Securitization - Article Archive

  • Subprime auto securitization shifts up a gear

    With three Federal Reserve rate hikes expected this year, the heightening hunt for yield is prodding investors back into riskier corners of the consumer ABS market, but not everyone in the market thinks it is time to start sounding the alarm.

    • 29 Jun 2018
  • Starwood inks non-conforming RMBS partnership with Impac

    Real estate giant Starwood Property Trust, the largest commercial mortgage REIT in the US, is changing tack and pushing into a corner of residential mortgage space that has struggled to revive since the financial crisis.

    • 28 Jun 2018
  • Palmer Square prices latest CLO as supply adds to spread pressure

    Palmer Square Capital Management sold a new CLO on Wednesday, as US CLO analysts are predicting that high levels of supply are likely to put pressure on spreads for the remainder of the year, and rating agencies warn on riskier behaviours seeping into leveraged loan and CLO markets.

    • 28 Jun 2018
  • UK prime RMBS draws healthy dollar tranche demand

    Clydesdale Bank priced its Lanark 2018–2 RMBS deal on Thursday in a busy spell for the European primary market, with the offering highlighting strong demand for short-dated dollar paper.

    • 28 Jun 2018
  • Loans in brief: 28/06/2018

    • 28 Jun 2018
  • Blackstone tapping CMBS to refi La Quinta debt

    Following up from a busy week, a number of CMBS deals are lining up to be priced ahead of the typical post-July 4 market slowdown, including a deal that refinances debt on the La Quinta hotel chain.

    • 27 Jun 2018
  • THL acquires CLO manager

    THL Credit has acquired the CLO unit of Chicago-based loan manager Kramer Van Kirk Credit Strategies.

    • 27 Jun 2018
  • Barclays’ asset finance business bounces back — and now it’s targeting CMBS too

    Barclays is preparing to go toe-to-toe with the market leading US firms with its revived asset finance operation in EMEA — and it is adding commercial real estate capabilities as well. It has backed the effort with senior hires, and serious balance sheet but is it late to the party?

    • 27 Jun 2018
  • Blackstone adds to resurgent European CMBS primary

    Joint arrangers and joint leads Bank of America Merrill Lynch and Morgan Stanley announced a £299.5m CMBS transaction on Tuesday, BAMS CMBS 2018–1, adding yet more supply to a resurgent European CMBS sector.

    • 27 Jun 2018
  • Co-sponsored Mosaic solar ABS prices

    Mosaic and Goldman Sachs priced a co-sponsored solar loan securitization on Monday, the $317.52m Mosaic Solar Loan Trust 2018-2-GS.

    • 26 Jun 2018
  • Freddie deepens CRT portfolio with new ACIS deal

    Freddie Mac auctioned off a pool of residential mortgage insurance contracts from its ACIS shelf late on Monday, which will cover up to $300m of losses on $19.1bn of 15 and 20-year mortgages purchased by the agency between May 2017 and February 2018.

    • 26 Jun 2018
  • Blue Motor starts auto ABS engine

    Sole arranger Citi, together with Deutsche Bank as joint lead manager, announced an inaugural auto ABS deal from Blue Motor Finance (BMF) on Tuesday, hitting the road with Azure Finance No.1.

    • 26 Jun 2018
  • Natixis acquires private debt specialist MV Credit

    Natixis Investment Managers has bought MV Credit, the private debt investment firm, from the partners of the firm.

    • 26 Jun 2018
  • Kartesia hires for CLO investments

    Small and middle market focused lender Kartesia has hired Sharif Anbar-Colas as portfolio manager to focus on CLO investments.

    • 26 Jun 2018
  • Credit Suisse sells first consumer ABS

    Credit Suisse on Friday sold its first consumer ABS transaction, a $180.21m deal backed by a pool of loans originated online via marketplace lender loanDepot.

    • 25 Jun 2018
  • Angel Oak issues largest ever non-QM RMBS

    Angel Oak announced on Monday that it had completed its largest RMBS deal to date, AOMT 2018-2, backed by 1,096 mortgages with an average loan size of $366,797. Deutsche Bank and Nomura were joint bookrunners on the deal.

    • 25 Jun 2018
  • Fed unwinding, CRE CLOs transform market

    In its mid-year outlook on structured finance, JP Morgan analysts said that while valuations of MBS are attractive in an evolving macro context, evolving dynamics in mortgage bond supply and a rising CRE CLO market could create some degree of spread widening across the market.

