Latest news
Latest news
€300m of reoffered bonds priced at par, another tranche to be placed privately
Deals including some commercial mortgages expected to follow
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UK Asset Resolution has sold the last of its mortgages to Pimco and Davidson Kempner (DK) and the legal holding companies of Northern Rock and Bradford & Bingley, ending the UK government’s involvement in the crisis-stricken lenders and closing the book on the 2008 bail-outs. -
Securitizations with the ‘simple, transparent and standardised’ (STS) label have definitively started pricing better than non-STS deals for the first time since the framework’s launch in 2019, said Santander managing director Steve Gandy, speaking at Afme’s 12th Annual Spanish Capital Markets Virtual Conference.
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Together, the specialist mortgage lender, is bringing a unique UK securitization with a portfolio combining buy-to-let residential properties and commercial real estate, a first of its kind for the market.
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Boudewijn Dierick, BNP Paribas’ head of ABS and covered bonds, is leaving the bank to join Auxmoney, a German consumer lender which set up a €500m warehouse with BNP Paribas in November.
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The UK RMBS market is awash with deals from non-bank lenders who have seen a boost to their origination when the government raised the 0% threshold on its Stamp Duty and Land Tax on residential mortgages last July. The end of the tax break is close, although some anticipate it will be extended.
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The EU Commission is rushing to untangle legislation that would have stopped EU investors from buying Australian securitizations or covered bonds, after the country ended up on the EU’s list of non-cooperative tax jurisdictions.
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NPL Markets, which offers access to a trading ecosystem for distressed and illiquid loans, has appointed a handful of senior advisors.
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Italy’s NPL collections have begun edging back to normality, with December’s collections 71% higher than those in November. The latest collection figures are the highest since the pandemic began.
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JP Morgan is opening warehouse lines for UK mortgage origination, ending a prolonged absence from a core part of the European securitization market for the US giant — a prohibition said to have been mandated by senior figures in the bank’s management team.
