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CMBS

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  • West Bromwich Building Society is preparing the first issuance of U.K. prime residential mortgage-backed securities in 2013, just over year since the lender sold its last transaction.
  • Energias de Portugal is marketing a deal this week that will securitise future payments stemming from electricity tariff deficits.
  • Securitization pros are gauging the potential impact on the Co-Operative Bank’s outstanding U.K. residential mortgage securitizations, following Moody’s Investors Service’s six-notch downgrade of the U.K. lender on Friday.
  • Trading in mezzanine commercial mortgage-backed securities surged last week as real money accounts jumped back into the fray, demonstrating a risk-on mindset driven by positive economic data and the continuing hunt for yield, traders and investors said.
  • Australia’s Suncorp Bank successfully priced its latest Apollo RMBS on Friday.
  • Bank of America Merrill Lynch’s Taurus 2013 CMBS has provided the strongest sign so far that a restored and fully functioning European CMBS market is no longer a pipedream, writes Joe McDevitt.
  • Bank of America Merrill Lynch’s Taurus 2013 CMBS has provided the strongest sign so far that a restored and fully functioning European CMBS market is no longer a pipedream.
  • Royal Bank of Scotland strategist Richard Hill will be joining Morgan Stanley’s research team after a garden leave, according to sources.
  • An $875 million single-borrower deal on a portfolio of properties owned by Irvine Company is attracting strong demand from investors even though the loans backing the deal are not cross-collateralized, an unusual feature for single borrower deals, according to sister publication Real Estate Finance Intelligence.