Category: The Credebt Exchange® Story

2020-M01 ETR Briefing

Investabill ETR® are fixed value Exchange Traded Receivables that are leases, monetary obligations or bills issued under contract for assets, goods and services supplied to investment quality† companies, or credit insured invoices from Investment Grade [IG] insurers. As at M01, Credebt Exchange® held Active RSA of EUR 32.78m, with EUR 23.90m fully allocated. Investors redeemed EUR 0.20m in the period and trading for M01 was EUR 8.85m+ with all ETR utilised.

Treasury performance at EUR 7.14m of settled ETR was almost at parity for the month. This balance can be attributed to an overall levelling of trade as we enter the New Year.

Performance

2020-M01 v 2019-M01 showed an increase in trade volume of 13.31% and also a substantial trade value increase of 35.37%. This is a good start to a new decade and can be attributed to the 2020 plan proving its results. The Credebt® Index of 109 makes a favourable market for the Exchange. Total creditors & debtors were c.6.0k. The largest single trade was EUR 0.38m

Trend

Yield average increased to c.1.934% in the month starting at 1.940% and ending on 1.958%. This stabilised price is expected to increase in Q2/Q3 in line with Originator supply. The increases in the Credebt® Index and in supply from Originators should see this figure remain constant until later in the year. Available RPA capacity was EUR 32.78m+

2020-M01 ETR Briefing Trade Credebt

2020-M01 ETR Briefing

† Investment quality is a combination of Investment Grade [IG] organisations & other credit worthy organisations, as determined by AIG and other credit rating providers, from time to time

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2019-M12 ETR Briefing

Investabill ETR® are fixed value Exchange Traded Receivables Receivables that are leases, monetary obligations or bills issued under contract for assets, goods and services supplied to investment quality† companies, or credit insured invoices from Investment Grade [IG] insurers. As at M12, Credebt Exchange® held Active RSA of EUR 32.13m, with EUR 31.96m fully allocated. Investors redeemed EUR 0.56m in the period and trading for M12 was EUR 11.82m+ with all ETR utilised.

Treasury performance at EUR 6.80m of settled ETR was still below the trade value for the month. Seasonality and new Originators are the primary reason for the wide variance.

Performance

2019-M12 v 2018-M12 showed a decline in trade volume of -50.57% but with a substantial trade value increase easing of 39.49%. This reversal of fortune can be attributed to the 2020 plan beginning to show results. The Credebt® Index of 112 makes a favourable market for the Exchange. Y/E total trade was c.EUR 100.88m. Total creditors & debtors were c.5.4k. The largest single trade was EUR 0.96m

Trend

Yield average increased to c.1.940% in the month starting at 1.924% and ending on 1.927%. A decisive Brexit has helped stabilise the price. The increases in the Credebt® Index and in demand from Originators should see this figure stabilise at c.1.900% – 2.000% as the Year closes and the 2020 plan unfolds. Available active RPA capacity was EUR 32.13m+

2019-M12 ETR Briefing Trade Credebt

2019-M12 ETR Briefing

† Investment quality is a combination of Investment Grade [IG] organisations & other credit worthy organisations, as determined by AIG and other credit rating providers, from time to time

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2019-M11 ETR Briefing

Investabill ETR® are fixed value Exchange Traded Receivables that are leases, monetary obligations or bills issued under contract for assets, goods and services supplied to investment quality† companies, or credit insured invoices from Investment Grade [IG] insurers. As at M11, Credebt Exchange® held Active RSA of EUR 31.14m, with EUR 23.20m fully allocated. Investors redeemed EUR 1.25m in the period and trading for M11 was EUR 7.90m+ with all ETR utilised.

Treasury performance at EUR 6.16m of settled ETR was unusually below the trade value for the month. It is expected that Collections will finish out the Year slightly higher.

