Lone Star RMBS met with mixed buyside appetites
Lone Star priced the latest Irish RMBS from its ERLS shelf on Tuesday, with arranger Morgan Stanley landing senior notes at a discount margin of 100bp, the wide end of initial thoughts, amid mixed investor reactions.
European Residential Loan Securitisation 2019–PL1 saw initial price thoughts released on Monday with the spread on the senior notes between 90bp and 100bp.Guidance then showed the senior notes at about 100bp, with coverage at 1.7x on the seniors. The class ‘B’ was 1.3 times done, and ...
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