Europe

A mix of esoteric lease receivables from real estate, equipment and auto transport assets is being securitized through a €1.03 billion notes offering from Alba Leasing, an Italian corporate credit finance firm.

Duke Energy Florida's $1.3 billion utility fee securitization sets an important precedent.

A spring survey of European asset-backed portfolio managers shows a vast majority expects to increase their securitization holdings in 2016. But many see a “muted level” of issuance in which to add securities, according to the DBRS polling.

EU Parliament member Paul Tang shocked the region’s securitization industry last week when he proposed increasing the amount of “skin in the game” for asset-backeds, by four-fold, to 20% from 5%. He's giving the keynote at IMN's Global ABS conference

Growth in air travel is slowing, but investors are still snapping up bonds backed by leases on passenger jets.

Although European CLO issuance picked up in March following new central bank quantitative easing efforts, volume still finished the first quarter with a 42% decline from the same period a year ago, according to Moody’s Investors Service.

GREEN STORM 2016 B.V., a €271.3M RMBS in The Netherlands, is the first-ever securitization of homes pooled together specifically for their energy-efficiency rating, according to Moody's.

BPCE Group, France’s second-largest bank, is pooling together €5 billion (U.S.$5.6 billion) worth of personal consumer loans into a securitization portfolio, including a mix of auto, cash, home improvement and debt consolidation loans.

Speaking at IMN’s 5th annual conference on leveraged loans and collateralized loan obligations, LSTA executive Meredith Coffey and SFIG executive director Richard Johns each gave sobering assessments of the inevitable, and possibly debilitating, arrival of new capital ratio and risk retention standards to CLOs and other ABS deals.

There’s a real downside to extremely low or even negative interest rates. Existing CLOs may not earn enough from their euro-denominated assets to pay the interest on the notes they issue.