Structured Finance News

Fitch Sees Refinance Trouble in Rental Deals

– The high refinance risk in securitizations of single-borrower, single-family rental flows is one of the reasons Fitch Ratings has capped its rating on these transactions at ‘A.'

American Homes Preps $513M Rental Deal

– The deal is the market's ninth, and is backed by an amortizing loan.

Credit Suisse Readies 5th RMBS Deal of 2014

– Credit Suisse plans to sell $399 million of residential mortgage backed securities in its fifth securitization of 2014, bringing the bank's year-to-date issuance to $1.6 billion.

Los Angeles County Re-Starts Residential PACE

– Los Angeles County is taking steps to re-start its Property Assessed Clean Energy residential program by early 2015.

Virgin Money Plans £1.8B U.K. RMBS

– Virgin Money is returning to the market with a securitization of U.K. residential mortgage securities under its Gosforth master trust program.

Grain Returns with $196M Wireless Spectrum Lease Deal

– Proceeds from Grain Spectrum Funding II will be used to purchase five licenses from Cincinnati Bell Wireless that will then be leased to Verizon Wireless.

Santander Taps Market for Norwegian Auto Loan Receivables

– Santander Consumer Bank plans to issue €700 million ($918 million) of securities backed by Norwegian auto loan receivables under its Bilkreditt trust.

American Airlines Preps $959M EETC

– American Airlines plans to issue $956.8 million of aircraft enhanced equipment trust certificates, according to deal documents.

Credit Unions May Soon Join Ranks of Auto Securitizers

– While a proposed rule applies to several kinds of loans, Moody’s Investors Service expects that auto loans are the most likely asset to be securitized. Auto loans have been one of credit unions’ fastest growing asset class for two straight years and are the most widely offered product.

Niagara County Refinancing Tobacco Settlement Bonds

– Proceeds will refund the outstanding bonds issued in 2000, pay the cost of 2014 bond issuance and provide for additional proceeds payable to the county as holder of the residual certificate.

European Leveraged Loan Issuance at YTD Record: Dealogic

– Issuance of European syndicated corporate leveraged loans stands at record $53.7 billion for the year to date, according to Dealogic.

BlackRock Hired by ECB as ABS-Program Consultant

– The European Central Bank hired BlackRock Inc, the world’s biggest money manager, to advise on developing a program to buy asset-backed securities.

ABS Managers

– View top underwriters of publicly issued deals for the year to date through Aug. 29.

ABS Totals

– View issuance for the year to date though August 29 for ABS, RMBS and CMBS from Thomson Reuters.


– Asset backed deals that priced in the two weeks ended Aug. 29.

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Current Issue

China Auto Securitization Gears Up

As more and more Chinese gain the financial access to buy a car with a loan, lenders will look increasingly to securitization to keep origination going.

Current Issue