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Issuer's £280m deal was cleverly marketed
Agar previously worked at Guggenheim Securities
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Broker-dealer firm The PrinceRidge Group has added five directors to sales and trading positions to its mortgage-backed securities division; part of a recent expansion of the group led by senior managing director and head of U.S. residential mortgage-backed securities Barry Berkeley, who joined the firm from Sterne Agee & Leach in January.
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Commodities trading company Trafigura used securitisation to raise funding by collateralising invoices for shipments of oil, metals and coal in a deal that could be copied as other firms in the industry seek new financing.
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Goldman Sachs, Citigroup and Jefferies & Company are preparing to launch GSMS 2012-GCJ7, an approximately $1 billion commercial mortgage-backed securities deal, and could price the offering by as early as next week.
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Goldman Sachs has priced GSMS 2012-Aloha, a $1.4 billion commercial mortgage-backed securities deal backed by the high-end Ala Moan mall in Honolulu, wide of guidance on the AAA bonds, but as much as 65 bps tighter further down the stack.
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Investor concerns over potential conflicts of interest special servicing of loans in commercial mortgage-backed securities continues to simmer regarding issues of affiliate fees, servicer compensations and fair value purchase options, according to Kroll Bond Rating Agency.
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Officials at Skipton Building Society, which has priced its sophomore residential mortgage-backed securities trade Darrowby No. 2, say the major benefit of its securitization program is that it can issue higher-rated securities than in the covered bond market.
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Goldman Sachs has issued price guidance for its $1.4 billion single-borrower commercial mortgage-backed securities deal, backed by the loan on the Ala Moana mall in Honolulu, Hawaii.
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Santander U.K. said Wednesday it is readying a new issue of prime U.K. residential mortgage-backed securities, Fosse 2012-1.
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Half of the loans in European commercial mortgage-backed securities due to mature in April have been extended, bringing the total proportion of extended outstanding loans to 40%, according to Fitch Ratings.