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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The National Credit Union Administration said it has completed its sale of legacy collateral it took on during the crash and isn’t planning anymore future sales, dashing banks’ hopes that there might be another $15 billion of legacy securitizations waiting on the administration’s balance sheet.
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Lone Star Funds, a New York-based investment firm that purchases distressed debt and equity, has issued the first seasoned commercial mortgage-backed securities deal since the downturn.
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Northern Rock’s newly rebooted securitization program is not expected to be affected by the planned reprivatization of the government-owned bank, according to London-based market professionals.
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Paragon Mortgage will issue a new securitization of U.K. buy-to-let residential mortgages during the third quarter, likely sized at around £200 million ($322 million), John Harvey, head of structured finance, confirmed to TS.
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Credit Suisse is aiming for the next batch of National Credit Union Administration’s re-securitized legacy bonds, looking to compete with Barclays Capital for the rights to structure and market the $15 billion portfolio, according to an official close to the issue.
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George Osborne, the U.K.’s Chancellor of the Exchequer, has thrown his support behind the Independent Commission on Banking proposals that would require high street banks to ring fence their retail operations to minimize risk of a future crisis.
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Mario Draghi, governor of the Banca D’Italia and chairman of the Financial Stability Board, has criticized European and U.S. banks for trying to weaken new rules adopted by the Basel Committee on Banking Supervision.
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Japanese commercial mortgage-backed securities transactions were involved in more than 90% of negative rating actions in the Asia-Pacific in 2010, according to Fitch Ratings.
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Trustees administering residential mortgage securities could demand changes to securitization documentation if investigations from the New York and Delaware state’s attorneys-general lead to litigation, according to market participants.