Latest news
Latest news
Invictus, Annaly, JP Morgan to print a billion dollars each next week
UK lender has placed €1.5bn of Dutch prime RMBS paper this year, doubling its annual issuance
Dutch mortgage provider launches its second public RMBS of the year
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A weekly roundup of securitization sectors with year-to-date totals in ABS, CMBS, RMBS and CLOs in the US and Europe. -
European securitization has turned in a decent performance so far in 2012, with year-to-date total returns for investors ranging from 1.7% in AAA-rated euro-denominated auto asset-backed securities to 14% in European commercial mortgage-backed securities, according to Citigroup ABS analysts in London.
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UK buy-to-let mortgage provider Paragon Group has renewed and expanded its mortgage warehouse facility with Macquarie Bank, allowing for larger issuance when it comes to market next year.
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Leads are set to price Virgin Money’s Gosforth 2012-2 RMBS at the tight end of guidance, with orders close to £1.5bn even at the lower spread.
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Relentless technical demand for ABS continued to drive pricing this week as another UK prime RMBS, Virgin Money’s Gosforth 2012-2, targeted a post-crisis record tight print, bringing funding levels closer to the Bank of England’s Funding for Lending Scheme.
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The Netherland’s Friesland Bank has offered to buy back five Stichting Eleven Cities RMBS at or above par, potentially enabling the lender to redeem the bonds early without the need for consent of other noteholders.
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Pepper, an Australian non-bank mortgage lender, is marketing a residential mortgage-backed securities deal targeting Stateside investors with a U.S. dollar slice.
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Spreads in new issue U.K. prime residential mortgage-backed securities are set to tighten further as initial guidance on Virgin Money’s Gosforth 2012-2 deal emerged at three-month LIBOR plus 50 bps, +/- three basis points on Thursday, ahead of expected pricing on Friday.
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Virgin Money is increasing its Gosforth RMBS by £250m to accommodate investor demand and is set to price the bond at a level that could compete with Bank of England funding levels.
