Latest news
Latest news
This is the US asset manager's third deal of 2026, a year in which it plans to launch around $10bn of new paper
ABS primary market performs well after Iran strikes and fall of MFS
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Barclays Capital structured finance analysts this week highlighted risks to investors in the E-MAC NL 2004-1 and E-MAC NL 2008-1 Dutch RMBS.
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Lead manager Rabobank this week placed Eu1.5bn of Obvion’s Storm RMBS with a third party investor, following a Eu2bn private placement from the same series in 2010.
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Veneto Banca is set to offer a Eu560m RMBS after lead managers JP Morgan and Natixis took the issuer on a roadshow this week in a deal buoyed by spread tightening and a lack of alternative supply.
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Market participants expect a liquid UK prime RMBS to come to market soon after Royal Bank of Scotland said it will call all classes of its Arran 2006-1 deal on the first call date in April.
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Rabobank has placed Eu1.5bn of Obvion’s Storm RMBS with a third party investor, following a Eu2bn private placement from the same series last year.
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Securitisation structures are becoming simpler while covered bonds are becoming more complex, said the European Central Bank in a report published on Tuesday which drew attention to recent issuance developments.
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Italian financial services group Unipol is looking for buyers to take parts of Grecale ABS 2008 off its balance sheet, according to several ABS fund managers. The bank issued and retained the deal in 2008, but now aims to sell at least part of it into the market, following a restructuring of the transaction.
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Granite BBB notes touched a cash price of 64 this week, with at least two dealers only showing bids. This marks a new high in a rally that saw Granite BBBs at 37 this time last year, and highlights the extent of spread compression in riskier assets. UK NC bonds, for example, have come in around 900bp on the year.
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Lead managers ABN Amro, JPMorgan, Rabobank and Royal Bank of Scotland sold the five year senior notes of ABN Amro’s Dolphin 2011-1 on Thursday, pricing the Eu500m piece deal at 140bp over three month Euribor, the wide end of the 135bp-140bp price talk released on Tuesday. The deal was 1.3 times covered, and like Holmes (see separate story) real money investors dominated.