Santander Consumer Bank plans a 600 million securitization of German auto loans dubbed SC Germany Auto 2014-1 UG.
Aegon Nederland N.V. plans to issue Dutch RMBS via its SAECURE series. Sizing on the deal, SAECURE 14 will depend on investor interest and has not yet been determined.
Despite being rated 'Caa1' by Moody's, the deal from Privatbank has exhibited reasonably low delinquencies and a enormous credit enhancement for the outstanding tranches.
U.K. lender Paragon plans to issue £350 million ($483 million) of bonds backed by first-lien buy-to-let home loans.
Managers and arrangers of U.S. collateral loan obligations have struggled to satisfy the European Unions risk retention requirement. However, the final draft rules published by the European Banking Authority include a new concession that may assist U.S. managers in accessing an investor base in the region.
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.