Latest news
Latest news
Second time it has securitized Santander-originated mortgages
Norton Rose Fulbright and Katten have added to their legal teams
Charter Court prices tightest UK BTL RMBS in almost a year
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Fintechs and mortgage lenders are eyeing the incoming administration with trepidation, as president-elect Joe Biden is likely to switch out the leadership of key agencies. While there won’t be drastic changes coming out of Congress, the president has power to remove single agency heads without cause, following a recent decision by the Supreme Court. -
CarVal Investors is bringing its second Spanish RMBS securitization backed by re-performing loans originated by Catalunya Banc, mandating Natwest as arranger and Barclays and Standard Chartered as joint leads to syndicate the remainder of a portfolio it acquired from Blackstone.
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Alpha Bank has received two binding bids for the sale of an NPL portfolio worth around €10.6bn, closing the securitization process via Greece's Hercules guarantee scheme and cleaning its balance sheet to make way for new lending.
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The Financial Conduct Authority has opted to give UK borrowers the option of deferring mortgage payments for another six months, after prime minister Boris Johnson announced a second four week lockdown across the UK on Saturday, with the possibility of a further extension.
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The ECON committee of the European Parliament has pushed back a meeting to agree on proposed amendments to the securitization market, making it unlikely that the UK will be able to adopt the same measures before Brexit. The divergence could pin ABS as the first capital market to see significant divisions between the UK and the EU after the two entities separate.
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Unión de Créditos Inmobiliarios (UCI) is bringing its first Spanish deal since 2018 after taking a two and a half year break from the market, announcing the STS-eligible Prado VII Spanish RMBS.
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Tulp Hypotheken has mandated HSBC as arranger and BNP Paribas as joint-lead manager for Tulip Mortgage Funding 2020-1, the issuer’s second ever deal following its 2019 debut.
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Cerberus Capital Management drew strong demand for its 48-line item bidlist of mezzanine mortgage bonds on Thursday, with winning bids for most of the bonds in the nearly day-long sale going to Goldman Sachs and Bank of America, sources tell GlobalCapital.
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Permira and partners have injected £600m of equity into their debt collector portfolio company Lowell as part of a £2.2bn recapitalisation and refinancing effort for the troubled company, which saw its bonds heavily shorted and was widely expected to restructure its liabilities this year. The contribution is the largest equity injection from a sponsor in EMEA since the coronavirus pandemic began, and reflects what Lowell's management sees as a historic opportunity to buy NPL portfolios in the months ahead.
