Latest Securitization People & Markets news
Tesco Bank is said to have mandated Citi to run a sale process for its £3.7bn book of UK mortgages, after it decided to pull out of the market, blaming cut-throat competition. But the move has drawn attention to a proposed UK law to help ‘mortgage prisoners’, which could stop UK mortgages trading at all, writes Owen Sanderson.
JP Morgan picks levfin top brass — Ex-Barclays boss turns up at Wells Fargo — Fixed income portfolio manager leaves Mirova.
Business debt has reached near record levels that should give businesses and investors reason to “pause and reflect”, warned Jerome Powell, chair of the US Federal Reserve, this week.
HSBC has started a programme to sell some of its trade finance exposures in packaged, investor-friendly format, threatening a lucrative niche until now occupied by firms such as Greensill Capital. The bank, the largest trade finance lender in the world, has worked with AllianzGI to sell the short dated bond-like assets.
Tesco Bank is looking to sell its £3.7bn mortgage book after announcing that it will cease new mortgage originations. The lender is exploring options to facilitate a complete transfer, but the news has drawn attention to a bill proposed in the UK parliament which would grant borrowers the ability to transfer mortgages between providers.
As it continues to boost its platform, CLO manager DFG Investment Advisers announced on Tuesday that it has hired John Hwang as a director in its leveraged credit team.
A post-crisis CMBS loan tied to a UK retail property has defaulted, only the second CMBS 2.0 default seen to date, pointing to continued weakness in the retail sector.
John Berrigan, deputy director general at the European Commission, has said that the creation of a European safe asset, and in particular European Safe Bonds, would be difficult to achieve.
Credit Suisse has promoted Sheenal Thaker to its EMEA CLO corporate asset finance team, based in London.
The European CMBS market has defied its ineligibility for the European Securities and Markets Authority's (ESMA) new ‘simple, transparent and standardised’ (STS) securitization framework intended to boost confidence in the market. The asset class that appeared dead and buried after the financial crisis has outpaced other asset classes in recent times. But the resurgence did not stop one deal this week from suffering heavy investor scrutiny, writes Tom Brown.
Theresa May’s statement today that she will step down as leader of the Conservative Party on June 7 has increased the likelihood that the UK will leave the European Union without a deal, meaning capital markets need to prepare for the worst again.
Go to GlobalCapital's Securitization data pages for our dealflow database, plus details of priced European and US CLOs and structured finance bookrunner league tables.
Want full access to GlobalCapital?
If you are new to GlobalCapital or you already subscribe to some of our channels you can still easily extend your access.
Take a trial to the entire site or subscribe online to see all our capital markets news, opinion and data sets.
Don't miss out!Free trial
Read the magazine on your mobile device
Most Viewed: Securitization
- HSBC leads banks in selling packaged trade finance
- Green innovation: Dutch classify buyers, Germans mull strippable labels
- Planned sale of Tesco mortgage book kicks up fears of fresh ‘mortgage prisoners’
- Taking no prisoners? Citi starts sale of Tesco mortgages
- The 2019 GlobalCapital US Securitization Awards: The Winners
Latest news by market and league table performance
|Rank||Lead Manager/Arranger||Total Volume $m||No. of Deals||Share % by Volume|
Bookrunners of Global Structured Finance
|Rank||Lead Manager||Amount $m||No of issues||Share %|
|3||Wells Fargo Securities||31,464.27||90||8.40%|
|4||Bank of America Merrill Lynch||29,270.38||93||7.81%|