Securitization - Article Archive

  • CLO Retention Proposal Surprises, Confuses Market

    Collateralized loan obligation officials were caught off guard last week by federal regulators’ proposed alternative to CLO risk retention regulation, leaving some in doubt as to whether final rules will at all reflect the efforts of industry advocates and lobbyists.

    • 30 Aug 2013
  • Structured Finance Group Opposes Eminent-Domain Use

    The Structured Finance Industry Group has filed an amicus curia brief supporting a motion for a preliminary injunction filed by Wells Fargo National Association against the city of Richmond, Calif., and Mortgage Resolution Partners to stop them from using eminent domain to seize mortgage loans from private label securitization trusts.

    • 30 Aug 2013
  • Credit Union Group Sues Over MBS

    The National Credit Union Administration has filed suit in U.S. District Court in Kansas against Morgan Stanley and other firms, alleging violations of federal and state securities laws in the sale of more than $566 million in mortgage-backed securities to the U.S. Central and WesCorp corporate credit unions.

    • 30 Aug 2013
  • North American REIT Ratings To Withstand Higher Rates

    The ratings of North American real estate investment trust will likely remain stable in the wake of higher interest rates and slower growth in gross domestic product, according to Standard & Poor’s.

    • 30 Aug 2013
  • Negative Equity Rate Continues To Fall

    The number of homeowners underwater continued to fall in the second quart to roughly 12.2 million in the second quarter, down from 13 million in the first quarter and 15.3 million a year ago, according to Zillow.

    • 30 Aug 2013
  • “The game remains very much engaged.”

    – Karen Shaw Petrou, managing partner at the policy research firm Federal Financial Analytics, cautioning that market participants may not see an exact harmonization of QM and QRM in regulators’ final rulemaking expected later this year. The mortgage finance expert said she expects a final rule to include some down payment and an industry-acceptable LTV.

    • 30 Aug 2013
  • Greece To Propose Securitization For RE Assets

    The Greek government is said to be considering issuing a proposal by the end of the year that would prepare state-owned real estate assets for securitization or direct privatization, as it is under pressure to shift the assets to a foreign holding company, possibly in Luxembourg.

    • 30 Aug 2013
  • No Alternate Bank Resolution Plan, Says Barnier

    Michel Barnier, the European Union’s commissioner for internal market and services, says there is no alternative plans to the current proposal for handling failing banks and has urged countries in the region to pick up the pace of reaching an agreement on a draft law.

    • 30 Aug 2013
  • CMBS Issuance At Four-Year High

    Issuance of commercial mortgage-backed securities rose to EUR5.4 billion ($7.13 billion) in the first six months of 2013—the highest total recorded in a six-month period since the first half of 2009—according to Standard & Poor’s.

    • 30 Aug 2013
  • Structured Notes Sales Slump In August

    Structured notes sales in Europe and Asia slumped in August with a total of $2.38 billion sold, it lowest monthly level since February 2002.

    • 30 Aug 2013
  • Norway Mulls Nibor Replacement

    Norway is considering shifting the responsibility of setting market reference rates to the government and to replace the Norwegian Interbank Offered Rate, following claims of manipulation.

    • 30 Aug 2013
  • U.K. Mortgage Approvals Up 30%

    Mortgage approvals in the U.K. rose 30% in July from a year earlier, according to the Bank of England.

    • 30 Aug 2013
  • Down Payment, LTV Limit Remain Likely For Final QRM

    A final qualified residential mortgage rule is likely to feature some down payment minimum and loan-to-value ratio limit, despite federal regulators removing those requirements in a revised proposal issued this week, market participants told SI.

    • 30 Aug 2013
  • Hopes For Strong Appetite As Euro Mart Reopens

    Europe’s new-issue pipeline is building, and market pros in London reckon paper-starved investors will be eager to return to the mix, as Santander Consumer Bank—the first issuer out of the post-summer traps—wrapped up a busy roadshow for its Norwegian auto loan securitization, Bilkreditt 4, on Friday afternoon.

    • 30 Aug 2013
  • Bookrunners of European Leveraged Syndicated Loans, 29 August 2013

    Source: Dealogic

    • 30 Aug 2013
  • Bookrunners of West European HY corporate bonds, 28 August 2013

    Source: Dealogic

    • 30 Aug 2013
  • AMP Bank Launches First Progress RMBS This Year

    AMP Bank has launched its first Australian residential mortgage-backed securities deal of the year, the AUD500 million ($446.47 million) Progress 2013-1 Trust.

