European ABS starts hard march to recovery with GMAC mortgages
The European securitisation market achieved a tentative reopening this week, after nearly three months of silence, as GMAC RFC priced a Eu703m securitisation of its Dutch non-conforming mortgages.
Since early August the market has been through what is probably the worst period in its history. A serene landscape in which deals of up to £7bn were placed easily at tight spreads was ruined by a global aversion to structured finance.
GMACs deal is the first step
Please take a trial or subscribe to access this content.
Contact our subscriptions team to discuss your access: firstname.lastname@example.org
To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: email@example.com or find out more online here.