Latest news
Latest news
Despite a tepid response in a 2024 consultation, there are signs EU authorities are laying the groundwork
European and high yield chiefs to take the reins
Kevin Duignan to retire after 33 years, mainly in structured finance
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California-based commercial real estate marketplace lender Money360 has added CMBS expert Gary Bechtel as president. Speaking with GlobalCapital, Bechtel said the company would potentially be looking to tap the securitization market for funding in the future.
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Volkswagen’s Driver España deal priced in line with guidance on Tuesday, with ABS investors clearly undeterred by Monday’s 20% drop in the benchmark issuer’s share price as a result of the US emissions data scandal.
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Bank of America Merrill Lynch has circulated initial price thoughts on its €177m 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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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.
