ABS

Ygrene Energy Fund has appointed three finance veterans to manage growth, issue securitizations and support capital raises as the company expands to meet demand from institutional markets.

Lending Club hired a pair of Wall Street executives to strengthen relationships with investors after many pulled back from buying the loans it arranges online during a tumultuous second quarter.

This year federal and state regulators have started to pay closer attention to the rapidly evolving online-lending sector — particularly online small-business lending. What follows is a look at eight key players in the debate over how to regulate this emerging industry.

Lenders, realtors, and appraisers are stepping up the fight against a particular way of financing the retrofitting of homes to make them more energy efficient.

Heathrow Funding, a corporate securitization vehicle that issues bonds raising proceeds for London’s Heathrow Airport and related rail link services, is issuing £400 million (US$520 million) in new notes for the airport to repay upcoming debt maturities.

Lending Club announced the resignation of its chief financial officer while reporting an $81.4 million quarterly loss due largely to fallout from the scandal that rocked the firm in May.

The Long Island Power Authority plans to issue another $475.26 million of tax-exempt bonds backed by restructuring charges imposed on its retail electricity customers.

The specialty aircraft asset management firm, which leases mid- to end-life aircraft to airlines globally, has pieced together a $916 million portfolio of leases to 20 airlines in 17 countries in its third esoteric asset-backed transaction.

The Federal Housing Administration is promoting a particular kind of financing for residential energy retrofits that another regulator staunchly opposes. Mortgage lenders and investors have qualms, too, about the impact on their standing in collateral claims.

Marriot Vacations Worldwide plans to issue $250 million of notes backed by timeshare loans.

Blue Bridge Financial, a specialty lender that caters to manufacturers, vendors, and distributors of commercial equipment, has obtained a $40 million securitization facility from Sun Life Assurance and Securicor.

Banco Sabadell is pushing out a €1.75 billion (US$1.92 billion) securitization of small business loans through a newly established trust platform.

The subprime auto lender – a unit of the Spanish banking giant Banco Santander – initially planned to release its earnings on Wednesday, July 27. But it said in a news release that its financial statements have "not yet been completed" due to discrepancies between current and former accountants over the way it calculates its provision for credit losses. Santander Consumer did not set a new date for the results.

The City of New York is making its annual trip to the securitization market with tax liens.

Kubota Credit Corp., the finance arm of Kubota Tractor Corp., is marketing $600 million of bonds backed by loans to acquire agricultural, construction, and turf equipment.

The Federal Housing Administration released lender guidance spelling out the circumstances under which it will insure mortgages on properties encumbered by Property Assessed Clean Energy liens similar to tax assessments.

John Deere is preparing its second securitizatifon of equipment loans of 2016, according to Fitch Ratings.

Portfolio managers are expecting deteriorating credit conditions in spreads and defaults in North America and Europe this summer, as the Brexit contagion spreads around the globe. In particular, 68% of managers worldwide expect to see growing defaults in the European investment-grade space this summer.