Latest news
Latest news
Together added to the sterling market with a small ticket CRE CMBS
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
More articles
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UAE housing provider Tamweel has opted not to proceed with plans for an RMBS sukuk, having looked poised to issue the deal last week. The complexity of the structure and lack of comparable transactions are likely to have been among the factors weighing on the deal, although Tamweel limited itself to saying that it had based its decision on market feedback.
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Northern Rock Asset Management and Bradford & Bingley have bought back £534m equivalent of euro and sterling denominated subordinated Granite, Aire Valley and Whinstone residential mortgage backed securities.
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Industry eyes are locked on Northern Rock Asset Management and Bradford & Bingley’s £500 million ($784.5 million) tender offer—which expires Wednesday—for subordinate Granite, Aire Valley and Whinstone U.K. RMBS bonds, with some officials speculating on more buy-backs further down the line.
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Moody’s Investors Service is seeking industry feedback on proposed changes to the way it assesses swap and bank counterparty risk in securitizations, as market officials warn the shrinking pool of eligible counterparties threatens a ratings squeeze on many securitized tranches.
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A white paper the American Securitization Forum released today advocating a move to a single agency security has divided members on the issues of guarantee fees and whether or not to call out which government entity is responsible for a particular security, according to a statement today from the group.
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Spanish and Portuguese banks lead their European peers in buying back their own mortgage-backed securities to raise their capital, which also can serve as collateral for loans from the European Central Bank.
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Market officials say sterling-denominated deals will be “a very important sector” in the face of sustained eurozone uncertainty during the second half of 2012, as U.K. lender Virgin Money rounded off a busy June by pricing its Gosforth 2012-1 residential mortgage-backed trade. -
The jurisdictional mainstays of the European RMBS primary market, the UK and the Netherlands, both issued deals this week, through Virgin Money and Achmea Hypotheekbank.
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BBVA has bought back €638m of outstanding ABS across 51 tranches and a gamut of asset classes, while the majority of bonds bought back by Banco Comercial Português were its 2014 floating rate note.