    • 30 Aug 2013
  • VW’s smash and grab hybrid stuns corp market

    Volkswagen underscored the strength of appetite for corporate credit by taking the bond market by complete surprise on Thursday when it issued the first hybrid deal from a carmaker since the credit crisis. Incredibly, VW got the €2bn two-tranche perpetual away in a single day’s offering — more smash and grab than drive-by. After attracting a €4.5bn torrent of orders the company was even able to increase and tighten the deal and still see it trade up, writes Stefanie Linhardt.

    • 29 Aug 2013
  • Volkswagen revs up French debut, eyes frequent issuance

    Volkswagen, the benchmark issuer in German auto asset-backed securities, is stepping into the French securitization market for the first time with a new auto loan deal, Driver France FCT Compartiment 2013-1, and hopes to become a regular ABS issuer there. Securitization practitioners not connected to the deal welcomed the move, noting the issuer’s strong standing in the market could help establish a new benchmark.

    • 29 Aug 2013
  • Flow of Australian RMBS, consumer ABS quickens

    While the European primary ABS market has yet to show post-summer signs of life, Australian issuers have continued to sell a steady stream of securitizations. AMP Bank has mandated for its first Progress RMBS of the year, just after ING Bank Australia increased the final size of its IDOL RMBS, and the consumer ABS space has also seen deals.

    • 29 Aug 2013
  • NIBC adds RBS-arranged euro CLO to pipeline

    NIBC Bank is preparing a €300m European collateralized loan obligation, North Westerly CLO IV, with the Royal Bank of Scotland as arranger.

    • 29 Aug 2013
  • BSN Medical wraps up loan refinancing in good health

    BSN Medical, the German bandage maker, allocated the refinancing of its euro and dollar term loan 'Bs' late last week. The issuer achieved margins 75bp-100bp tighter than original guidance after attracting investor interest despite a quiet August in the leveraged loan market.

    • 29 Aug 2013
  • Western European syndicated loans, news in brief - August 30, 2013

    Western European syndicated loans

    • 29 Aug 2013
  • Clydesdale’s RMBS sees heightened risks after Moody’s downgrade

    Clydesdale Bank’s residential mortgage-backed securities programmes Lanark Master Trust and Lannraig Master Issuer face increased risks over payment disruption and commingling after the bank’s recent downgrade, according to Moody’s Investors Service.

    • 29 Aug 2013
  • Deutsche Bank privately places Quokka CMBS refi

    Luxembourg-based BGP Investment is said to be closing a new €386m privately placed German multifamily commercial mortgage securitization, which refinances Quokka Finance Plc, a legacy €617.5m CMBS from 2006 that matured earlier this month.

    • 29 Aug 2013
  • European high yield set for €5bn September

    After an August bereft of deals, the European high yield market is gearing up for a return of transactions in September. While issuance is not expected to top last year's €9.1bn equivalent September record, some €5bn of deals could be in the making.

    • 29 Aug 2013
  • Numéricable presses on with plans for likely IPO

    Numéricable, the French cable operator, has entered discussions with investors about a potential takeover of its sister company Completel. The documentation amendments, which leads presented in a conference call on Wednesday evening, are part of Numéricable’s broader preparation for an initial public offering.

    • 29 Aug 2013
  • Foreclosure Inventory Shrinks 4.4%

    The inventory of foreclosed homes shrank 4.4% in July from the preceding month and was down roughly 20% since the beginning of the year, according to CoreLogic.

    • 29 Aug 2013
  • More Distressed Sales In Cash

    The number of distressed homes purchased by cash accounted for 40% of all sales in July, compared with 35% a month earlier and 31% a year ago, as sales rose 11% from July 2012, according to RealtyTrac.

    • 29 Aug 2013
  • FSB Proposes Repo Deal Haircuts

    The Financial Stability Board has issued a number of proposals dealing with risks associated with repo deals, including minimum haircuts of 2% for corporate and other debt, and 4% for securitizations.

    • 29 Aug 2013
  • Revised Mortgage Rule A Positive For RMBS

    A revised qualified residential mortgage rule proposed by six U.S. regulators, including the Federal Reserve, is a positive for issuers and investors in residential mortgage-backed securities as well as originators as it will likely reduce uncertainty, according to Fitch Ratings.

    • 29 Aug 2013
  • CRE Loan Prices In CMBS Dip

    Prices for commercial real estate loans in commercial mortgage-backed securities slipped in July, while prices for impaired performing loans inched up and non-performing CRE loans were flat, according to DebtX.

