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 - 31 August 2023
*Holmes prices *Five European deals announced *Australia silent
Primary
Europe/UK
A frenetic day in Europe with one deal pricing – Holmes Master Issuer 2023-2 – clarification on another – Together Asset Backed Securitisation 2023-1ST2 – and five new deals announced. As a result, the European visible new issue pipeline currently looks like this:31 August 2023
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ABS Markets Deal Alert - 31 August 2023 15.15 UK time
LeasePlan is in the market with its latest STS auto lease ABS – Bumper NL 2023-1. Arranger and issuer LeasePlan is joined by joint lead managers BNP Paribas, HSBC and Société Générale. The issuer is available for calls on 1, 4 and 5 September, with pricing expected next week.
Bumper NL 2023-1
31 August 2023
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ABS Markets Deal Alert - 31 August 2023 14.40 UK time
Banco Cetelem, which is a 100% owned subsidiary of BNP Paribas Personal Finance, has announced that it has mandated BNP Paribas as sole arranger and lead manager on its upcoming public securitisation of Spanish auto loans, AutoNoria Spain 2023.
Banco Cetelem says: “Following a series of investor meetings across Europe and the UK, a full cap-stack transaction offering ...
31 August 2023
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ABS Markets Deal Alert - 31 August 2023 14.30 UK time
STS UK RMBS Holmes Master Issuer 2023-2 has priced as follows:
Holmes Master Issuer 2023-2
31 August 2023
ABS Markets Deal Alert - 31 August 2023 12.00 UK time
Vasco Finance No. 1 a Portuguese credit card ABS from WiZink Bank has begun marketing via sole arranger and lead Société Générale. The issuer is available for virtual meetings/conference calls from 5 September and pricing is expected the week commencing 11 September.
Vasco Finance No. 1
31 August 2023
ABS Markets Monthly - August 2023
August in numbers
Primary market
Europe/UK
The month was typically quiet for the height of summer, while overall volumes took a notable dip on the previous month, the year-on-year comparison showed no major change of pattern.All issuance
31 August 2023
ABS Markets Deal Alert - 31 August 2023 11.30 UK time
ING is in the market with Green Lion 2023-1 an STS Dutch RMBS backed by loans on energy-efficient buildings, which complies with ICMA’s green bond principles. Arranger and issuer ING is joined as joint lead manager by CA-CIB and Santander. The issuer is available for virtual meetings/conference calls from today and pricing is expected next week.
Green Lion 2023-1
31 August 2023
ABS Markets Deal Alert - 31 August 11.00 UK time
Further details have emerged on Together’s latest UK non-conforming RMBS – Together Asset Backed Securitisation 2023-1ST2 – since those reported yesterday. Pricing is targeted for next week via arranger Lloyds alongside JLMs Barclays, MUFG and Wells Fargo.
Together Asset Backed Securitisation 2023-1ST2
31 August 2023
ABS Markets Deal Alert - 31 August 2023 09.15 UK time
The latest STS UK prime RMBS from Principality Building Society has begun marketing – Friary No.8 – via arrangers and JLMs HSBC and Santander. The issuer is available for virtual meetings/conference calls from today and pricing is expected next week.
Friary No.8
31 August 2023
ABS Markets Daily - 30 August 2023
Primary
Europe/UK
A quieter day today with only guidance released earlier on Holmes Master Issuer 2023-2 and rating agency pre-sales published for non-conforming RMBS Together Asset Backed Securitisation 2023-1ST2, which is yet to commence public marketing via Lloyds.The limited details known so far on the latter deal are as follows:
Together Asset Backed Securitisation 2023-1ST2
30 August 2023
ABS Markets Deal Alert - 30 August 2023 14.00 UK time
Guidance has been released for STS UK RMBS Holmes Master Issuer 2023-2 with pricing still targeted for tomorrow, 31 August.
Holmes Master Issuer 2023-2
30 August 2023
ABS Markets Daily - 29 August 2023
*Europe back to life *One Australian deal prices *Another upsized
Primary
Europe/UK
The European and UK ABS/MBS market came back to life after the summer lull today, with two deals now formally launched and a few details emerging on a third – Volkswagen Leasing’s latest, VCL 40. Full marketing of which is expected to begin in the next few days.29 August 2023
ABS Markets Deal Alert - 29 August 2023 09.20 UK time
A new STS UK RMBS from Santander’s Holmes platform has been announced alongside initial price talk and the expectation of pricing this Thursday, 31 August. Santander is acting as arranger and is joined as a JLM by Barclays, BofA, Deutsche Bank and Lloyds.
Holmes Master Issuer 2023-2
29 August 2023
ABS Markets Deal Alert - 29 August 2023 08.30 UK time
The latest STS auto loan ABS from Bank Deutsches Kraftfahrzeuggewerbe's (BDK) platform has begun marketing via sole arranger and lead manager Société Générale – Red & Black Auto Germany 10.
BDK is available for investor calls from today and pricing is expected next week.
Red & Black Auto Germany 10
29 August 2023
ABS Markets Daily - 25 August 2023
*Hemispherical divergence *Strong Australian pipeline
Primary
There was no activity today in international ABS primary. A situation in keeping with the previous three sessions in the northern hemisphere, but out of step with the southern hemisphere’s week.In Europe and the UK one deal priced during the week – Avon Finance No.3, which was preplaced on Monday. ...
25 August 2023
ABS Markets Daily - 24 August 2023
*Two Australian deals price *One seeks interest *Two more begin marketing
Primary market
Australia
Prime RMBS Firstmac Mortgage Funding Trust No.4 2023-1 priced as follows:Firstmac Mortgage Funding Trust No.4 2023-1
Market Moves24 August 2023
ABS Markets Daily - 23 August 2023
*Australia active again *two pricings *three updates *one closing
Primary market
As Europe continues its summer slumber, it was another active late winter day in the Australian primary ABS/MBS market with updates on six deals. Including, as expected, two pricing, as follows:
23 August 2023
ABS Markets Daily - 22 August 2023
*Avon refi preplaced *Australian deals update *New Pepper mandate
Primary market
Europe/UK
22 August 2023
The European ABS/MBS market saw its first activity in nearly two weeks, with the preplacement of Avon Finance No.3 via Barclays. The deal is a refinancing of Avon Finance No.1, which was subject to a redemption notice yesterday (ABS Markets Daily - 21 August 2023), itself a refinancing ...
ABS Markets Daily - 21 August 2023
*Australian deals launch *European secondary ticks on *CMBS stays in focus
Primary market
Australia
Two deals were launched and updated today. Both are scheduled to price on Wednesday.Brighte Green Trust 2023-1 launched with initial coverage on its three available tranches of 1.0x on the A-C notes (including A$55m JLM interest), 1.1x on A-NC (including A$5m JLM interest) ...
21 August 2023
ABS Markets Daily - 17 August 2023
Primary
It was a quieter day all round today, though, as expected, Australian auto and equipment ABS Pepper SPARKZ Trust No.7 did price:
Pepper SPARKZ Trust No.7
17 August 2023
ABS Markets Daily - 16 August 2023
Primary
Another quiet day in Europe, but an active one in Australia again, with one deal pricing and three others updated.
Avanti AU Auto ABS Trust 2023-1 priced as follows:
Avanti AU Auto ABS Trust 2023-1
16 August 2023