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
More articles
More articles
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NIBC Bank’s Sound I B.V. and Sound II B.V. Dutch residential mortgage securitizations will not see any immediate change in ratings following the replacement of the Royal Bank of Scotland and NIBC by Bank Nederlandse Gemeenten as liquidity facility provider, according to Moody’s Investors Service.
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Bank of Queensland is rolling out an AUD500 million ($516.7 million) Australian residential mortgage securitization that includes a sterling-denominated tranche—repeating a similar sterling play in an Aussie auto ABS launched earlier this year.
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The first securitizations to carry the Prime Collateralized Securities stamp—an industry kitemark for deals in Europe that meet industry best practices—are expected to emerge in the next month, according to market officials familiar with the matter.
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Redwood Trust this week is marketing its sixth residential mortgage-backed securities deal of the year, continuing its run of nine total post-crisis RMBS offerings.
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The British Bankers’ Association plans to ditch nine tenors and five currencies in the London Interbank Offered Rate framework, which benchmarks much of the European securitization market’s bond prices, as well as drop the sterling repurchase agreement benchmark.
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A weekly roundup of securitization sectors with year-to-date totals in ABS, CMBS, RMBS and CLOs in the US and Europe. -
European securitization has turned in a decent performance so far in 2012, with year-to-date total returns for investors ranging from 1.7% in AAA-rated euro-denominated auto asset-backed securities to 14% in European commercial mortgage-backed securities, according to Citigroup ABS analysts in London.
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UK buy-to-let mortgage provider Paragon Group has renewed and expanded its mortgage warehouse facility with Macquarie Bank, allowing for larger issuance when it comes to market next year.
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Leads are set to price Virgin Money’s Gosforth 2012-2 RMBS at the tight end of guidance, with orders close to £1.5bn even at the lower spread.
