Anil is responsible for the structured finance section of IFR, providing coverage for the real-time IFR Markets news service as well as the IFR Magazine. He re-joined Thomson Reuters IFR in May 2011 after spending seven years on Informa Global Markets’ real-time European ABS product. Anil’s initial stint at Thomson Reuters began in 1997 on a two-year graduate trainee scheme, followed by four and a half years at IFR reporting on medium term notes/commercial paper and structured finance.
Pricing indications are out across a selection of transactions. Penarth Master Issuer 2015-1, the credit card ABS pooling receivables originated by Bank of Scotland and Lloyds Bank, is starting at one-month Libor plus 40bp for the 1.99-year USD tranche and 50bp for the 4.99-year GBP. Lloyds is sole arranger, sole lead on the GBP and joint lead with Citigroup on the USD. Pricing is expected on Thursday.
Quarzo CQS, the new Italian consumer loan ABS from Compass SpA subsidiary Futuro SpA, is expected to be Wednesday’s business. Joint leads ABN Amro, CA CIB, Mediobanca and Santander GBM completed roadshows mid last week, but waited for the new week to go out with price thoughts.
This week should prove to be another busy one for the European ABS market, with six deals currently live.