The transaction is backed by a provisional pool of £153.12 million ($245 million) of buy-to-let mortgages originated between July and September 2014. Paragon will add additional mortgages to the pool before closing.
LeasePlan Nederland N.V. plans to sell 537 million ($684 million) of securities backed by Dutch auto lease installment receivables and residual value cash flows.
Lewtan will become part of Moodys Analytics structured analytics and valuations business, which provides an extensive data and analytics library for securitized assets.
Private Driver 2014-4 UG will issue 691M ($883M) of AAA rated securities and 22.8 million of A+ securities.
The company plans to market the bonds to European investors and will hold onto 5% of the first loss tranche to comply with European risk retention requirements.
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.
Vice President of Regulatory Compliance
Firm: Clayton Holdings
In the news: How Ability-to-Repay Rules Could Reshape RMBS Market
Which opinion is more reliable: A well-informed one tainted by financial arrangements or one free of such conflicts but based on limited data — and possibly colored by spite?Current Issue