RMBS

  • NPL platform deal cements doValue foothold in Greece

    NPL platform deal cements doValue foothold in Greece

    Italian debt servicing specialist doValue is refinancing its acquisition of a Eurobank debt platform to position itself as a dominant NPL servicer in Europe, ready for the next generation of defaulted loans.

  • Mortgage holidays fail to deter UK RMBS buyers

    Mortgage holidays fail to deter UK RMBS buyers

    The level of Covid-19 payment holidays affecting specialist UK lenders in the UK and fears over the future of the country's economy have failed to dampen demand for their debt among UK RMBS buyers, with the lack of public issuance boosting interest in publicly placed deals.

  • Commission begins legislating NPL, synthetic STS

    Commission begins legislating NPL, synthetic STS

    The European Commission has included measures to improve the regulatory framework for non-performing loan securitizations in its latest coronavirus response package, while also beginning the classification of synthetic securitizations to qualify for the ‘simple, transparent and standardised’ (STS) designation.

  • UniCredit sells €1.5bn of NPLs

    UniCredit sells €1.5bn of NPLs

    UniCredit sold two non-performing loan (NPL) portfolios worth a combined £1.54bn over Tuesday and Wednesday this week, both through a securitization vehicle which sold notes to Barclays and Guber Banca.

  • Big demand for Coventry RMBS marks master trust evolution

    Big demand for Coventry RMBS marks master trust evolution

    Coventry Building Society (CBS) is racing to price Economic Master Issuer 2020–1, with the help of arrangers HSBC and Lloyds, to meet the huge demand for the deal, which is a hybrid between a master trust structure and a standalone RMBS — the first of its kind. The transaction, set to herald the next step in master issuer structures, is an innovation which could open the door to more financial institutions committing to long-term RMBS programmes, writes Tom Brown.

  • Coventry mandates HSBC, Lloyds for first UK master issuer since 2008

    Coventry mandates HSBC, Lloyds for first UK master issuer since 2008

    Coventry Building Society (CBS) has mandated HSBC and Lloyds to arrange its first issuance from Economic Master Issuer 2020-1, the first UK master trust structure set up since 2008. Books are building for the deal with initial price thoughts (IPTs) guiding the senior tranche in the low 50bps.

  • UK RMBS, Dutch ABS deals price in mid-summer dash

    UK RMBS, Dutch ABS deals price in mid-summer dash

    New deals have priced in the public securitization market this week from Together Money and Qander Consumer Finance, with triple-A notes for the latter breaking through guidance as issuers take advantage of a stabilising market.

  • Split views on UK RMBS secondary prices following stamp duty cut

    Split views on UK RMBS secondary prices following stamp duty cut

    UK RMBS traders have split views on whether a stamp duty tax cut will raise the price of the bonds on the secondary market, with commentators divided on whether banks tightening their lending criteria will cancel out a house-buying incentive brought on by the tax slash on July 8.

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