Performance

2019-M11 v 2018-M11 showed a repeat decline in trade volume of -40.09% with the trade value decrease easing further to -19.55%. SME access to trade credit continues to be a negative factor. The Credebt® Index of 109 makes a favourable market for the Exchange for the remainder of Q4 and this is expected to increase substantially in 2020. Year to date Trade was c.EUR 88.09m. Total creditors & debtors were c.5.4k. The largest single trade was EUR 0.68m

Trend

Yield averaged c.1.920% in the month starting at 1.902% and ending on 1.926%. Brexit looming, the increase in the Credebt® Index and lack of demand from Originators are all contributing factors. Driven by supply and demand economics, the yield level will most likely remain at this sub-2.000% level until Y/E. Available active RPA capacity was EUR 31.14m+

2019-M11 ETR Briefing Trade Credebt

2019-M11 ETR Briefing

† Investment quality is a combination of Investment Grade [IG] organisations & other credit worthy organisations, as determined by AIG and other credit rating providers, from time to time

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2019-M08 ETR Briefing

Investabill ETR® are fixed value Exchange Traded Receivables that are loans or bills issued under contract for goods and services supplied to investment quality† companies, or credit insured invoices from Investment Grade [IG] insurers. As at M08, Credebt Exchange® held Active RSA of EUR 23.17m, with EUR 25.82m allocated. Investors redeemed EUR 0.28m in the period and trading for M08 was EUR 6.65m+ with all available ETR utilised.

Treasury performance at EUR 5.02m of settled ETR was marginally below the trade value for the month. Seasonality affected both trade and collections in the period.

Performance

2019-M08 v 2018-M08 showed a continued decrease in trade volume of 43.93% with a significant drop in trade value of more than 18.35% in the month. As the availability of SME trade credit continues to increase, the overall year-on-year decrease for the Exchange showed c.EUR 65.08 traded year to date. This sharp decline for 2019-M08 is also as a result of seasonality. Total creditors & debtors were c.5.3k. The largest single trade was EUR 0.20m

Trend

Yield continued the downward trend from July with the period ending at a new annual low of 1.917%. This is driven by seasonality and deepening market concerns on Brexit. The yield decrease is predicted to drop even further in H2 as the supply v demand imbalance continues. Available active RPA capacity was EUR 23.17m+

2019-M08 ETR Briefing Trade Credebt

2019-M08 ETR Briefing

† Investment quality is a combination of Investment Grade [IG] organisations & other credit worthy organisations, as determined by AIG and other credit rating providers, from time to time

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2019-M07 ETR Briefing

Investabill ETR® are fixed value Exchange Traded Receivables that are loans or bills issued under contract for goods and services supplied to investment quality† companies, or credit insured invoices from Investment Grade [IG] insurers. As at M07, Credebt Exchange® held Active RSA of EUR 32.92m, with EUR 22.43m allocated. Investors redeemed EUR 1.31m in the period and trading for M07 was EUR 9.93m+ with all available ETR utilised.

Treasury performance at EUR 6.52m of settled ETR was significantly below the trade value for the month. Unstable trading in the month over shadowed repayments.

Performance

2019-M07 v 2018-M07 showed a decrease in trade volume of 9.29% with a significant drop in trade value of more than 33.87% in the month. Total trade for the year was EUR 54.60m showing an overall year-on-year decrease for the Exchange of c.16.84%. Trading for 2019-M07 showed an overall stagnant, to declining, position for the year to date. Total creditors & debtors were 5.2k+. The largest single value trade was in July with a value of EUR 0.45m

Trend

Yield remained generally stable for the period at 2.021% to 2.076% in the month with a sharp decrease at month end. This is driven by seasonality and continued market concerns on Brexit. The yield decrease is predicted to drop further in H2 as the supply v demand imbalance widens. Available active RPA capacity was EUR 32.92m+

2019-M07 ETR Briefing Trade Credebt

2019-M07 ETR Briefing

† Investment quality is a combination of Investment Grade [IG] organisations & other credit worthy organisations, as determined by AIG and other credit rating providers, from time to time

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2019-M05 ETR Briefing

Investabill ETR® are fixed value Exchange Traded Receivables that are loans or bills issued under contract for goods and services supplied to investment quality† companies, or credit insured invoices from Investment Grade [IG] insurers. As at M05, Credebt Exchange® held Active RSA of EUR 51.16m, with EUR 22.28m allocated. Investors redeemed EUR 0.48m in the period and trading for M05 was down 31.31% at c.EUR 8.66m with all ETR utilised.

