UK issuers lock in post-Draghi rally but Paragon investor count halved

By Tom Porter
10 Jul 2014

UK non-prime RMBS issuers Precise Mortgages and Paragon Mortgages realised an impressive tightening of higher beta paper with their latest deals this week, with the latter shrugging off a slowing in demand compared to its previous effort this year.

European ABS spreads were already on a tightening trend in the first five months of this year, but Mario Draghi’s announcement on June 5 that the European Central Bank was “intensifying preparations” for outright ABS purchases has accelerated spread compression across the market.

In the UK the trend ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial