Latest news
Latest news
US market remains the model as template issuance takes shape
Deal is backed by three data centers in Virginia, Illinois and Atlanta
Tightest CMBS print in nearly a year ahead of Yondr data centre ABS debut
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The way rating agencies rate structured finance transactions will come under greater scrutiny from the European Securities and Markets Authority this year, amidst sustained concerns over high outstanding securitization volumes and continued ratings volatility in the region.
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Conduit loan payoffs exceeded expectations in 2012, with about 72% of all loans paying off at maturity, according to data from Trepp, LLC.
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Recently proposed changes to capital requirements from the Basel Committee on Banking Supervision could cause asset-backed securities-related regulatory capital held by banks to increase more than twice over and sharply raise the spread level at which banks break even when investing in ABS, according to Royal Bank of Scotland researchers.
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Rabobank mortgage subsidiary Obvion priced its Dutch residential mortgage-backed securities deal, STORM 2013-I, tight of original guidance on Tuesday, with the EUR150 million ($199.77 million) senior three-year tranche yielding 45 basis points over three-month EURIBOR.
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Initial price thoughts on Obvion’s Dutch residential mortgage-backed trade, STORM 2013-I, surfaced this morning, with the senior class whispered at three-month EURIBOR plus 50-55 basis points.
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German real estate investor Deutsche Annington Immobilien AG’s refinancing of its German Residential Asset Note Distributor (GRAND) commercial mortgage backed-securities deal this week is seen as a positive for the market, though CMBS noteholders will not see the cash flow through until the next quarterly payment date in April, according to London-based asset-backed securities analysts.
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Private equity company Lone Star, the main junior noteholder in Windermere XIV, has failed in its second attempt to change the special servicer on the transaction. Its proposal again failed by margin of less than 5% — though by a larger margin than in December.
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The France Telecom loan, the largest of the two loans left in Morgan Stanley’s 2005 Odysseus (European Loan Conduit No. 21) commercial mortgage-backed deal, was fully repaid Tuesday.
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A handful of new issue Dutch residential mortgage-backed transactions emerged this week and securitization bankers say U.S. investors continue to have the asset class in their sights.