Latest news
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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Dutch residential mortgage backed securities deals that have put options attached to them have come to light since the issuer does not have the funds to redeem the notes on the respective put dates.
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Senior tranches of core European securitization asset classes continue to show resolve despite sustained market turbulence in the region, with spreads in U.K. and Dutch RMBS tipped to remain inside of 200 basis points in the face of potential further deterioration in senior unsecured markets.
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UBS Securities and Citigroup last priced their $673.9 million commercial mortgage-backed securities deal, with the public, 30% credit enhanced bonds at the top of the capital structure seeing the tightest pricing since early summer.
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Mortgage applications increased 4.1% for the week ending Dec. 9 over the previous week, on the heels of a surge in refinancing applications, data from the Mortgage Bankers Association shows.
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A property securing one of the loans in Barclays Capital’s £894.5 million ($1.38 billion) U.K. conduit commercial property securitization Indus (Eclipse) 2007-1 has been sold for £3.22 million ($4.98 million).
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The limited availability of refinancing for maturing loans is seen as a key threat to the credit quality of outstanding commercial mortgage-backed securities deals next year, according to Moody’s Investors Service.
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Europe’s secondary space is seeing a flow of mezzanine paper into the market, as the primary issue pipeline remains empty and the market shows signs of wrapping up for year-end.
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Residential mortgage-backed securities trader Eric Daouphars has left Citadel Securities to join brokerage and investment banking firm Stifel Nicolaus in the non-agency space.
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New issuance volumes of securitization in Europe this year have reached EUR304 billion ($397.9 billion) in the past week as the market heads into the home stretch of 2011, though roughly two-thirds of paper continues to be retained.