April Big Month for ABS Issuance

According to a recent Fitch research note, ABS issuance in April was $22 billion, bringing year-to-date (YTD) volume 35 percent above the 2016 level.

Of that $22 billion in issuance, auto-related issuance was $7 billion, while equipment issuers recorded their most active month YTD at $3 billion. The credit card ABS market was also robust, accounting for $7 billion in volume, bringing its YTD total to $22 billion, which according to Fitch "is responsible for much of the year over year ABS increase, as by this time last year only $5 billion had priced!"

In addition, non-traditional ABS also saw robust activity, with a trio of PACE deals, an aircraft offering, a container deal, an insurance premium ABS, a solar deal, and others.

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