European Securitization
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German auto giant's marker has saved the euro ABS market from price uncertainty -
Firm aims to earn illiquidity premium by aggregating smaller portfolios into public deals
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Waterfall also heard selling down Funding Circle mezz as tone improves
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George Smith and Tom Hall discuss securitizing sunlight and how ABS issuers and CLO managers are using calmer macro conditions
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Fund will deploy a range of investment strategies ‘so as not to limit its potential universe’
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Santander tightens guidance as order book builds
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Loan extended for three years with a 20bp margin increase
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Santander also sets IPTs as deal activity picks up after Mercedes' pre-Easter benchmark
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ABS primary slows down, but George Smith and Tom Hall discuss one issuer bucking the trend and whether secondary selling has been orderly
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Power purchase agreements and related revenue will back novel warehouse deal
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Primary still alive but Mercedes trade makes clear that higher spreads are required while some avoid public markets
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BWICs spike and spreads widen but market remains constructive