    • 29 Aug 2013
  • Concern Raised Over Revised Mortgage Rule

    Richard Cordray, director of the U.S. Consumer Financial Protection Bureau, has expressed concern about the revised qualified residential mortgage rule, which aims to align the definition of QRM with the definition of qualified mortgages.

    • 29 Aug 2013
  • International bonds league tables

    Dealogic league tables of bond transactions, August 28, 2013. Includes SSAs, FIG, investment grade and high-yield corporates, emerging markets and ABS.

    • 29 Aug 2013
  • All Bonds league tables

    Dealogic league tables of bond transactions, August 28, 2013. Includes SSAs, FIG, investment grade and high-yield corporates, emerging markets and ABS.

    • 29 Aug 2013
  • All Syndicated Loans league tables

    Dealogic league tables of loans transactions, August 30, 2013.

    • 29 Aug 2013
  • All Revenue league tables

    Dealogic league tables of total revenue transactions, August 30, 2013. Including Investment Banking, Debt Capital Markets, Equity Capital Markets, Mergers & Acquisitions and Syndicated Loan revenues.

    • 29 Aug 2013
  • All Asian league tables by sector

    Dealogic league tables of Asian transactions, dated August 30, 2013. Including Bonds, ECM, Syndicated Loans, Mergers & Acquisitions.

    • 29 Aug 2013
  • Flexigroup Taps Aussie Consumer ABS Platform For Second Time

    Business and consumer finance provider Flexigroup has used its Australian Flexi securitization platform for the second time this year to securitize a portfolio of consumer loans for purchases of household goods.

    • 29 Aug 2013
  • European CRE Investment Soars 32% In Q2

    European commercial real estate investment soared 32% in the second quarter from a year earlier, according to CBRE.

    • 29 Aug 2013
  • Insurance Mis-Selling Unlikely To Affect U.K. Credit Card ABS

    The mis-selling of identity theft and fraud protection to U.K. credit card borrowers is not expected to have a negative impact on U.K. credit card asset-backed securities, according to Fitch Ratings.

    • 29 Aug 2013
  • Danish Bank Rapped Over Risk Controls

    Denmark’s Financial Supervisory Authority has reprimanded Danske Bank over its risk controls after it reported a 34% increase in net trading income between 2007 and 2012—but Danske denies that the growth was driven by excessive risks.

    • 29 Aug 2013
  • Ireland Eyes Growth In Structured Finance Jobs

    The government of Ireland has targeted the structured finance as a growth employment sector, according to Richard Burton, minister for jobs, enterprise and innovation.

    • 29 Aug 2013
  • E.U. Mulls Capital Charges For Shadow Banks

    The European Union is planning to release a document next week that will consider applying mandatory capital regulations now imposed on banks to other financial institutions, including shadow banks.

    • 29 Aug 2013
  • NIBC Adds RBS-Arranged Euro CLO To Pipeline

    NIBC Bank is preparing a EUR300 million ($396.7 million) European collateralized loan obligation, North Westerly CLO IV, with the Royal Bank of Scotland as arranger.

    • 29 Aug 2013
  • AMP Bank launches first Progress RMBS this year

    AMP Bank has launched its first Australian RMBS of the year, the A$500m Progress 2013-1 Trust. The deal is the fifth Australian RMBS to hit the market in the past month.

    • 29 Aug 2013
  • Flexigroup taps Aussie consumer ABS platform for second time

    Business and consumer finance provider Flexigroup has used its Australian Flexi securitization platform for the second time this year to securitize a portfolio of consumer loans for purchases of household goods.

    • 29 Aug 2013
  • Clydesdale’s RMBS sees heightened risks after Moody’s downgrade

    Clydesdale Bank’s residential mortgage-backed securities programmes Lanark Master Trust and Lannraig Master Issuer face increased risks over payment disruption and commingling after the bank’s recent downgrade, according to Moody’s Investors Service.

    • 29 Aug 2013
  • Metallum’s documentation talks drag on

    Switzerland's Metallum expects to allocate its €295m loan package next week, more than a month after it received final commitments from investors on August 2.

    • 29 Aug 2013
  • Numéricable presses on with IPO plans

    Numéricable, the French cable operator, has entered discussions with investors about a potential takeover of its sister company Completel. The documentation amendments, which leads presented in a conference call on Wednesday evening, are part of Numéricable’s broader preparation for an initial public offering.

