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Latest news
Cash SRT pipeline fires up earlier than usual
A new European data centre sponsor, Dutch buy-to-let back in business, CLO equity squeezed and a Bitcoin backed deal
€300m of reoffered bonds priced at par, another tranche to be placed privately
More articles
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Charter Court has priced its second sterling RMBS of the year with the help of arranger Lloyds and joint lead Bank of America, making a quick return to market following a deal in January. -
With the environmental, social and governance revolution well under way, attention has turned to the securitization market after recent deals pushed the issue to the top of the agenda. There has been talk of retrofitting the ‘simple, transparent and standardised’ (STS) regulatory framework with a ‘green’ or ‘ESG’ category, but regulators should think twice before conflating both themes.
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Fitch and Moody’s gave a preliminary rating of triple-A to the senior notes on CMF 2020-1, a prime sterling RMBS with 29.4% of loans in the pool coming from the UK government’s Help-to-Buy scheme.
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Catalonia has passed a new housing law that may have an impact on RMBS deals with a high exposure to the region.
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The first fully public syndicated sale of senior ABS backed by Italian non-performing loans in recent years has tempted five new investors to buy into the NPL asset class. Ten buyers were allocated bonds in the landmark deal, Futura 2019.
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While Sinn Féin begins its attempt to form Ireland’s new government, investors and issuers are eyeing a possible overhaul of the country’s housing sector. Securitization is in the headlights, as one of the party’s key manifesto pledges, which promised to throttle the market, is on the negotiating table.
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Skipton Building Society is bringing a prime sterling RMBS with joint arrangers JP Morgan and Lloyds. The issuer last brought a deal in 2016, pausing the programme in light of the UK government’s Term Funding Scheme (TFS).
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Fixed income brokerage firm Incapital has added four industry veterans to its distribution platform, aiming to expand into asset classes that offer clients higher returns in a low yield market. The team is particularly reinforcing its RMBS and CMBS coverage.
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144A dollar covered bonds issued this week by Santander UK and Nationwide Building Society signal that UK banks have made a strategic return to the asset class after an absence of about 10 years. Their return, which is driven by the need to refinance liquidity borrowed under the Bank of England's Term Funding Scheme, should improve price discovery for dollar denominated securitizations.
