Latest news
Latest news
TwentyFour priced its Dutch prime RMBS refi, Blackstone its sterling logistics CMBS
Blackstone is aiming to execute its CMBS before the market shuts for Global ABS
Second large office CMBS in quick succession after The Soloviev Group sold a $1.7bn New York office CMBS last week
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Investment bank Gleacher & Co. Securities has hired former UBS managing director Ted Kelleher to head its middle market fixed-income group.
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Virgin Money’s Gosforth 2012-2, which is being marketed to investors this week, is expected to be well-bid following the recent dearth of new issue securitization paper—but a sharp tightening may see some investors turn their back on the deal.
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Friesland Bank is tendering for bonds in several of its Stichting Eleven Cities Dutch residential mortgage securitizations at or above par, which could see the Netherlands-based mortgage lender take control of the majority of the outstanding bonds.
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Moody’s Investors Service said Monday the U.K. Financial Services Authority’s new rules on mortgage affordability, which take effect April 2014, will boost U.K. prime residential mortgage-backed securities among investors in the long-term.
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European CMBS could make a comeback next year, after a recent rally brought senior spreads well inside the average lending margin on UK office property, according to research from Citi.
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Hurricane Sandy set back the strong pace of issuance in the structured finance markets that has characterized recent months.
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Virgin Money is set to return to the U.K. residential mortgage-backed market later this month with Gosforth 2012-2, its second RMBS deal this year.
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For the first time since the financial crisis, spreads in certain European commercial mortgage-backed bonds have pulled in tighter than the cost of funding margins on underlying property loans, raising hopes of revived new issuance in the still-tricky primary CMBS market.
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A refinancing plan for €4.5bn of debt for one of Europe’s largest multi-family CMBS looks set to win bondholder backing, Barclays ABS analysts said in research on Tuesday.