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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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Allied Irish Bank began roadshowing its £450 million ($729.1 million) securitization of U.K. residential mortgages, Tenterden Funding, on Tuesday.
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Barclays and RBS have released initial price thoughts for Skipton Building Society’s Darrowby No2 RMBS, the third RMBS from a UK building society in the last two weeks.
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U.S. banks have eased their lending standards for commercial loans as they experienced stronger demand in the first quarter, according to the Federal Reserve’s quarterly survey of senior loan officers.
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Real estate investment trust Western Asset Management has announced plans to raise $160 million in an initial public offering and to use the proceeds to investment in mortgage-backed securities from Fannie Mae and Freddie Mac.
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Skipton Building Society officials say the major benefit of its securitization program is that it can issue higher-rated securities than in the covered bond market, as the firm prepares to price its sophomore trade, Darrowby No. 2.
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Allied Irish Bank (UK) has entered the ABS market with Tenterden, a securitisation of UK mortgages. The collateral is comparable with other UK RMBS issuing institutions, including building societies, but the notes will still need to offer a pick-up over the likes of building societies to stand a chance of success.
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Dutch lender Aegon Levensverzekering N.V. has priced Saecure 11, the first residential mortgage-backed securitization from the Netherlands to be sold in dollars, with market officials now predicting the deal will blow open the doors for more Dutch issuers to tap U.S. investor appetite.
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The Basel Committee on Banking Supervision is considering easing capital and liquidity regulations imposed on European Union banks if their competitors in other regions manage to circumvent the measures.
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Credit default swap spreads on Spain’s biggest banks, led by BBVA and Banco Santander, widened sharply after Standard & Poor’s downgraded the nation’s credit rating for the second time this year.