    • 25 Jun 2018
  • BMW revs up new UK auto ABS

    Joint lead managers HSBC and Lloyds Bank on Monday announced Bavarian Sky UK 2 ,a sterling UK auto ABS from BMW Financial Services.

    • 25 Jun 2018
  • White House spells out privatisation proposals for GSEs

    The White House has floated proposals to end the duopoly of Fannie Mae and Freddie Mac in mortgage finance and scale back the government’s footprint in the housing market, as part of a broader plan to reform and downsize the US federal government.

    • 22 Jun 2018
  • BlackRock shopping equity for sixth Euro CLO

    GlobalCapital has learned that Citigroup is marketing the equity for BlackRock’s sixth European CLO, which is expected to be around €410m in size.

    • 21 Jun 2018
  • European banks could see boost in portfolio financing from EBA plans

    European-regulated banks might see a boost to their business from an obscure tweak to securitization rules, rolled out in a European Banking Authority paper published on Tuesday. The proposals could see them better able to compete with US firms in the increasingly lucrative business of portfolio financing through securitization.

    • 21 Jun 2018
  • US RMBS picks up despite housing market headwinds

    The private label RMBS market in the US is buzzing with activity as the first half of 2018 comes to an end, with issuers lining up a number of deals to be priced through the end of this week and early next week.

    • 21 Jun 2018
  • Prime RMBS offers reprieve against higher funding costs

    The European primary ABS market has kicked into high gear in the weeks since the Global ABS conference in Barcelona, which ended on June 7. RMBS is particularly in focus as banks return to the market, with the tide of cheap central bank money ebbing away.

    • 21 Jun 2018
  • Global investors snap up GS Caltex’s return

    South Korea’s GS Caltex Corp had five times the demand for its $300m bond on Wednesday, allowing it to pull off an exceptional 30bp price tightening.

    • 21 Jun 2018
  • Credit Suisse preps marketplace loan ABS

    Credit Suisse is in the market this week with a $180.21m ABS offering backed by unsecured consumer loans originated by online lender loanDepot, and had already received heavy demand from investors as of late Wednesday.

    • 20 Jun 2018
  • Janus to challenge BlackRock, Vanguard with MBS ETF

    Janus Henderson filed documents with the Securities and Exchange Commission on Wednesday announcing the launch of an actively managed exchange-traded fund (ETF) set to outperform the Bloomberg Barclays US mortgage-backed securities Index, which are tracked by several MBS ETFs.

    • 20 Jun 2018
  • Capital boost for GSEs unlikely to upend mortgage finance

    The Federal Housing Finance Agency has published new guidelines that would require Fannie Mae and Freddie Mac, the two government sponsored enterprises (GSEs) at the heart of the US RMBS market, to increase their loss reserves from $3bn to $180bn, worth roughly 325bp of their assets and off-balance sheet guarantees.

    • 20 Jun 2018
  • Clydesdale makes RMBS return with new Lanark deal

    Bank of America Merrill Lynch, as sole arranger, together with joint leads Barclays, Citigroup, and Lloyds Bank announced a prime RMBS from Clydesdale Bank’s master trust programme on Wednesday.

    • 20 Jun 2018
  • Blackstone builds out hotel portfolio with LaSalle buy

    Real estate investment trust LaSalle Hotel Properties on Monday batted down yet another takeover bid from Pebblebrook Hotel Trust, nearly a month after it agreed to be acquired by Blackstone fund Real Estate Partners VIII for $3.7bn. LaSalle owns 41 commercial properties across the US, including two high-end resorts in Key West and the luxury Gild Hall hotel in New York.

    • 19 Jun 2018
  • Lloyds floats price talk for prime RMBS

    Lloyds has attracted more than $1.3bn of interest for the dollar denominated 1.95 year triple-A '1A1' notes of its Permanent 2018-1 prime UK RMBS deal, as well over £800m of orders for the 2.8 year sterling triple-A ‘1A2’ tranche, with estimates of £1bn-£1.25bn in total issuance.

    • 19 Jun 2018
  • BlueBay hires structured credit head, plans new range of structured funds

    BlueBay has hired Sid Chhabra as head of structured credit and CLOs in London, and plans to establish a new range of global structured credit and ABS strategies.

