Latest news
Latest news
Asset manager hires non-agency RMBS portfolio manager
Schaafsma has long experience from Moody's and Standard Chartered
Senior lawyer joins firm's Los Angeles office as partner
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BNPP, HSBC, and Volkswagen Financial Services are expected to price the €665m Driver España Two Spanish auto loan ABS deal next week.
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The traditionally small investor base for UK RMBS has been hit with a wave of supply over the past three months. CarVal, Mars Capital, Precise and Paragon have all brought large UK RMBS deals to the market, and bankers have questioned whether the investors can continue to absorb this high level of supply.
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Mizuho International is pushing to upgrade its structured solutions business with two experienced banker hires, but has indicated a retreat from high yield by saying it will not replace its exiting European head of high yield credit trading.
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Mizuho International has hired two experienced bankers as co-heads of structured solutions, as it makes a push to upgrade its offering of structured products to clients. -
Banco Sabadell is rumoured to be interested in acquiring Granite, UK Asset Resolution’s portfolio of bad bank assets. The Spanish bank's acquisition of the assets could shock the supply-demand dynamic in the UK RMBS sector.
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The second deal from Co-op’s residential mortgage portfolio looks set to be a more modest transaction than the first, due to more challenging market conditions driven by high levels of supply and a limited investor base.
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Bank of America Merrill Lynch has circulated initial price thoughts on its €177 million Taurus 2015-3 DAC CMBS deal, the securitization of two loans to Starwood Capital’s MStar Europe commercial real estate joint venture with M7 Real Estate.
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The Co-operative Bank is going for size once again with its second UK non-conforming RMBS deal from the Warwick shelf.
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The volume of new issuance is steadily growing, with five auto deals currently in the market, three of which are expected to price late this week.