    • 29 Aug 2013
  • Clydesdale’s RMBS Sees Heightened Risks After Moody’s Downgrade

    Clydesdale Bank’s residential mortgage-backed securities programs Lanark Master Trust and Lannraig Master Issuer face increase risks over payment disruption and commingling after the bank’s recent downgrade, according to Moody’s Investors Service.

    • 29 Aug 2013
  • From Beaufort to Bregal: proALPHA switches hands in LBO

    Germany’s proALPHA has issued €66m of loans to finance its acquisition by private equity firm Bregal Capital. The software provider was previously owned by its two founders Leo and Werner Ernst and by Beaufort Capital.

    • 29 Aug 2013
  • European HY set for €5bn September

    After an August bereft of deals, the European high yield market is gearing up for a return of transactions in September. While issuance is not expected to top last year's €9.1bn equivalent September record, some €5bn of deals could be in the making.

    • 29 Aug 2013
  • U.S. Banks’ Legal Tab Tops $100 Bln

    The nation’s six largest banks have racked up legal costs of $103 billion from litigation stemming from the financial crisis, a figure higher than all dividends paid to their shareholders in the past five years.

    • 28 Aug 2013
  • Regulators Soften MBS Retention Proposal

    The Federal Reserve, the Federal Deposit Insurance Corp. and four other U.S. regulators have jointly revised a proposal that would require banks to retain 5% of mortgage-backed securities they sell with an exemption for MBS that contain mortgages that are considered low risk.

    • 28 Aug 2013
  • Lending Standards Continue To Ease

    Banks and other U.S. lenders continued to loosen their lending standards in July, according to Ellie Mae.

    • 28 Aug 2013
  • Javelin Names COO

    Javelin Mortgage Investment has named Mark Gruber as coo, effective Sept. 3.

    • 28 Aug 2013
  • FHFA Seeks $6 Bln From JPM To Settle RMBS Claims

    The U.S. Federal Housing Finance Agency is said to be seeking at least $6 billion from JPMorgan Chase to settle claims that the bank sold toxic mortgage-backed securities to Fannie Mae and Freddie Mac.

    • 28 Aug 2013
  • Court Greenlights Credit Union Group’s MBS Suit

    The U.S. Circuit Court of Appeals in Denver has unanimously affirmed a lower-court ruling that the National Credit Union Administration may proceed with its claims against banks for allegedly misrepresenting the mortgage-backed securities they marketed.

    • 28 Aug 2013
  • Wells Prices Downsized NPL RMBS

    Bookrunner Wells Fargo priced a non-performing loan residential mortgage-backed securities deal from Carrington Capital Management.

    • 28 Aug 2013
  • Deutsche Bank privately places Quokka CMBS refi

    Luxembourg-based BGP Investment S.à r.l. is said to be closing a new €386m privately placed German multifamily commercial mortgage securitization, which refinances Quokka Finance Plc, a legacy €617.5m CMBS from 2006 that matured earlier this month.

    • 28 Aug 2013
  • Deutsche Bank Privately Places Quokka CMBS Refi

    Luxembourg-based BGP Investment S.à r.l. is said to be closing a new EUR386 million ($514.7 million) privately-placed German multifamily commercial mortgage securitization, which refinances Quokka Finance Plc, a legacy EUR617.5 million ($822.6 million) CMBS from 2006 scheduled to mature earlier this month.

    • 28 Aug 2013
  • Italian Bank Reports Decline In Bad Loans

    Banco Popolare, Italy’s fourth-largest lender, reported an 8% decline in net write-downs of bad loans in the second quarter, the first bank in the country to do so, amid signs that the economy in the region is recovering.

    • 28 Aug 2013
  • Banks On Track To Meet Basel Rules

    The Basel Committee on Banking Supervision says the world’s leading banks are on track to meet higher capital requirements well ahead of the 2018 year-end deadline.

    • 28 Aug 2013
  • U.K. Banks Allowed To Reduce Liquidity Buffers

    The Prudential Regulation Authority announced that the U.K.’s eight largest lenders could reduce their liquidity buffers by a total of £90 billion ($139.7 billion) to help boost the economy, provided they have a minimum core capital ratio of 7%.

    • 28 Aug 2013
  • Eurozone Lending Shrinks Again

    Lending to the private sector in the eurozone declined again, down 1.9% in July from a year earlier, according to the European Central Bank.

    • 28 Aug 2013
  • European CLO Fund Eye New Ways To Extend Life

    European collateralized loan obligation funds are looking for new ways to extend their investment life as they reach maturity, with some considering controversial choices as they attempt to skirt restrictions on their ability to invest.