    • 19 Jun 2018
  • Investors continue chasing Astrea IV in secondary

    Temasek Holdings’ private equity funds-backed collateralised fund obligation Astrea IV started trading on the Singapore Exchange (SGX) on Monday, with investors continuing to chase after the notes.

    • 19 Jun 2018
  • Range of CMBS deals line up as market heads into summer

    A flurry regulatory documents filed on Thursday and Friday point to a number of CMBS deals hitting the market this week, including conduit deals from Wells Fargo and UBS and several single asset-single borrow (SASB) deals. CRE CLOs are also on the radar, as that market experiences a "frenzy" of activity.

    • 18 Jun 2018
  • Goldman, Mosaic ready co-sponsored solar ABS

    Goldman Sachs and residential solar finance firm Mosaic are preparing to jointly issue a new solar loan securitization, Mosaic Solar Loan Trust 2018-2-GS.

    • 18 Jun 2018
  • Euro ABS pipeline swells post-conference

    The primary European ABS market has sparked to life since the annual Global ABS event in Barcelona earlier this month, with announcements last week of German-Dutch CMBS, Spanish RMBS, UK RMBS and Italian NPL deals, as well as a prime UK credit card ABS announced on Monday.

    • 18 Jun 2018
  • Pair of single borrower CMBS price, while CRE CLOs see more action

    A pair of single borrower deals were priced this week — the hotel-backed AHTP 2018-ATRM and WFCM 2018-1745, a securitization of a $319m loan partially used to refinance an office complex on 1745 Broadway in New York. Meanwhile, the market for commercial real estate CLOs is showing no signs of fatigue.

    • 15 Jun 2018
  • Freddie's CRT programme reaches $1tr mark but collateral running short

    Freddie Mac has officially transferred more than $1tr worth of mortgage risk via its credit risk transfer (CRT) RMBS programme, bringing the total amount of mortgage principal risk shifted away from both Fannie Mae and Freddie Mac since 2013 to over $2.25tr.

    • 15 Jun 2018
  • China Re talks to Singapore about cat bonds

    China Reinsurance (Group) Corp’s chairman recently held talks with the Singapore deputy prime minister about catastrophe bonds. The conversation’s timing is bound to raise eyebrows, given the reinsurer’s outstanding cat bond is due next month.

    • 15 Jun 2018
  • Freddie Mac issues $1.22bn multifamily CMBS deal

    Freddie Mac has issued a new multifamily CMBS offering from its K shelf, K-077, which is backed by a pool of mortgages on apartment properties. The deal marks Freddie Mac’s 21st K-Series deal of the year.

    • 14 Jun 2018
  • PetSmart downgraded by S&P after Chewy transfer

    S&P Global Ratings knocked a notch off pet food retailer PetSmart’s corporate credit rating on Thursday, citing the firm’s ‘unsustainable’ capital structure and the increased risk of a distressed debt exchange after a portion of its subsidiary Chewy was transferred to private equity sponsors.

    • 14 Jun 2018
  • Loans in brief: 14/06/2018

    • 14 Jun 2018
  • Goldman makes swift return with new CMBS

    Goldman Sachs as sole arranger, lead manager and bookrunner announced a €235m CMBS, Kantoor Finance 2018 DAC, on Wednesday, the second CMBS of the year from the investment bank. It follows swiftly on the heels of its £427m Ribbon Finance deal, which was priced at the end of May.

    • 14 Jun 2018
  • Merrill Lynch coughs up for excess RMBS mark-ups

    Merrill Lynch, Pierce, Fenner & Smith, a brokerage subsidiary of Bank of America Merrill Lynch, has agreed to pay $15.7m for defrauding customers and excessively marking up the value of securities while trading non-agency RMBS.

    • 13 Jun 2018
  • MGM set to refi, media firms ramps content production

    Metro-Goldwyn-Mayer (MGM), which controls the distribution of movies and TV content such as the James Bond franchise and The Handmaid’s Tale, is in the market with a new $2.5bn refinancing package this week, as traditional US media companies ramp up their borrowing to fund new content to compete with new competitors such as Netflix.

    • 13 Jun 2018
  • Rally in CRE CLOs pushes issuance to new levels

    Commercial real estate CLO issuance is on a tear in 2018, with $6.4bn already printed so far — including deals from stalwarts such as Blackstone and newcomers such as Silverpeak Argentic and Varde.

