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CMBS

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  • Lead managers Barclays and Natixis have begun meeting with prospective investors in Stockholm-based lender Bluestep AB’s non-conforming Swedish krona-denominated residential mortgage-backed deal.
  • Lead managers on Paragon Group’s U.K. buy-to-let residential mortgage securitization Paragon 18, which carries a novel “turbo” feature designed to calm investor concerns over non-calls on the bonds, are expected to price the deal imminently.
  • Electronic over-the-counter market operator Tradeweb Markets has hired former Nomura’s former Global Head of Spread Product Sales Cactus Raazi to the post of head of North American Credit.
  • Pierpont Securities recently hired former Daiwa Capital Markets commercial mortgage-obligation trader James Perillo.
  • Rabobank’s mortgage subsidiary Obvion priced its fourth Dutch residential mortgage securitization—STORM 2013-IV—late on Thursday afternoon.
  • Paragon Mortgages kicked off the roadshow on its Paragon No. 18 U.K. buy-to-let residential mortgage securitization Tuesday morning, with the deal set to price by the end of the week or early next week.
  • Dutch mortgage lender Obvion is back in the market with the fourth deal this year from its Dutch residential mortgage securitization program, STORM.
  • BGP Investment, which closed its commercial mortgage-backed securities deal Monnet Finance Limited on Monday, is buoyant on opportunities in the CMBS issuance market, particularly German multifamily housing deals, according to Mark Dunstan, managing director.
  • The recent re-proposal of risk retention rules under Dodd-Frank includes a small change to a calculation that could have a big impact on how commercial mortgage-backed securities are sold and structured.