Treasury performance was EUR 12.44m of settled ETR and was significantly higher than the trade value for the month. Trading in the month was less than demand and collections.

Performance

2019-M05 v 2018-M05 continued to show an increase in trade volume of 35.07% and a continued decline in the trade value that was down by 31.31%, year-on-year. Total trade for the year-to-date was EUR 37.77m showing a decrease of 6.49% for the Exchange. Trading ended down showing a year-on-year decline to date. Total creditors & debtors were c.5.1k. Highest single value trade was EUR 0.32m. Total trade for the Year was EUR 37.77m

Trend

Yield decline continued for the period starting at 2.167% and ending the month at 2.095%. This overall narrow spread remains driven by the decline in supply v demand as the year progresses. The Branch Network initiative has not performed as projected and is being monitored closely. Active RPA capacity declined by 39.63% to EUR 51.16m+

2019-M05 ETR Briefing Trade Credebt

2019-M05 ETR Briefing

† Investment quality is a combination of Investment Grade [IG] organisations & other credit worthy organisations, as determined by AIG and other credit rating providers, from time to time

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2019-M04 ETR Briefing

Investabill ETR® are fixed value Exchange Traded Receivables that are loans or bills issued under contract for goods and services supplied to investment quality† companies, or credit insured invoices from Investment Grade [IG] insurers. As at M04, Credebt Exchange® held Active RSA of EUR 66.58m, with EUR 20.63m allocated. Investors redeemed EUR 0.18m in the period and trading for M04 was c.EUR 7.62m with all available ETR utilised.

Treasury performance at EUR 7.05m of settled ETR was again on par with the trade value for the month. Stabilised trading in the month was equal to demand and repayments.

Performance

2019-M04 v 2018-M04 continued to show an increase in trade volume of 20.67% and a continued decline in the trade value that was down by 13.41%, year-on-year. Total trade for the year-to-date was EUR 29.12m showing an increase of 4.76% for the Exchange. Trading ended up showing year-on-year growth to date. Total creditors & debtors were 5.0k+. Highest single value trade was EUR 0.20m. Total trade for the Year was EUR 29.12m

Trend

Yield decline slightly for the period starting at 2.175% and ending the month at 2.154%. This overall narrow spread remains driven by the stabilised supply v demand as the year progresses. The Branch Network initiative has removed one Local Branches with new opening postponed to Q4. Available Active RPA capacity was EUR 74.53m+

2019-M04 ETR Briefing Trade Credebt

2019-M04 ETR Briefing

† Investment quality is a combination of Investment Grade [IG] organisations & other credit worthy organisations, as determined by AIG and other credit rating providers, from time to time

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2018-M12 ETR Briefing

Investabill ETR® are fixed value Exchange Traded Receivables that are loans or bills issued under contract for goods and services supplied to investment quality† companies, or credit insured invoices from Investment Grade [IG] insurers. As at Y/E, Credebt Exchange® held Active RSA of EUR 79.21m, with EUR 20.63m allocated. Investors redeemed EUR 0.86m in the period and trading for M12 was EUR 8.62m+ with all available ETR utilised.

Treasury performance at EUR 7.96m of settled ETR was in line with the trade value for the month. Stabilised trading during the month roughly equalled demand and repayments.

