RMBS deal-focused news and data. It covers both the primary and secondary markets for such cash securitisations, which are tranched bonds that offer investors notes with different levels of seniority backed by a range of assets or receivables. ABS, or asset-backed securities, reference non-mortgage assets such as: auto loans/leases; consumer loans/credit cards; commercial finance, equipment and transport leases; NPLs; and SME loans. CMBS, or commercial mortgage-backed securities, and commercial real estate CLOs, or CRE CLOs, are backed by commercial mortgages or other commercial real estate assets. RMBS, or residential mortgage-backed securities, are backed by residential loans including: buy-to-let, non-conforming, NPL and Prime mortgages.
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ABS Markets Deal Alert - 6 December 2024, 16.00 UK time
UK STS BTL RMBS PMF 2024-2 was preplaced and has priced as follows:
PMF 2024-2
6 December 2024
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ABS Markets Deal Alert - 6 December 2024, 14:30 UK time
BofA Securities has been mandated as sole arranger and lead manager for TPMF 2024 Granite 7, an upcoming UK prime RMBS transaction.
......... 6 December 2024
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ABS Markets Monthly - November 2024
Early signs of European CMBS revival
The European CMBS market is showing signs of rebounding, driven by new asset classes, growing issuance, and ESG focus.
The European CMBS market is gradually showing signs of a resurgence after years of stagnation, with 2024 bringing an uptick in issuance, according to panelists at SCI’s Annual European CRE Finance Seminar in London in late ...
6 December 2024
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ABS Markets Daily - 5 December 2024
*ABS/MBS poised for stability in 2025 *Europe keeps its silence *Three Australians move ahead
Cruise control: Stable outlook for ABS and MBS in 2025
JP Morgan strategists predict stable European, UK and Australian ABS/MBS markets in 2025, despite global challenges
As we approach 2025, strategists at JP Morgan foresee a year of steady performance for the ABS and MBS markets across Europe, ...
Market Moves5 December 2024
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ABS Markets Daily - 4 December 2024
*Europe stays quiet *One Aussie deal launches
Primary
Europe/UK
Today's activity was steady, with no movements to report. However, last night Charter Court Financial Services, a wholly owned subsidiary of OSB Group, mandated BofA as sole arranger and lead manager for PMF 2024-2, an upcoming UK RMBS deal backed by prime UK buy-to-let mortgages.
The visible European new issue pipeline now looks like this:
Market Moves4 December 2024
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ABS Markets Daily - 3 December 2024
*European and Aussie markets remain frozen
Primary
Europe/UK
The new issue pipeline stayed frozen as the market lull persisted today as well.
Australia
Another day where the market remained dormant, with no activities or developments to report.
Meanwhile, last night S&P and Fitch assigned preliminary ratings to the Angle Auto Finance’s fifth securitisation of auto ABS Panorama Auto Trust 2024-4P.
Panorama Auto Trust 2024-4P
Market Moves3 December 2024
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ABS Markets Daily - 2 December 2024
*Europe and Australia at a standstill
Primary
Europe/UK
Another weekday passed with no updates from the market, leaving the European new issue pipeline at a standstill.
Australia
The week started with no market activities.
Meanwhile, last week non-conforming RMBS Crimson 2024-1 Bond Trust priced as follows:
Crimson 2024-1 Bond Trust
Market Moves2 December 2024
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ABS Markets Daily - 29 November 2024
*Aussie auto ABS speeds up *No movements from Europe *One Australian seeks interest, as one prices
Australian auto ABS accelerates ahead
Australian auto loan ABS thrives on strong performance and parallels evolving trends seen in EMEA markets.
The Australian auto loan ABS market has become a cornerstone of the country’s structured finance landscape, distinguished by its unique characteristics and strong performance record. ...
Market Moves29 November 2024
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ABS Markets Daily - 28 November 2024
*Europe stays quiet *Four Australians move ahead
Primary
Europe/UK
No movement from today’s market activity, leaving the European new issue pipeline empty.
Australia
Busy day, featuring one new mandate, a deal bypassing the announcement phase to seek interest directly and two updates from two other deals.
Bluestone mandated CBA, Macquarie, NAB (arranger), SMBC and Westpac to engage with investors in relation to their Sapphire RMBS’ ...
Market Moves28 November 2024
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ABS Markets Deal Alert - 27 November 2024, 17.05 UK time
Irish RMBS Shamrock Residential 2024-1 has priced as follows:
Shamrock Residential 2024-1
27 November 2024
ABS Markets Deal Alert - 27 November 2024, 11.20 UK time
Irish RMBS Shamrock Residential 2024-1 has updated tranche sizes, based on final rating feedback. Pricing is expected today.
Shamrock Residential 2024-1
27 November 2024
ABS Markets Daily - 27 November 2024
*Two European deals price *One Australian deal updates
Primary
Europe/UK
Today saw the pricing of two deals, which, along with UK Logistics' pricing last night, have fully cleared out the European new issue pipeline.
Market Moves27 November 2024
ABS Markets Deal Alert - 27 November 2024, 14.30 UK time
Italian auto loan ABS A-BEST 25 has priced as follows:
A-BEST 25
27 November 2024
ABS Markets Deal Alert - 27 November 2024, 10.45 UK time
Italian auto loan ABS A-BEST 25 has set spreads for its class B, C and D and released a book update. Pricing is expected this afternoon.
A-BEST 25
27 November 2024
ABS Markets Deal Alert - 26 November 2024, 17.00 UK time
Italian auto loan ABS A-BEST 25 has released final guidance and a book update. Pricing is expected tomorrow.
A-BEST 25
26 November 2024
ABS Markets Daily - 26 November 2024
*One European updates, as one is about to price *One Australian progresses
Primary
Europe/UK
Market activity featured an update on one deal and UK Logistics’ CMBS 2024 second series providing final guidance ahead of the anticipated pricing phase.
Market Moves26 November 2024
ABS Markets Deal Alert - 26 November 2024, 15.05 UK time
UK CMBS UK Logistics 2024-2 has set its spreads and a book update. Pricing is expected this afternoon.
UK Logistics 2024-2
26 November 2024
ABS Markets Deal Alert - 26 November 2024, 14.05 UK time
Italian auto loan ABS A-BEST 25 has set spread for its class E and released guidance and a book update. Pricing is expected tomorrow.
A-BEST 25
26 November 2024
ABS Markets Deal Alert - 26 November 2024, 11.35 UK time
UK CMBS UK Logistics 2024-2 has released final guidance and a book update. Pricing is expected this afternoon.
UK Logistics 2024-2
26 November 2024
ABS Markets Deal Alert - 25 November 2024, 16.25 UK time
Irish RMBS Shamrock Residential 2024-1 has opened its books and released initial price talk. Pricing is expected as early as tomorrow.
Shamrock Residential 2024-1
25 November 2024
ABS Markets Daily - 25 November 2024
*Three Europeans update *One Aussie prices
Primary
Europe/UK
Today's market activity showed some momentum, with two deals announcing initial price talk and another progressing to the guidance stage.
Market Moves25 November 2024