Finance

SeaCube Containers plans to issue a $300 million container lease ABS deal called CLI Funding V LLC (Series 2013-2).

Kroll Bond Rating Agency (KBRA) has assigned preliminary ratings to the JP Morgan/Barclays’ $1.34 billion CMBS conduit, JPMBB 2013-C12.

Covered bonds backed by loans to small and medium-sized enterprises have gained traction in Europe as and alternative to bank financing and other debt instruments, according to Moody's Investors Service.

The Securities and Exchange Commission approved a plan to overhaul regulation of money market funds, which are some of the biggest buyers of asset-backed commercial paper.

American Money Management Corp.’s latest collateralized loan obligation includes a $240 million delayed draw tranche, according to Fitch Ratings.

GLG Ore Hill and Anchorage Capital are each planning a $400 million collateralized loan obligation.

Standard & Poor’s said today that Raith Capital is set to become a more active buyer of B-piece paper in CMBS deals.

Delinquencies on commercial mortgages that back securities inched up in May as resolutions fell, according to Trepp.

The Pennsylvania Higher Education Assistance Agency is prepping a $583 million securitization of Federal Family Education Loan Program loans, according to Standard & Poor’s.

PHH Corp. is in the market with a $450 million auto lease-backed securitization called Chesapeake Funding LLC, Series 2013-1 – its debut deal for 2013.

The Carlyle Group priced a 300 million collateralized loan obligation, demonstrating that regulatory concerns haven't shut the European pipeline down.

Moody's Investors Service thinks Sallie Mae's planned split is "credtit negative" for private student loan backed securities.

Mortgage modifications led to more than $1 billion of unexpected retroactive losses on 170 US RMBS, which are credit negative for these deals, according to Moody’s Investors Service.

Standard & Poor’s assigned preliminary ratings to the new auto loan receivables originated by Santander Consumer (UK), called Motor 2013-1 PLC.

HSBC and Lloyds TSB are arranging a £380 million ($580 million) CMBS that is backed by UK student housing, according to a Standard & Poor’s presale report.

View the year-to-date manager rankings through May 24 for the different ABS sectors, including real estate, credit cards and autos.

The commercial mortgage-backed securities market’s near miraculous turn around and the bonds’ plunging spreads, as well as indications of deteriorating credit quality, suggest buyers should beware.

In late April, the Turkish Catastrophe Insurance Pool issued its first catastrophe bond; conditions would seem are ripe for other emerging markets to follow suit.

Llyods TSB proceeded with a portion of its $8.7 billion of legacy non-agency RMBS paper on Thursday afternoon, selling the paper to four different groups.