Latest news
Latest news
Some deals resemble the bank SRT market but there is room for independent sponsors to put trades together
Market participants gathering in Stavanger will focus on market growth
Mezz and certificates go on offer, testing new execution strategy
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London-based securitization bankers are hopeful that a modest tightening in U.K. residential mortgage-backed spreads in the coming weeks could see publicly executed trades reaching levels comparable to funding in the U.K.’s Funding for Lending Scheme for some banks.
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UK mortgage lending is ticking up sharply as the effects of the Funding for Lending Scheme begin to be felt.
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The Royal Bank of Scotland’s proposal to replace itself with Bank Nederlandse Gemeenten as the floating-rate guaranteed investment contract (GIC) provider in Achmea Hypotheekbank’s Securitized Guaranteed Mortgage Loans I B.V. will not trigger any immediate change in the deal’s ratings, according to Moody’s Investors Service.
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Lloyds Bank priced and retained a tap of the prime Dutch residential mortgage-backed securities trade Candide 2012-1.
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Lloyds has tapped its Candide 2012-1 Dutch RMBS, doubling the size of the capital structure from €1.2bn to around €2.4bn, generating a chunk of potential repo collateral.
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Issuance of subordinate debt tied to commercial mortgage-backed securities loans could spike in 2013 and beyond, as lenders chase higher yields and borrowers reach for more leverage to refinance maturing loans.
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Issuance of European securitizations in 2013 will likely be flat to 2012, at about EUR61.5 billion ($81.43 billion), but the mix will change, according to Citigroup researchers.
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Next year is likely to be harsh on structured finance deals from Europe, the Middle East and Asia, according to Fitch Ratings.
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A two-line item of European commercial mortgage-backed securities was scheduled to trade Tuesday, as both trader and investors in London report continued sluggish activity across markets.