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RMBS

Banks seen returning to STS supply in H2

Banks could return to securitization markets in the second half of the year, raising hopes of a revival in simple, transparent and standardised (STS) supply, as issuers who have previously printed deals with the quality stamp look to replace funding as it rolls off, and treasury teams look to purchase high quality RMBS for their investment portfolios.

Tom Brown, March 01, 2021
RMBS

Pimco and Davidson Kempner take final slice of UKAR assets

UK Asset Resolution has sold the last of its mortgages to Pimco and Davidson Kempner (DK) and the legal holding companies of Northern Rock and Bradford & Bingley, ending the UK government’s involvement in the crisis-stricken lenders and closing the book on the 2008 bail-outs.

Tom Brown, March 01, 2021
RMBS

Together mixes CRE and resi in unique securitization

Together, the specialist mortgage lender, is bringing a unique UK securitization with a portfolio combining buy-to-let residential properties and commercial real estate, a first of its kind for the market.

Tom Brown, February 24, 2021
Securitization Polls and Awards

Voting now open for GlobalCapital's European securitization awards

Voting is now open for GlobalCapital's European securitization awards.

Owen Sanderson, February 15, 2021
RMBS

Charter Court leans into strong market with RMBS reoffer

Charter Court Financial has sold a secondary reoffer of the class ‘A2’ tranche of its 2019-1B RMBS deal, tapping into a market which has seen spreads retrace the widening experienced during the early months of the pandemic.

Tom Brown, February 08, 2021
RMBS

Kensington ‘social bond’ tightens amid investor scepticism

Specialist mortgage lender Kensington’s first ‘social’ RMBS is heading to be priced between 59bp and 62bp, clinching premium pricing for an innovative deal. But investors say the discount is mostly thanks to the scarcity of UK RMBS supply rather than the social element.

Tom Brown, February 02, 2021
Leader

Social RMBS, and not before time

Kensington is marketing the first ever RMBS 'social bond', which could mean investors accepting a lower spread for their mortgage bonds thanks to the label. But Kensington’s lending approach will be little changed by the new issue, raising the question of what the new issue changes.

Tom Brown, January 28, 2021
RMBS

Kensington brings landmark ‘social RMBS’ to Europe

Kensington Mortgages is bringing the first labelled social RMBS in Europe, a landmark transaction set to be followed by others, as the securitization market catches up to other capital markets which have more readily adopted ethical frameworks. By Tom Brown.

Tom Brown, January 28, 2021
RMBS

ABS issuers bet investors will keep binging

New deals are flooding into the European securitization market, especially the UK, in the last week of January, after two RMBS issues attracted unprecedented demand. Issuers are betting investors remain hungry for securitized products, despite national lockdowns.

Tom Brown, January 26, 2021
GC View

Securitization can help the UK but the government must do its part

Securitization can play a part in the UK’s economic recovery from the coronavirus pandemic but it needs the government to keep the housing market alive.

Tom Brown, January 19, 2021
ABS

Libor securitizations count down to April repo deadline

The European securitization market needs to whittle down its remaining ‘tough Libor’ legacy contracts without relying on help from the UK regulators, said the Association for Financial Markets in Europe (Afme) on Wednesday.

Tom Brown, January 06, 2021
RMBS

Sterling-heavy Q1 in store for securitization

The securitization market is expecting January to be dominated by sterling issuance, after a Brexit deal was finalised on Christmas Eve, with non-bank issuers revving up for 2021. SPV filings suggest Cerberus, Davidson Kempner, Belmont Green, and Kensington are all readying deals.

Tom Brown, January 05, 2021

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