    • 13 Jun 2018
  • TwentyFour readies second Malt Hill RMBS

    TwentyFour Asset Management on Wednesday mandated Bank of America Merrill Lynch as arranger for Malt Hill No.2, a buy-to-let (BTL) RMBS comprising mortgages originated by Coventry Building Society through its Godiva brand.

    • 13 Jun 2018
  • Vivint reveals details of ABS private placement

    Credit Suisse was sole arranger on a privately placed solar securitization that Vivint issued alongside its public market debut last week.

    • 12 Jun 2018
  • US high yield in dry spell as loans race on

    Just one issuer had tapped US high yield investors by Thursday this week, following the quietest May since 2010 and with leveraged loans now outweighing high yield bonds for the first time since 2008.

    • 12 Jun 2018
  • CRE finance pros eye late cycle behavior in US CMBS

    The excesses of the pre-crisis years in CMBS are a distant memory but a host of downside risks are emerging as the credit cycles reaches its peak, warned a panel of commercial real estate finance experts at the annual CREFC conference in New York on Tuesday.

    • 12 Jun 2018
  • Clifden targets Thrones with tender as Mars plans refi

    Clifden IOM, the controversial fund which unsuccessfully tendered for UK non-conforming RMBS from the RMAC series earlier this year, has launched another bid to squeeze cash out of a securitization. This time it is targeting Thrones 2013-1, which is sponsored by Mars Capital and is about to be refinanced.

    • 12 Jun 2018
  • Innogy conundrum challenges green bond market to find its purpose

    Does it matter if a green bond becomes separated from the green assets that underlie it? The link keeps the issuer honest — but shouldn’t the green bond market be doing more than that?

    • 12 Jun 2018
  • EBA and ECB slap down suggestion to wipe NPL sale data

    As the European non-performing loan (NPL) securitization market heats up, regulatory authorities are at loggerheads over how to treat losses from bad loan sales in bank capital calculations.

    • 12 Jun 2018
  • More retail woes for CMBS, but no crisis in sight yet

    US CMBS delinquency rates are at historic low levels despite retail bankruptcies and department store closures this year, casting doubt on the hedge funds which made big bets on ‘a Big Short’ style trade on the CMBX indices.

    • 11 Jun 2018
  • Five priced in US CLOs, as market eyes reset spree

    The US primary CLO market buzzed with activity last week, as five new deals were priced and investors eye a wave of reset transactions in the second half of the year.

    • 11 Jun 2018
  • Highland targets European investors for new CLO fund

    US alternative investment manager Highland Capital Management has launched a new Irish-domiciled global CLO debt fund to tap into European investor demand for floating rate corporate debt in an easily investable format.

    • 11 Jun 2018
  • Lloyds ends RMBS drought after end of TFS cheap money

    Lloyds is weaning itself off the Bank of England’s Term Funding Scheme (TFS), tempting investors back to its RMBS programme with a dollar and sterling denominated offering, after an 18 month absence from the market.

    • 11 Jun 2018
  • June starts to sizzle for US securitization

    June may be shaping up to be a scorcher in US structured finance, with a raft of CMBS deals likely to follow a big industry conference next week and consumer and esoteric activity also heating up.

    • 08 Jun 2018
  • PIMCO setting up new CLO equity fund

    PIMCO is understood to be setting up a new fund aimed at buying CLO equity tranches, with portfolio managers recently flagging the opportunity created in the space by the rollback of risk retention rules.

    • 08 Jun 2018
  • Spreads tighten further on new issuance of Freddie Mac credit risk notes

    Freddie Mac priced $263.5m of STACT 2018-SPI2 notes on Wednesday, its largest deal to date in its newest category of unsecured credit risk transfers (CRTs). CRTs are a form of credit insurance on the mortgages held by Freddie Mac.

    • 07 Jun 2018
  • Natixis appoints new head of US CLO banking

    Natixis has appointed Chris Gilbert as head of US CLO banking and David Williams as head of US global structured credit solutions capital markets, following the departure of two CLO bankers last month.

    • 07 Jun 2018
  • Temasek takes private equity CFO to next stage

    Temasek Holdings returned to the securitization market this week after a two year hiatus to woo investors into private equity funds-backed Astrea IV. Institutional investors are already in the bag. The focus now is on winning over retail accounts — the first time such a deal has been open to the city-state’s public, writes Addison Gong.

