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 - 12 June 2024
*NewDay announces *Three Europeans update *One Aussie deal solicits interest
Primary
Europe/UK
Europe showed heightened levels of activity today, with a new issue from NewDay Funding Master’s programme, two deals opening their books and one updating.12 June 2024
ABS Markets Deal Alert - 12 June 2024 15.00 UK time
Italian STS auto loan ABS Auto ABS Stella Loans 2024-1 has released guidance and a book update. Classes B-E will go subject at short notice and pricing is expected tomorrow, with the potential to upsize to €1.2bn.
Auto ABS Stella Loans 2024-1
12 June 2024
ABS Markets Deal Alert - 12 June 2024 12.05 UK time
Irish STS non-conforming RMBS Finance Ireland RMBS No.7 has opened its books and released initial price talk. Pricing is expected on Friday.
Finance Ireland RMBS No.7
12 June 2024
ABS Markets Deal Alert - 12 June 2024 09.40 UK time
STS UK credit card ABS Newday Funding Master 2024-2 has begun marketing via co-arrangers NewDay and Société Générale. The latter is also serving as a lead manager alongside fellow JLMs BNP Paribas, JPMorgan and MUFG. Pricing is targeted for next week and investor calls are available upon request.
Newday Funding Master 2024-2
12 June 2024
ABS Markets Deal Alert - 12 June 2024 09.15 UK time
German STS equipment ABS TREVA Equipment Finance 2024-1 has opened its books and released initial price talk. Pricing is expected at the end of the week.
TREVA Equipment Finance 2024-1
12 June 2024
ABS Markets Daily - 11 June 2024
*Two Europeans move forward *One Australian prices and one seeks interest
Primary
Europe/UK
European activity subdued today, with one deal starting price discussions and another providing updates.11 June 2024
ABS Markets Deal Alert - 11 June 2024 16.30 UK time
Italian STS auto loan ABS Auto ABS Stella Loans 2024-1 has released a book update. Pricing is aimed for tomorrow or Thursday.
Auto ABS Stella Loans 2024-1
11 June 2024
ABS Markets Deal Alert - 11 June 2024 09.15 UK time
Italian STS consumer ABS Quarzo 2024 has opened its books and released initial price talk. Pricing is expected this week.
Quarzo 2024
11 June 2024
ABS Markets Daily - 10 June 2024
*Two Europeans announce and one talks *Australia on holiday
Primary
Europe/UK
A flurry of activity today with everyone back at their desks post Barcelona. Two deals began marketing and another opened its books.STS Irish non-conforming RMBS Finance Ireland RMBS No.7 began marketing via sole arranger BofA who is joined as a JLM by Citi. Investor calls are available ...
Market Moves10 June 2024
ABS Markets Daily - 7 June 2024
*TREVA starts up *Brignole shares structure *Two Australians price
Primary
Europe/UK
Today saw the first action since Monday in a Barcelona-reduced week with a German equipment ABS starting marketing and capital structure details released for an Italian consumer ABS. There were no pricings this week.TREVA Equipment Finance 2024-1
7 June 2024
ABS Markets Deal Alert - 7 June 2024 16.45 UK time
Capital structure details have been released for Italian STS consumer ABS Brignole CO 2024. Investor calls are available on request from Monday and pricing is expected next week.
Brignole CO 2024
7 June 2024
ABS Markets Deal Alert - 7 June 2024 10.45 UK time
German STS equipment ABS TREVA Equipment Finance 2024-1 has begun marketing via co-arrangers and JLMs BofA, BNP Paribas and ING. Roadshow calls are available from this afternoon and pricing is expected next week.
TREVA Equipment Finance 2024-1
7 June 2024
ABS Markets Daily - 6 June 2024
*Europe silent *Solaris launches
Primary
Europe/UK
No new issuance activity again today due to Global ABS.The visible European new issue pipeline currently looks like this:
6 June 2024
ABS Markets Daily - 5 June 2024
*Europe silent *AFG announces *Brighte Green launches
Primary
Europe/UK
No new issuance activity today due to Global ABS.The visible European new issue pipeline currently looks like this:
5 June 2024
ABS Markets Daily - 4 June 2024
*Europe Barcelona-focused *Australia back in business
Primary
Europe/UK
No new issuance activity today with the bulk of the market in Barcelona for Global ABS.The visible European new issue pipeline now looks like this:
4 June 2024
ABS Markets Daily - 3 June 2024
*Cautious demand *Another Italian mandate *Australia silent
Cautious demand
Simon Rhodes, associate partner and liquid credit content leader at Aon, identifies from his perspective as a third-party manager consultant an institutional client demand for high-quality, investment-grade and liquid ABS and MBS medium-term investments.
Rhodes observes that the main driver of this appetite is the additional spread that ABS and MBS ...
Market Moves3 June 2024
ABS Markets Monthly - May 2024 (part 2)
*May in numbers – volumes, arranger league tables, secondary spreads
May in numbers
ABS/MBS primary market
Europe/UK
All issuance
3 June 2024
ABS Markets Deal Alert - 3 June 2024 08.45 UK time
Creditis Servizi Finanziari has mandated BofA, Citi and Société Générale as co-arrangers and JLMs for Brignole CO 2024, its upcoming Italian consumer ABS transaction backed by a static portfolio of personal loans expected to refinance Brignole CO 2021.
A multi-tranche transaction is expected to follow, subject to market conditions. The transaction is expected to comply with the requirements for ...
3 June 2024
ABS Markets Daily - 31 May 2024
*One print today *Record breaking month in Europe *Italian and Australian deals announced
Primary
Europe/UK
31 May 2024
Red & Black Auto Loans France 2024 priced this afternoon to bring the total to four placed prints on the week (plus Monday’s fully retained Ginkgo Debt Conso 2024). While much quieter than last week, the final overall total for May meant ...
ABS Markets Deal Alert - 31 May 2024 16.05 UK time
STS French auto loan ABS Red & Black Auto Loans France 2024 has upsized its class A from €550m and priced as follows:
Red & Black Auto Loans France 2024
31 May 2024
ABS Markets Monthly - May 2024
Australian autos outperform
May was another active month for Australian auto ABS new issuance and the extension of a trend seen since the start of last year. Expectations are that the sector will continue to outperform in both volume and relative value terms.
According to a recent report from BofA global research strategists, auto ABS primary issuance ...
31 May 2024