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Fortress agrees forward flow for €500m of unique assets
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
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Caixa Economica Montepio Geral, the bank holding company, has mandated JP Morgan to arrange its third public NPL securitization, with the Portuguese lender closing in on getting its non-performing exposures (NPE) below the 10% mark. -
Crédit Immobilier de France Developpement has mandated BNP Paribas and Crédit Agricole for its public market securitization debut. The issuer was the first to qualify for the ‘simple, transparent and standardised’ (STS) standard with a private placement earlier this year.
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The European Commission has approved Greek plans to set up a scheme called Hercules to enable the country’s banks to cut their non-performing loan (NPL) exposures.
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Lone Star priced the latest Irish RMBS from its ERLS shelf on Tuesday, with arranger Morgan Stanley landing senior notes at a discount margin of 100bp, the wide end of initial thoughts, amid mixed investor reactions.
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Cerberus is marketing a new UK RMBS partly backed by the portfolio it repurchased from Metro Bank this summer, with the senior notes pre-placed and the rest of the stack handled by Bank of America’s trading desk.
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Several European banks sponsoring ABCP conduits have been investigating the possibility of converting these vehicles to the STS regime, but bankers say the risks outweigh the reward.
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As the Brexit deadline looms, issuers are rushing to get deals done before the end of the month. Lloyds has priced a prime RMBS, while Chenavari approaches the finish line with an Italian consumer deal.
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Kensington Mortgage has released initial price thoughts for its upcoming Finsbury Square 2019-3 RMBS following a US roadshow, as Together Money gets ready to price its own offering.
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Real estate investment firm Toorak Capital has closed a $350m securitization, the largest residential bridge loan RMBS to date.