    • 07 Jun 2018
  • SAIC-GMAC prints jumbo Rmb10bn ABS deal

    General Motors’ joint venture sealed a Rmb10.4bn ($1.62bn) deal in the Chinese securitization market on June 6, marking its biggest outing so far. Bankers on the deal said the auto company wanted to bag the cash before onshore rates come under pressure in the second half of the year.

    • 07 Jun 2018
  • Vivint prices debut solar securitization

    Vivint Solar has priced its first asset-backed securitization, a $466m offering backed by a multi-state portfolio of residential solar assets, with the vast majority of the cash flows coming from power purchase agreements (PPAs).

    • 06 Jun 2018
  • 2018 could be defeasance sweetspot for some CMBS borrowers, says Kroll

    Analysts at Kroll Bond Rating Agency have predicted that more CMBS borrowers may elect to “defease” their collateralized bonds this year before rates creep higher, although investors say an overheated commercial real estate market could drag on prepayment rates.

    • 06 Jun 2018
  • Focus on CLO resets could drag on new issue volumes, say sources

    The rush of US CLO managers looking to extend existing deals on the back of risk retention rules being vacated might take some of the steam out of the new issue CLO market in the second half of the year, say some market players.

    • 06 Jun 2018
  • HSBC hires structurer from NatWest

    HSBC has hired Peter Mansbridge from NatWest Markets, who joins the bank’s structured finance group as a director.

    • 06 Jun 2018
  • Blockchain will transform ABS, but needs ‘proof of concept’

    Blockchain technology will be a wide ranging structural improvement to underlying infrastructure of the securitization market, said panellists on Wednesday, but the technology is going to need a “proof of concept” before institutions will be convinced to move away from legacy systems.

    • 06 Jun 2018
  • EBA expects work to unblock NPL securitization market

    The European Banking Authority could push forward a new set of regulations designed to make sure the securitization market can play a full role in resolving the non-performing loan problem faced by Europe’s banks, according to Adam Farkas, executive director of the EBA, speaking in a keynote address at the IMN/Afme Global ABS conference in Barcelona.

    • 06 Jun 2018
  • Take radical action to boost diversity, panel urges

    The diversity in finance roundtable at Global ABS on Wednesday struck a dismal tone in noting that not a great deal has changed with regard to the representation of women and minorities since the market began having these conversations, leading the panel to urge more novel approaches to addressing the problem.

    • 06 Jun 2018
  • Euro ABS growth still hobbled by regs angst

    Regulatory issues over the past year have been a drag on what could have been achieved in the European ABS new issue market, with teething issues surrounding the introduction of the new Securitization Regulation, due to kick in January 2019, potentially contributing to a dip in issuance at the start of next year, said panellists speaking at Global ABS on Wednesday.

    • 06 Jun 2018
  • Credit cycle ‘nowhere near’ turning point for European CLOs

    A panel of CLO experts speaking on day two of Global ABS agreed that the market in Europe is operating a near peak efficiency, and that the market is “nowhere near” a turn in the credit cycle for at least the remainder of this year.

    • 06 Jun 2018
  • Deutsche’s European corp fin victory plan unravels as Warren exits

    Deutsche Bank’s head of corporate finance EMEA, Alasdair Warren, has become the highest profile casualty of new CEO Christian Sewing’s cost-cutting drive, after failing to re-establish Deutsche at the summit of the European corporate finance rankings.

    • 06 Jun 2018
  • Temasek finds support from institutional investors for Astrea IV

    Institutional investors piled into Singapore sovereign investment arm Temasek Holdings’ Astrea IV securitization, making the deal almost four times covered. All eyes are now on appetite among retail investors, as it’s the first time a private-equity backed trade is open to the public.

    • 06 Jun 2018
  • PetSmart moves Chewy stock out of reach of bondholders

    US pet retailer PetSmart has moved a portion of online subsidiary Chewy out of the reach of the company's senior bondholders, but that has not weighed on the notes in the secondary market.

    • 05 Jun 2018
  • Consumer ABS issuance spikes in May

    A bumper month of US consumer ABS issuance in May has helped push year-to-date volumes ahead of last year's figures, although this could be driven by issuers front loading ahead of expected rate rises later in the year, said analysts.