    • 28 Aug 2013
  • Nationwide To Buy Back Securities

    The U.K.’s Nationwide Building Society has offered to repurchase up to £715 million ($1.11 billion) in permanent interest bearing shares from investors to help boost its capital ratio.

    • 28 Aug 2013
  • New Risk Retention Option For CLOs

    Regulators proposed revising the credit risk retention requirements for issuers of collateralized loan obligations in the U.S.

    • 28 Aug 2013
  • Volkswagen revs up French debut, eyes frequent issuance

    Volkswagen, the benchmark issuer in German auto asset-backed securities, is stepping into the French securitization market for the first time with a new auto loan deal, Driver France FCT Compartiment 2013-1, and hopes to become a regular ABS issuer there.

    • 28 Aug 2013
  • Volkswagen Revs Up French Debut, Eyes Frequent Issuance

    Volkswagen, the benchmark issuer in German auto asset-backed securities, is stepping into the French securitization market for the first time with a new auto loan deal, Driver France FCT Compartiment 2013-1, and hopes to become a programmatic ABS issuer there.

    • 28 Aug 2013
  • Chesapeake to release loans box set

    The UK’s packaging manufacturer Chesapeake expects to launch the syndication of £290m-equivalent of loans on Thursday morning. The debt will support its leveraged buy-out by private equity firm Carlyle.

    • 28 Aug 2013
  • FIG issuance on hold amid Syria concern

    After deals from Wells Fargo and ANZ Bank on Tuesday, FIG issuers stepped back from the primary market on Wednesday with bankers citing concern about possible Western military intervention in Syria as the reason why borrowers have put their plans on hold.

    • 28 Aug 2013
  • BMW, Honda, Orange get market in September mood

    BMW Finance, American Honda and Orange ended the summer corporate bond deal drought, selling €3.5bn of bonds on Tuesday, ahead of what is expected to be a busy September.

    • 28 Aug 2013
  • American Wind To Close Loan, Eyes ABS

    American Wind Capital, which is eyeing a potential securitization of land lease royalties, is nearing the close of a $100 million loan it will use to build its portfolio of royalties to critical mass.

    • 27 Aug 2013
  • FHFA To Lower Loan Limits To Boost Jumbo MBS

    The U.S. Federal Housing Finance Agency is expected to announce by October lower loan limits at Fannie Mae and Freddie Mac as part of its effort to give an additional boost to the market for jumbo mortgage-backed securities.

    • 27 Aug 2013
  • JPM To Pay Russian Billionaire For MBS Losses

    New York State Supreme Court Justice Melvin Schweitzer has ordered JPMorgan Chase to pay Russian billionaire Leonard Blavatnik more than $50 million for losses he sustained from subprime mortgage-backed securities.

    • 27 Aug 2013
  • Eminent-Domain Plan Could Affect MBS Ratings, Says S&P

    Plans by some municipalities to use eminent domain to seize underwater mortgages out of private-label residential mortgage-backed securities could affect ratings of RMBS, according to Standard & Poor’s.

    • 27 Aug 2013
  • U.S. Loan Delinquencies Drop Near 9%

    U.S. loan delinquencies fell 8.76% in July from a year ago, with the foreclosure inventory tumbling 30.76% during the same period, according to Lender Processing Services.

    • 27 Aug 2013
  • GSE Lawsuit Against B Of A Over MBS To Proceed

    U.S. District Judge Jed Rakoff of Manhattan has rejected a bid by Bank of America to dismiss a lawsuit brought by the federal government over mortgage-backed securities the bank sold to Fannie Mae and Freddie Mac, citing “genuine factual disputes” that justify letting the case to proceed.

    • 27 Aug 2013
  • Fannie Mae Names Top Servicers

    Fannie Mae has named Green Tree Servicing, National Mortgage and Ocwen Financial among its top mortgage servicers in the first half of 2013.

    • 27 Aug 2013
  • ING increases IDOL Aussie RMBS

    ING Bank Australia priced the second prime Aussie residential mortgage securitization from its IDOL programme on Monday. IDOL Trust Series 2013-2, brought to market by lead managers ANZ Bank, ING Singapore, Macquarie and National Australia Bank, was doubled in size ahead of pricing from its initial A$500m ticket to A$1bn.

    • 27 Aug 2013
  • Chenavari ABS fund up in July despite slow summer trading

    Chenavari Investment Managers’ European securitization fund Toro Capital IA was up 1.70% last month, thanks largely to the early redemption of a collateralized loan obligation position amid muted summer trading.

