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Goldman preps ‘RMBS 3.0’ which could slash reissue costs
Retail banking is in vogue at Goldman Sachs: its Dutch ultra-prime mortgage lending programme made around €30m in revenue for the US bank last year alone. These deals include features the bank calls “RMBS 3.0” that could slash the costs of future refinancings.
21 Nov 2019 -
Atom Bank adds to RMBS pipeline as rush to year end begins
Atom Bank is bringing its second mortgage bond deal as European securitization issuers rush to market in the scramble to year end.
21 Nov 2019 -
Euro ABS issuers dodge swap costs in negative rate environment
European auto ABS issuers have been pushing up coupons and selling deals well over par as Euribor plunged, hoping their new deals can avoid the fate of older deals which are now trading effectively as fixed rate issues.
21 Nov 2019 -
CCB gets S&P on board for latest China RMBS offering
China Construction Bank, the largest originator in the Chinese RMBS market, is planning to launch a Rmb11.52bn internationally rated four tranche deal next Wednesday. It will include ratings from S&P Global Ratings and, for the first time, its local subsidiary.
21 Nov 2019 -
STS ABS issuance volume pushes past €30bn
Monthly issuance of European ABS carrying the simple, transparent, and standardised (STS) label exceeded €5bn in September, with total year to date STS issuance coming in at more than €30bn, according to S&P Global Ratings.
20 Nov 2019 -
Goldman announces new Dutch prime RMBS
Goldman Sachs has announced a new prime Dutch RMBS transaction from its EDML programme.
19 Nov 2019 -
Co-op Bank readies £993m UK RMBS after resolving dispute with Capita
The Co-operative Bank is mandating Bank of America and HSBC for a £993m UK RMBS, the sixth from the issuer's Silk Road shelf and the first offering from to be publicly issued since 2012.
19 Nov 2019 -
CarVal preps Spanish RMBS with Catalonia concentration
CarVal Investors is sponsoring Miravet 2019-1, a Spanish RMBS backed by legacy mortgage collateral formerly securitized in the Blackstone-sponsored SRF transactions. Barclays is holding the risk retention for the issue, though NatWest Markets is sole arranger.
15 Nov 2019 -
Principality taps HSBC, Lloyds for prime UK STS RMBS
Principality Building Society has mandated HSBC and Lloyds to arrange its sixth UK RMBS deal, offering a single three year triple-A tranche after retaining its last deal in March due to concerns around the ‘simple, transparent and standardised’ (STS) label.
13 Nov 2019 -
Carbon pricing 2050 target affordable for most homeowners today, says Moody’s
A carbon emissions tax on households will be affordable for most borrowers, so will not be a risk to RMBS and covered bond deals, Moody’s said on Tuesday.
12 Nov 2019