    • 05 Jun 2018
  • Global ABS set to draw nearly 4,000 as market momentum builds

    Barcelona will play host to nearly 4,000 international securitization professionals for this year’s Global ABS conference, as the market looks to gain clarity on the continued evolution of ABS regulation, the effects of European populism on national economies and the depth of the ABS investor base.

    • 05 Jun 2018
  • Euro MPLs growing, but securitization a ways off

    The marketplace lending sector in Europe is growing, with a sharp focus on the small to medium sized enterprise segment, but it is still lagging UK and the US markets and lenders will need to ramp up scale and educate investors before a meaningful pipeline of securitization can build.

    • 05 Jun 2018
  • Fintech on its way to revolutionising market processes

    The development of financial technology is stripping out labour-intensive manual processes, such as property valuations and credit scoring, leading to a ‘faster time to yes’ and ‘reducing costs’, said panellists at the Deciphering Fintech panel on Tuesday.

    • 05 Jun 2018
  • NPL investors set to shrug off Italian politics

    Buyers of Italian non-performing loans are likely to shrug off issues associated with the country’s controversial new government, according to market participants at Global ABS. But their bankers may be less fortunate, with financings marked wider and losses likely to be booked.

    • 05 Jun 2018
  • ‘Quantum physics’ in ABS as IFRS 9 hurts investment

    IFRS 9 accounting rules are cutting certain investors out of some ABS asset classes all together, with auto lease ABS likely to be hardest hit, according to panellists speaking at Global ABS on Tuesday.

    • 05 Jun 2018
  • Scor sees power of choice with UK cat bond

    Scor said that being able to launch a catastrophe bond from the UK provided it with a useful alternative for issuance, after it sold the first catastrophe bond from the country with an unusual dual layer structure last week.

    • 05 Jun 2018
  • JP Morgan syndicate switch-up as Lewell leaves for London

    Marc Lewell is returning to London after three years running JP Morgan’s Asia-Pacific syndicate, prompting the appointment of a new head of the desk.

    • 05 Jun 2018
  • Volcker proposals open door for return of US CLO bond buckets

    The proposed changes to the Volcker rule include an invitation for comments on whether CLO managers should once again be able to hold high yield bonds in their portfolios, a move that would bring US managers back in line with their European counterparts.

    • 04 Jun 2018
  • Ginnie Mae boots lenders off RMBS shelf in vet loan churn crackdown

    The Government National Mortgage Association (Ginnie Mae) has barred three non-bank lenders from contributing home loans made to military veterans to its multi-issuer mortgage-backed securities because of concerns over rapid loan refinancing at the firms, writes Alexander Saeedy.

    • 04 Jun 2018
  • NN issues first covered CPT as hopes for RMBS rise

    NN Bank paid a generous premium for the first Dutch conditional pass through (CPT) covered bond of 2018. The deal emerges in the wake of the European Commission’s decision to halve capital charges for certain securitizations, a move which may cause some banks to reconsider RMBS issuance.

    • 04 Jun 2018
  • Temasek takes Astrea IV CFO to public

    Singapore sovereign wealth fund Temasek Holdings is set to take the securitization market to the next level, seeking three tranches of rated notes worth $500m-equivalent through Astrea IV. A local currency-denominated tranche will also be opened for subscription to retail investors later this week.

    • 04 Jun 2018
  • EC shoehorns STS into Solvency II, lowering capital charges for insurers

    An announcement on Friday by the European Commission (EC) states that ‘new rules’ have been adopted to stimulate insurance company demand for 'simple, transparent and standardised' (STS) securitizations.

    • 04 Jun 2018
  • CMBS lending slipping back to precrisis ways, says Moody’s

    Moody’s Investors Service sounded the alarm on deteriorating underwriting standards in the US CMBS market on Friday, as interest only lending and single tenant concentrations spike to levels last seen in 2007.

    • 01 Jun 2018
  • Scor launches first UK-domiciled cat bond

    Scor finalised the sale of the first catastrophe bond to be issued from the UK this week, after the country passed legislation at the end of last year authorising the creation of issuance vehicles.

    • 01 Jun 2018
  • Veteran treasurer Bronzwaer retires from Obvion

    Treasurer of Obvion and champion of the Storm Dutch RMBS programme, Max Bronzwaer, is set to retire at the end of July, handing over duties to Rachelle Rijk, according to an announcement from the lender on Friday.

    • 01 Jun 2018