JPMorgan Chase, HSBC Holdings and Credit Agricole were fined a total of 485.5 million euros ($521 million) for rigging the Euribor benchmark as European Union antitrust regulators wrapped up a five-year investigation into the scandal.
An £821.7 million pool of higher-risk problem UK residential mortgage loans originated by GE Home Money Lending and other GEHML-affiliated is being pooled into in a new Towd Point Mortgage Trust asset-backed offering arranged through Credit Suisse.
Freddie Mac plans to delist its debt securities, mortgage securities and STACR debt from the Luxembourg and Irish Stock Exchanges due to difficulty of complying with European Union regulation designed to prohibit insider trading.
Motor 2016-1 PLC is a pooling of 95,077 standard UK consumer conditional sale agreements totaling £647.5 million, structured in a six-class bond structure that includes AAA-rated senior notes, according to a presale report from Standard & Poors. The tranche sizes of the notes are to be determined.
Deals from MJX, Voya, Arrowpoint and Palmer Square pushed November volume to $13.1 billion via 29 transactions (including refinancings and resets) according to JPMorgan. Credit Suisse priced the lone European deal.
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 wireless carrier, though only rated single-B, has more leeway from existing investors to enter into a transaction like this than even some investment-grade companies, according to Covenant Review.Current Issue