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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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Paragon’s U.K. buy-to-let residential mortgage-backed trade Paragon Mortgages No. 17 priced Thursday morning, clocking in 15 bps inside of guidance and in line with where new issue U.K. prime RMBS were printing in July.
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UK buy-to-let mortgage specialist Paragon has sold the first publicly marketed single-A rated RMBS since the crisis, as part of a triple tranche offering that was priced well through guidance and garnered strong international interest.
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RBS hired Trez Moore as a managing director in its mortgage finance unit.
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A weekly roundup of securitization sectors with year-to-date totals in ABS, CMBS, RMBS and CLOs in the U.S. and Europe. -
Leads on UK buy-to-let RMBS Paragon 17 are testing investor appetite for the senior notes at 15bp inside initial price thoughts. At 135bp over Libor, the level is the same at which Co-operative Bank sold a prime RMBS transaction just three months ago — at the time the year’s tightest UK print — in a sign of how far spreads have tightened this year.
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Permanent TSB has seen a high take-up for bonds in its Fastnet 2 Irish residential mortgage securitization tender offer.
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Pricing on U.K. lender Paragon’s comeback buy-to-let residential mortgage-backed trade Paragon Mortgages No. 17 is imminent, with both the class A senior tranche and the lower-rated class Bs and Cs due to be sold to investors.
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As part of a long term shift in its funding strategy, France’s Crédit Foncier is to start issuing RMBS alongside covered bonds. It is set to begin with a private placement, which may be issued in the coming weeks.
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Paragon’s is set to price its latest RMBS around 100bp inside where the buy to let lender sold its last transaction. But it is still offering a decent pick-up to prime UK RMBS, bankers say.
