A pool of credit card receives issued by Group BPCEs Natixis Financement unit are being securitized in the second-ever issuance through the Purple Master Credit Cards, FCT in France. The 651 million transaction mostly consists of 550 million in a Class A2016-1 series of notes.
The £138 million deal, dubbed Marketplace Originated Consumer Assets 2016-1, will issue five tranches of notes, four of them with preliminary ratings from Moody's Investors Service.
E-Carat S.A., Compartment 9 is comprised of two series of rated notes of undetermined size, backed by a pool of 513.5 million in loans.
KBRA has been certified by the European Securities Markets Authority since March 2013 and is the process of establishing a regulated European subsidiary.
Ford Motor Co. is securitizing its second round of German auto loans this year in a 541.7 million pool of both private and commercial borrower receivables tied to significant balloon payments.
A nascent private bond market in France is expected to grow significantly over the next two years, and could complement, or possibly compete with, securitization of loans to small and medium-sized enterprises.
A policy fight is threatening the recovery of collateralized loan obligations in Europe.
European collateralized loan obligations issued pre-financial crisis are nearing the end of their reinvestment periods, yet the maturities of the loans that serve as collateral continue to shift further out into the future.
The latest generation of European CLOs may expose investors to a risk that didnt exist in most collateralized loan obligations issued before the financial crisis: fluctuations in foreign exchange rates.
With Global ABS around the corner, its only fitting that we turn our attention to Europe.
Treasurer, Head of Asset Management
Firm: NewStar Financial
The $1.17 billion deal follows a year’s worth of management deliberations over issuing asset-backeds, which Verizon expects to lower the cost of financing device payment-plan agreements.The deal will also ease pressure on the carrier's own corporate credit ratings.Current Issue