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 - 19 July 2023 18.15 UK time
Hermitage 2023 has priced. It is the first UK equipment ABS to print since DLL UK Equipment Finance 2019-1 in March of that year.
Hermitage 2023
19 July 2023
ABS Markets Deal Alert - 19 July 2023 17.40 UK time
Final guidance and another book update have been released for SC Germany Consumer 2023-1, as follows:
SC Germany Consumer 2023-1
19 July 2023
ABS Markets Deal Alert - 19 July 2023 16.45 UK time
Retail Automotive CP Germany 2021 Re-offer has priced with a DM one basis point inside its originally retained level, but 3bp wider than the previous public German auto loan ABS – RevoCar 2023-1 – which printed in April.
Retail Automotive CP Germany 2021 Re-offer
19 July 2023
ABS Markets Deal Alert - 19 July 2023 12.15 UK time
The spread has been set and a book update has been released for Retail Automotive CP Germany 2021 Re-offer, as follows:
Retail Automotive CP Germany 2021 Re-offer
19 July 2023
ABS Markets Deal Alert - 19 July 2023 12.10 UK time
Guidance and a book update on a €201.857m size have been released on Irish BTL RMBS Dilosk RMBS No.7, as follows:
Dilosk RMBS No.7
19 July 2023
ABS Markets Deal Alert - 19 July 2023 12.05 UK time
Guidance and a book update have been released on a £349.113m size for UK equipment ABS Hermitage 2023, as follows:
Hermitage 2023
19 July 2023
ABS Markets Deal Alert - 19 July 2023 11.10 UK time
Guidance and a book update on an indicative €700m deal size have been released for SC Germany Consumer 2023-1, as follows:
SC Germany Consumer 2023-1
19 July 2023
ABS Markets Deal Alert - 17 July 2023 17.30 UK time
Initial price talk has been released for Retail Automotive CP Germany 2021 Re-offer, as follows:
Retail Automotive CP Germany 2021 Re-offer
17 July 2023
ABS Markets Deal Alert - 17 July 2023 13.45 UK time
Initial price talk has been released for the only publicly offered tranche of UK equipment ABS Hermitage 2023, as follows:
Hermitage 2023
17 July 2023
ABS Markets Deal Alert - 17 July 2023 12.00 UK time
Initial price talk has been released on Irish BTL RMBS Dilosk RMBS No.7, as follows:
Dilosk RMBS No.7
17 July 2023
ABS Markets Deal Alert - 17 July 2023 10.15 UK time
Initial price talk has been released on SC Germany Consumer 2023-1, as follows:
SC Germany Consumer 2023-1
17 July 2023
ABS Markets Daily - 14 July 2023
* Unexpected momentum *Five international pricings *Six more in the pipe
Unexpected momentum
With four deals pricing this week and more expected next, the UK and European ABS/MBS primary market has gathered an unexpected momentum for mid-July. The majority of focus this week centred around sterling paper, but next week’s visible pipeline offers plenty of euro-denominated deals and options ...
14 July 2023
ABS Markets Deal Alert - 14 July 2023 17.55 UK time
UK credit card ABS NewDay Partnership Funding 2023-1 has priced. All offered tranches were received healthy oversubscription levels, with the B tranche tightening significantly form initial price talk of 300a, to land SONIA+290bp. A significant £180m protected order was attached to the senior notes. Consequently, initial price talk for class A tranche was indicated precisely at plus 140bp. The most recent ...
14 July 2023
ABS Markets Deal Alert - 13 July 2023 14.00 UK time
UK RMBS Oat Hill No.3 has priced. The publicly marketed B, C and D tranches all priced within initial price talk, with the C and D notes landing at the tight end of guidance. The final result is closely in line with the most recent UK BTL RMBS, Together Asset Backed Securitisation 2023-1ST1, which was sold last month.
Oat Hill No.3
13 July 2023
ABS Markets Deal Alert - 13 July 2023 11.55 UK time
Another deal has been added to the UK and European ABS/MBS primary pipeline, with UK equipment leasing ABS Hermitage 2023. Hermitage 2023 is the first securitisation of equipment finance receivables originated by Haydock Finance.
BNP Paribas and Citi act as arrangers, joined by Lloyds as joint lead managers and Apollo as co-manager.
Haydock Finance is available for investor calls from tomorrow, with pricing ...
13 July 2023
ABS Markets Deal Alert - 13 July 2023 10.00 UK time
Guidance and a second book update for UK RMBS Oat Hill No.3 has been released, as follows:
Oat Hill No.3
13 July 2023
ABS Markets Deal Alert - 12 July 2023 14.50 UK time
UK RMBS Permanent 2023-2 has priced. The publicly marketed class 1A1 tranche was eventually upsized from £500m to £750m, tightening from initial price talk of low 50s to plus 50bp. That final level is 2bp inside their previous May deal, Permanent 2023-1.
Permanent 2023-2
12 July 2023
ABS Markets Deal Alert - 12 July 2023 14.45 UK time
Initial price talk for UK credit card ABS NewDay Funding 2023-1 has been released, as follows:
NewDay Funding 2023-1
12 July 2023
ABS Markets Deal Alert - 11 July 2023 14.55 UK time
CreditPlus Bank has mandated CA-CIB as sole lead manager for the offering of €369.3m out of the €900m of the Class A Notes issued by Retail Automotive CP Germany 2021, initially retained by CreditPlus Bank.
Investor calls start from today, with pricing expected next week.
Retail Automotive CP Germany 2021 Re-Offer
11 July 2023
ABS Markets Deal Alert - 11 July 2023 09.15 UK time
The UK and European ABS/MBS primary pipeline grows bigger with the announcement of Irish RMBS Dilosk No.7. The last deal in the series (Dilosk No.6) was sold earlier this year, at the beginning of April. Although and unlike its predecessor, Dilosk No.7 does not feature all the regulatory added attraction of STS and STS+.
BofA and Natixis act both as joint ...
11 July 2023
ABS Markets Deal Alert - 10 July 2023 15.55 UK time
A fresh mandate has been added to the UK and European ABS/MBS primary pipeline with German STS consumer ABS, SC Germany Consumer 2023-1. Santander is publicly marketing the A-D tranches, though there is the disclaimer added that €115m of the senior A tranches is protected. The last deal in the series was sold in September 2022.
Santander acts as arranger, joined by ...
10 July 2023