    • 27 Aug 2013
  • Securitization and trade finance still worlds apart

    BNP Paribas’s recent deployment of securitisation techniques in the trade finance world is another useful showcase of how banks can offset increasingly expensive trade finance capital requirements. For this type of deal to become more commonplace, however, investors will need to become comfortable with securitization and trade finance — both of which require enormous amounts of expertise.

    • 27 Aug 2013
  • Brigade Taps BAML For New CLO

    Bank of America Merrill Lynch priced a $417 million collateralized loan obligation for Brigade Capital Management last week, pushing the month-to-date issuance total to $4.50 billion, according to SI data.

    • 27 Aug 2013
  • Russian RMBS Remain Stable

    Performance of Russian residential mortgage-backed securities remained stable in the six-month period ended June 30, according to Moody’s investors Service.

    • 27 Aug 2013
  • Nationwide Delays SME Lending Debut

    The U.K. Nationwide Building Society has delayed its launch into the small-business lending market until at least 2016 from its projected debut this year, citing demands to boost its leverage ratio.

    • 27 Aug 2013
  • Hungarian Lenders Likely To Take Hit On FX Loans

    Hungarian lenders will likely take the hit on borrowers who have foreign currency loans, which the government is planning to phase out.

    • 27 Aug 2013
  • U.K. Pressed Further To Break Up RBS

    The U.K.’s Parliamentary Commission on Banking Standards is exerting additional pressure on the government to consider breaking up the Royal Bank of Scotland into a good bank and bad bank, arguing that RBS should better focus on its core U.K. business.

    • 27 Aug 2013
  • RBS Names Specialty Finance Chief

    The Royal Bank of Scotland has named Nick Parkhouse, its client coverage director in investment management, as head of specialty finance.

    • 27 Aug 2013
  • ING Upsizes IDOL Aussie RMBS

    ING Bank Australia priced the second prime Aussie residential mortgage securitization from its IDOL program on Monday.

    • 27 Aug 2013
  • John Deere Pulls YTD Equipment ABS To $7.45 Bln

    Agricultural equipment maker John Deere is marketing its second asset-backed securities deal of the year, a $848.6 million transaction that brings year-to-date equipment ABS issuance to $7.45 billion.

    • 27 Aug 2013
  • The law of the EM bond jungle

    EM debt bankers should not berate issuers for piling into the market in their post-summer rush. Co-ordination is impossible and issuers have every incentive to seek the best terms at the expense of others.

    • 27 Aug 2013
  • Chenavari ABS Fund Up In July

    Chenavari Investment Managers’ European securitization fund Toro Capital IA was up 1.70% last month, thanks largely to the early redemption of a collateralized loan obligation position amid muted summer trading.

    • 27 Aug 2013
  • CEEMEA borrowers — Paradise extended

    Emerging market borrowers should be lining up to tap the loan market. Not only is there plenty of liquidity as this year's volumes scrape the record lows of 2012, but lenders have repeatedly shown their hands by letting clients get away with the sorts of terms treasurers usually can only dream about.

    • 27 Aug 2013
  • BSN Medical wraps up loan refi

    BSN Medical, the German bandage maker, allocated the refinancing of its euro and dollar term loan 'Bs' late last week. The issuer achieved margins 75bp-100bp tighter than original guidance after attracting investor interest despite a quiet August in the leveraged loan market.

    • 27 Aug 2013
  • High yield suffers in August heat

    The high yield market felt the August influence last week as trading was thin, no new primary deal plans dripped through and fund flows reduced to a minimum.

    • 27 Aug 2013
  • Lev loans on radar, but India to miss out

    Bankers in Asia are expecting a pickup in loan activity, believing that corporates will realise that now is the time to tap the market for leveraged loans. While hopes are high for deals from more active markets such as Australia and China, bankers say India is worrisome owing to some recent regulatory changes.

    • 27 Aug 2013
  • Downsized NPL Deal Leads Light Pipeline

    Carrington Capital Management is leading this week’s light pipeline with a $164 million residential mortgage-backed securities deal backed by non-performing loans which was originally being marketed last week at $172 million

    • 26 Aug 2013
  • Insurance Cos. Wade Into Higher Yielding ABS

    Insurance companies, traditionally one of the largest asset-backed securities investor segments, are focusing their purchases on subordinate ABS debt and esoteric ABS in their search for yield, according to JPMorgan analysts.

    • 26 Aug 2013