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Latest news
Blackstone is targeting a quicker than usual three day execution
Triple-As were priced at 170bp over Sofr, close to guidance
US market remains the model as template issuance takes shape
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The EUR1.076 billion ($1.37 billion) Talisman-6 Finance commercial mortgage securitization is set to see its class E and F notes wiped out after the sale of the remaining properties backing the Cherry loan, one of nine securitized in the deal, led to a EUR40 million ($50.85 million) loss.
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European CMBS could make a comeback next year after a recent rally brought senior spreads well inside the average lending margin on UK office property, according to research from Citi.
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Pepper, an Australian non-bank mortgage lender, is marketing a residential mortgage-backed securities deal targeting Stateside investors with a U.S. dollar slice.
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Spreads in new issue U.K. prime residential mortgage-backed securities are set to tighten further as initial guidance on Virgin Money’s Gosforth 2012-2 deal emerged at three-month LIBOR plus 50 bps, +/- three basis points on Thursday, ahead of expected pricing on Friday.
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Donald Belanger, a managing director in Deutsche Bank’s European commercial real estate finance team in London, has left the firm.
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Investment bank Gleacher & Co. Securities has hired former UBS managing director Ted Kelleher to head its middle market fixed-income group.
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Virgin Money’s Gosforth 2012-2, which is being marketed to investors this week, is expected to be well-bid following the recent dearth of new issue securitization paper—but a sharp tightening may see some investors turn their back on the deal.
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Friesland Bank is tendering for bonds in several of its Stichting Eleven Cities Dutch residential mortgage securitizations at or above par, which could see the Netherlands-based mortgage lender take control of the majority of the outstanding bonds.
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Moody’s Investors Service said Monday the U.K. Financial Services Authority’s new rules on mortgage affordability, which take effect April 2014, will boost U.K. prime residential mortgage-backed securities among investors in the long-term.