Latest news
Latest news
Rating cut as note pays more interest than planned
Inflation caused by war threatens budding recovery in commercial real estate
The rise of the European master trust and the CLO market nears shut down
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Prime Collateralised Securities (U.K.), the group overseeing the PCS kitemark in Europe, will hold a user roadshow for the recently-launched initiative in four European cities next week.
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The struggle to find yield next year could force ABS investors towards riskier parts of the market, including CMBS, Bank of America Merrill Lynch analysts say. German multi-family CMBS, with its granular pools of residential occupiers, could be the easiest entry point for newcomers used to buying RMBS, they said.
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A weekly roundup of securitization sectors with year-to-date totals in ABS, CMBS, RMBS and CLOs in the U.S. and Europe. -
The White Tower 2007-1 pan-European commercial mortgage securitization has seen its senior class of bonds downgraded by Fitch Ratings, due to heightened concerns over the leasing potential of the single asset underpinning the deal’s sole remaining loan.
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TwentyFour Asset Management will scope out higher-yielding, lower-rated tranches of U.K. and European asset- and residential mortgage-backed securities in a new £100-200 million ($161-$322.4 million) fund to launch in February.
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JPMorgan is in the market this week with a $175 million of floating-rate commercial mortgage-backed securities backed by the loan on the Palmer House Hilton hotel in Chicago, according to sister publication Real Estate Finance Intelligence.
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Primary issuance in Europe is close to being a wrap for 2012, according to securitization officials in London.
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The steady flow of new deals in Europe ahead of year-end continued with Delta Lloyd Bank subsidiary Amstelhuys pricing its Arena 2012-I Dutch residential mortgage securitization Friday—the first transaction to meet the recently launched Dutch Securitisation Association industry standard.
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Friesland Bank’s tender offer for several bonds in its Stichting Eleven Cities Dutch residential mortgage securitizations, at or above par, saw a largely positive take-up from investors.
