Trade Matrix: Barclays -- ABS

May 02, 2003, 12:00 a.m. EDT 1 Min Read

New supply of credit card ABS market was strong in April and insatiable investor demand caused spreads to grind tighter. Analysts see good value in the subordinate single-A and triple-B rated classes from benchmark credit card issuers, as the expected deterioration in credit card asset quality has slowed and stabilized. Yield hungry, cash rich investors have re-entered the market and demand for subordinate ABS classes has increased significantly.

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TRENDING

Esoteric ABS

Tax liens secure $184.8 million from Alterna Funding

The current portfolio is secured by tax liens from municipalities in eight states and Washington, D.C., that have a redemption value, or the approximate value of the outstanding liens, of about $119.6 million with an original lien rate of 12.2%.

By Donna M. Mitchell

2h ago
Esoteric ABS

Nothing Bundt Cakes in its third ABS, raising $240 million

The deal includes subordination in the form of class B notes, a rarity for whole business securitization deals.

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6h ago
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When the Trump tax cuts expire next year, the White House will ask for higher corporate taxes and a buyback tax as Congress enters one of its biggest economic fights of the decade, which will have major implications for bankers.

By Claire Williams

9h ago

MORE FROM ASSET SECURITIZATION REPORT

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