Emerging Markets


Turkey Completes a Second Cat Bond for $100M

The deal, which is unrated, provides three years of protection, on a per occurrence basis, for earthquakes affecting the Istanbul region. It pays more than the inaugural deal, completed in 2013, which is rated by Standard & Poor's.

Nissan Unit Preps $242M-Equivalent Chinese Auto ABS

While the collateral behind the CNY1.5 billion ($242 million) deal is well cushioned against default — borrowers on average put down 65% of the vehicle's value — there is no back-up servicer.

Volkswagen Prices 2nd China Auto ABS for RMB1.89 billion

The RMB1.66 billion ($267.6 million) of class A notes are rated ‘A’ by Moody’s and ‘AA’ by Fitch; they pay a fixed rate of 3.8%.

Moody's: Chinese CLOs Would Benefit from Bourse Listing

No Chinese collateralized loan obligation has been listed on a securities exchange. Moody's says it's a good idea though panicked equity investors in Shenzhen and Shanghai probably have other things on their mind right now.

Argentina Still Holds Clues to Grexit Securitization Fallout

If you want to know what a Greek exit from the euro would do to the €16.64 billion ($18.54 billion) of bonds out there backed by Greek assets, start with Argentina.



Ratings Disagreements Head to Mexico

Controversy over the Mexican equipment lease sector

After Crash, Brazilian ABS Poised to Recover

After contracting sharply last year amid regulatory uncertainty and an economic slowdown, Brazil’s structured finance market now appears to be poised for a recovery.

New Blood Revives Russian RMBS

Five new originators of Russian RMBS debuted last year; players say the issuer stable will keep growing.

Fitch: Securitization Investors Span the Globe

Investors no longer feel limited to their own country for securitization investment opportunities; they are becoming comfortable with the risks and rewards of investing in and owning a global book.


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How Solar Securitization is Clearing the Tax Hurdle

Tax credits complicate the solar industry’s ability to attract capital markets investors. Here’s what’s being done about it.

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