Many sector developments this week, including the announcement of a new Citi CHAI transaction, new credit lines from both Deutsche Bank and Fortress, and a big Equifax acquisition. Our recap of worthy quick reads is below:
- Moody’s assigns provisional ratings to Citi’s CHAI 2015-PM2 securitization of Prosper consumer loans (Moody’s, 10.8.15) Announcement of the second, rated P2P securitization transaction (~$376M) on Citi’s CHAI platform.
- Cross River Bank and Marlette Funding Close on a Joint $100 Million Securitization Transaction (Business Wire, 10.2.15) New $100M warehouse line for Cross River Bank and Marlette Funding, with Deutsche Bank as facility provider.
- Equifax Wins Veda Approval With Sweetened A$2.39 Billion Bid (Business Wire, 10.2.15) Big acquisition from Equifax, who will gain access to consumer and company credit information in Australia & New Zealand.
- Investment giant Fortress just made a big bet on online lending (Fortune, 10.5.15) A look into Zest Financial and its recent $150M credit injection from Fortress.
- Nonbanks, Tech Firms Poised to Steal Banks’ Business: McKinsey (American Banker, 10.1.15) Highlights of McKinsey’s recent 2015 Global Banking Review, with its focus on the opportunity for fintech firms to grow share in a global banking industry that earned $1T in profit last year.
- How to Smartly Invest in Shadow Banking (Barrons, 10.6.15) Concise and considered piece from an institutional investor.