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Latest news
This is the second RMBS deal from the PIF-backed issuer
Volkswagen also added a UK auto ABS to the primary
Invictus, Annaly, JP Morgan to print a billion dollars each next week
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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.
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UAE housing provider Tamweel is poised to issue a new sukuk at a much tighter price than its previous Islamic deal earlier this year. The deal will also come in tighter than one recently issued by the company’s owner Dubai Islamic Bank.
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U.S. commercial mortgage-backed securities and collateralized loan obligations have performed better than expected, while residential mortgage-backed securities and real estate collateralized debt obligations have been the worst performing among all structured finance sectors, according to Fitch Ratings.
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Achmea Hypotheekbank has priced DMPL X, its first Dutch residential mortgage-backed issue in a year, attracting strong investor demand across both tranches.
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The 'A1' tranche on Achmea Hypotheekbank’s DMPL X prime RMBS transaction came at the tight end of guidance on Wednesday, after demand reached two and a half times the available supply.