Performance

2018-M12 v 2017-M12 continued its significant increase in trade volume by 116.52% with a return to significant improvement in the trade value up by 31.55%, year-on-year. Total trade for the Year was EUR 126.27m showing annual growth for the Exchange of 22.59%. Trading ended with moderate, to strong, growth for the year. Total creditors & debtors were c.5.0k. Highest single value trade was EUR 0.43m. Total trade for the Year was EUR 126.27m

Trend

Yield remained stable for the period at 2.046% to 2.086% in the month. This narrow spread continues to be driven by the stabilised supply v demand as the year ended. The Branch Network initiative has appointed two Local Branches with new opening announcements expected in 2019. Available Active RPA capacity was EUR 79.21m+

2018-M12 ETR Briefing Trade Credebt

2018-M12 ETR Briefing

† Investment quality is a combination of Investment Grade [IG] organisations & other credit worthy organisations, as determined by AIG and other credit rating providers, from time to time

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2018-M09 ETR Briefing

Investabill ETR® are fixed value Exchange Traded Receivables Receivables that are loans or bills issued under contract for goods and services supplied to investment quality† companies, or credit insured invoices from Investment Grade [IG] insurers. As at M09, Credebt Exchange® held Active RSA of EUR 93.40m, with EUR 23.74m allocated. Investors redeemed EUR 0.84m in the period and trading for M08 was EUR 10.20m+ with all available ETR were utilised.

Treasury performance at EUR 7.79m of settled ETR was still below the trade value for the month. This was due to continued strong Originator trading versus settled trades.

Performance

2018-M09 v 2017-M09 continues its significant increase in trade volume of 43.39% with a marginal improvement in trade value of 3.39%, year-on-year. Total trade of EUR 10.20m for M09 improved overall growth for the year by 12.51%. Trading continues to show a moderate growth for the year. Total creditors & debtors were c.4.8k. Highest single value trade was EUR 0.42m. Total trade for the Year increased to EUR 94.20m+

Trend

Yield remained stable for the period at 2.043% to 2.080% in the month. This narrow spread continues to be driven by the stabilised supply v demand as the year matures. The Branch Network initiative short-listed 4 candidates with some new opening announcements expected in M10. Available Active RPA capacity was 93.40m+

2018-M09 ETR Briefing Trade Credebt

2018-M09 ETR Briefing

† Investment quality is a combination of Investment Grade [IG] organisations & other credit worthy organisations, as determined by AIG and other credit rating providers, from time to time

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2018-M07 ETR Briefing

Investabill ETR® are fixed value Exchange Traded Receivables that are loans or bills issued under contract for goods and services supplied to investment quality† companies, or credit insured invoices from Investment Grade [IG] insurers. As at M07, Credebt Exchange® held Active RSA of EUR 91.9m, with EUR 22.89m allocated. Investors redeemed EUR 1.14m in the period and trading for M07 was EUR 15.67m+ with all available ETR were utilised.

Treasury performance at EUR 9.85m of settled ETR was well below the trade volumes for the month. This was due to good, heavy Originator trading compared to settled trades.

Performance

2018-M07 v 2017-M07 spiked with a significant increase in trade volume of 30.44% with a strong upward swing of 81.00% in trade value, year-on-year. Total trade of EUR 15.29m for M07 improved overall growth for the year of 19.65%. Trading showed moderate to strong growth for the year. Total creditors & debtors were c.4.7k in the month. Highest single value trade was EUR 1.60m. Total Active RSA in the month increased 14.59% to EUR 91.9m+

Trend

Yield fluctuated between 2.069% and 2.098% in the month. This narrow spread is driven by the continued stabilisation in supply v demand as the year develops. The recent Branch Network initiative expects to see appointments in this quarter/Q3 with opening announcements expected in M08/M09. Available Active RPA capacity was 91.9m+

2018-M07 ETR Briefing Trade Credebt

2018-M07 ETR Briefing

† Investment quality is a combination of Investment Grade [IG] organisations & other credit worthy organisations, as determined by AIG and other credit rating providers, from time to time

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