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 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
ABS Markets Deal Alert - 25 November 2024, 13.20 UK time
UK CMBS UK Logistics 2024-2 has released guidance and a book update. Pricing is expected tomorrow.
UK Logistics 2024-2
25 November 2024
ABS Markets Deal Alert - 25 November 2024, 9.15 UK time
Italian auto loan ABS A-BEST 25 has opened its books and released initial price talk. Pricing is expected on Wednesday.
A-BEST 25
25 November 2024
ABS Markets Daily - 22 November 2024
*One update from Europe *None from Australia
Primary
Europe/UK
Today, the market continued its moderate activity from recent days, with just one UK CMBS releasing a book update.
Market Moves22 November 2024
ABS Markets Daily - 21 November 2024
*No updates from Europe *Two pricings and two updates from Australia
Primary
Europe/UK
No deal updates featured from the market today.
The visible European new issue pipeline currently looks like this:
Market Moves21 November 2024
ABS Markets Daily - 20 November 2024
*October factsheets in *UK Logistics starts price talk *One Australian prices
Variety rules in European ABS
October saw strong momentum in the European and UK ABS and MBS markets, fuelled by diverse issuance
European and UK ABS and MBS markets maintained momentum in October, building on the robust issuance pace set in September, according to monthly European and UK factsheets monitored by ...
Market Moves20 November 2024
ABS Markets Deal Alert - 20 November 2024, 14.05 UK time
UK CMBS UK Logistics 2024-2 has opened its books and released initial price talk. Pricing is expected early/mid next week.
UK Logistics 2024-2
20 November 2024
ABS Markets Daily - 19 November 2024
*One European about to price, as one introduces itself *One Aussie releases final guidance
Primary
Europe/UK
An uptick in activity levels for the market today, with a deal expecting to price shortly and a new announcement.
Italian STS auto loan ABS Auto ABS Stella Loans 2024-1 released final terms. Pricing to follow shortly.
Auto ABS Stella Loans 2024-1
Market Moves19 November 2024
ABS Markets Deal Alert - 19 November 2024, 14.15 UK time
Italian auto loan ABS A-BEST 25 has begun marketing.
Issuer: Asset-Backed European Securitisation Transaction Twenty-Five
Seller & Servicer: CA Auto Bank
Collateral: Italian Auto Loans
Arranger: Crédit Agricole Corporate and Investment Bank (CA-CIB)
Joint Lead Managers: BofA Securities / CA-CIB / UniCredit
Sole Bookrunner: CA-CIB
19 November 2024
ABS Markets Deal Alert - 19 November 2024, 9.10 UK time
Italian STS auto loan ABS Auto ABS Stella Loans 2024-1 has set spread for its class A and released guidance and a book update. Pricing is expected this afternoon.
Auto ABS Stella Loans 2024-1
19 November 2024
ABS Markets Deal Alert - 19 November 2024, 15.30 UK time
Italian STS auto loan ABS Auto ABS Stella Loans 2024-1 has released final guidance and a book update. Pricing is expected this afternoon.
Auto ABS Stella Loans 2024-1
19 November 2024
ABS Markets Daily - 18 November 2024
*Last week's further update on secondary *One European updates *One Australian launches
Secondary is on hold
According to a European trader, last week the market appeared to be in a holding pattern as participants try to digest the implications of the US elections and reassess their strategies.
“It’s been a quiet week on secondary,” she remarks. “Volumes are slightly higher than last ...
Market Moves18 November 2024
ABS Markets Deal Alert - 18 November 2024, 14.45 UK time
Italian STS auto loan ABS Auto ABS Stella Loans 2024-1 has released a book update. Pricing is expected early/mid this week.
Auto ABS Stella Loans 2024-1
18 November 2024
ABS Markets Deal Alert - 18 November 2024, 11.00 UK time
Italian STS auto loan ABS Auto ABS Stella Loans 2024-1 has opened its books and released initial price talk. Pricing is expected early/mid this week.
Auto ABS Stella Loans 2024-1
18 November 2024
ABS Markets Daily - 15 November 2024
*Secondary slowdown *Europe remains silent *Two Australian deals price
Secondary lull
The European ABS secondary market has seen a notably quiet week, with traders reporting a slowdown in activity, particularly within the CLO segment. The muted trading environment reflects a broader hesitation among market participants, as momentum seems to have stalled.
Primary
Europe/UK
The week concluded with no activity in the market.
The ...
Market Moves15 November 2024
ABS Markets Daily - 14 November 2024
*One European announcement *One Australian launches
Primary
Europe/UK
A new deal joined the pipeline today.
Market Moves14 November 2024
ABS Markets Deal Alert - 14 November 2024, 12.35 UK time
Irish RMBS Shamrock Residential 2024-1 has begun marketing. ...
14 November 2024
ABS Markets Deal Alert - 13 November 2024, 15.10 UK time
UK CMBS UK Logistics 2024-2 has begun marketing.
Blackstone Real Estate Partners, BofA and Morgan Stanley are pleased to present UK Logistics 2024-2, a new £389.4m CMBS transaction backed by two uncrossed loans that will refinance Blackstone’s acquisition of two urban logistics portfolios, both acquired over the past 12 months.
ISSUER: UK Logistics 2024-2
SPONSOR: Blackstone Real Estate Partners
JOINT ARRANGERS: BofA and Morgan Stanley
JOINT LEAD ...
13 November 2024
ABS Markets Daily - 13 November 2024
*Second UK Logistics CMBS makes its appearance *One Aussie prices, one seeks interest
Primary
Europe/UK
Today’s activity included the debut of the second CMBS series from UK Logistics.
13 November 2024
ABS Markets Daily - 12 November 2024
*Europe records no movement *Australia greets two new deals
Primary
Europe/UK
Uneventful day for the market with no updates or new deals, leaving the European new issue pipeline with just one entry:
Market Moves12 November 2024