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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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Leads on RCI Banque’s latest auto ABS have started testing investor interest at initial price thoughts of 55bp/60bp over one month Euribor.
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The credit crisis has left many companies with stakeholders and regulators demanding granular information about less liquid and infrequently traded assets and liabilities that are often complex and difficult to value. -
The Bank of England’s Funding for Lending Scheme—which has been forecast to squeeze U.K prime RMBS issuance volumes from next year—is expected to be a hot topic of conversation between U.K. bank issuers and U.S. investors at the ABS East conference in Miami next week.
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Crédit Foncier could issue its first RMBS within weeks after deciding to start issuing the product alongside covered bonds. The French mortgage provider is set to begin with a private placement that will securitise around €1bn of mortgages. It will sell the senior tranche to French insurers and fund managers that expressed interest in the project early on.
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UK buy-to-let mortgage specialist Paragon has sold the first publicly marketed single-A RMBS since the crisis. The issue formed part of a triple-tranche offering that garnered strong international interest even after pricing well through guidance.
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Paragon’s U.K. buy-to-let residential mortgage-backed trade Paragon Mortgages No. 17 priced Thursday morning, clocking in 15 bps inside of guidance and in line with where new issue U.K. prime RMBS were printing in July.
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UK buy-to-let mortgage specialist Paragon has sold the first publicly marketed single-A rated RMBS since the crisis, as part of a triple tranche offering that was priced well through guidance and garnered strong international interest.
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RBS hired Trez Moore as a managing director in its mortgage finance unit.
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A weekly roundup of securitization sectors with year-to-date totals in ABS, CMBS, RMBS and CLOs in the U.S. and Europe.
