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 U.K.-based Co-Operative Bank is planning a return to the primary issuance market with a U.K. prime residential mortgage-backed deal, Silk Road Finance Number Two.
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Deutsche Bank’s Deco 2011-CSPK CMBS was set to price on Friday at levels that market participants called exceptionally tight. The senior notes in the CMBS, the first single asset tranched CMBS since the crisis, are offered at 175bp over three month Libor — only 25bp outside where UK RMBS deals from Lloyds and Santander placed notes of similar maturity.
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Morgan Stanley has priced MSC 2011-C2, a $1.2 billion commercial mortgage-backed securitization Thursday, widening spreads in response to volatility in the secondary market in the last two days.
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Barclays Capital priced its final resecuritization of legacy National Credit Union Administration collateral at record tights.
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Europe’s bids-wanted-in-competition shot up to €3 billion (4.35 billion) in asset-backed securities last month, more than double the amount on offer in previous months, according to analysts at the Royal Bank of Scotland.
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Bankers are predicting a future private label residential mortgage securitization market where sell-side real estate investment trusts are set up to issue bonds bought by other buy-side REITs, specifically created to take RMBS exposure.
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Market players in London say pricing on Deutsche Bank’s DECO 2011-CSPK securitization, expected Friday, might be too aggressive.
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Brussels-based Dexia Bank’s decision to accelerate the liquidation of its $9 billion legacy U.S. subprime residential mortgage securitization portfolio will further hamper trading on the secondary market, according to a fixed-come head at a major bank.
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The primary market for U.K.’s residential mortgage-backed securities is set to swell with deals over the course of the year, as more first-time and return issuers look to tap renewed appetite for securitization among investors, market players said.