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In March Lone Star closed its fourth residential mortgage fund at over $1bn
Bank’s relationship with SpringCash is ‘commercial’
Deal is the first seasoned performing and reperforming loan deal for Mill City Mortgage this year
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CYBG, the UK banking group, has issued its second Lanark residential mortgage securitization of the year. It has amended the structure of February’s offering to add Sonia coupons and STS certification eligibility to the shelf. That allowed it to print longer bonds than earlier this year. -
The spree of new Sonia-based issuance in the securitization market continued on Tuesday, with three more issuers joining the pipeline — including a marketplace lending debut from LendInvest, ahead of its possible initial public offering later this year.
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Davidson Kempner’s Stratton Mortgage Funding 2019-1, mandated on Tuesday, represents the second time the US hedge fund has had to overcome Rizwan Hussain’s interventions in the secondary market for UK mortgage portfolios.
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Tesco Bank is said to have mandated Citi to run a sale process for its £3.7bn book of UK mortgages, after it decided to pull out of the market, blaming cut-throat competition. But the move has drawn attention to a proposed UK law to help ‘mortgage prisoners’, which could stop UK mortgages trading at all, writes Owen Sanderson.
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The trickle of Sonia issuance in securitization markets has become a full stream less than two months after Nationwide Building Society's debut in the format, with the benchmark now the new standard for sterling markets. The development comes not a moment too soon, as UK banks try to structure their funding around repayment of central bank schemes.
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B2Holding, the Oslo-based debt purchasing and servicing firm, has printed a new €200m senior unsecured 2024 at 635bp over three month Euribor, using the cash to buy back older issues. It plans a new secured bond later this year to fund rapid expansion plans.
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Bank of America Merrill Lynch has been mandated for a new UK RMBS transaction for specialist lender Precise Mortgages, with all tranches on offer referencing the sterling overnight index average (Sonia).
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Specialist lender Domivest is bringing a Dutch RMBS via Citibank and Macquarie Bank backed by performing buy-to-let (BTL) mortgages.
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UK challenger bank Shawbrook is issuing a prime UK buy-to-let RMBS comprised of first-lien mortgages via sole arranger Lloyds. The deal is the first securitization to come from Shawbrook and will be the second non-retained deal linked to the sterling overnight index average benchmark (Sonia).
