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
More articles
More articles
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Yorkshire Building Society’s Brass No.2 RMBS is set to be the tightest UK RMBS since the financial crisis. The fall in absolute yields of new issues over the past two months could force RMBS back into more borrowers’ plans — though the buy-side is already lamenting the loss of absolute value.
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New rules to limit residential rent increases in France will reduce liquidity in the buy-to-let market, but are unlikely to have a credit impact on French RMBS and covered bonds, Moody’s said this week.
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Investec’s legacy non-conforming RMBS, Residential Mortgage Securities 26, was priced at par and comfortably inside its Gemgarto non-prime deal in April, demonstrating investors’ greater risk appetite in ABS.
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The Dutch RMBS pipeline grew further on Thursday, as NIBC announced a new issue from its Dutch MBS shelf, joining SNS Bank in preparing primary issuance.
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Before announcing a new RMBS from its Hermes shelf this week, SNS Bank had been grappling with ways of reducing swap costs while keeping investors reassured that their floating rate notes would be unaffected.
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Yorkshire Building Society priced the tightest UK RMBS since the financial crisis on Friday afternoon. Heavy oversubscription pushed leads to tighten pricing on Brass No.2 and increase the deal size, as ABS bankers pointed to a lack of UK supply.
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Investec Capital Markets has priced its non-conforming U.K. residential mortgage-backed trade, Residential Mortgage Securities 26.
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SNS Bank’s EUR960 million ($1.24 billion) Holland Mortgage Back Series (HERMES) XVIII Dutch residential mortgage securitization includes a rare preplaced fixed-rate tranche aimed at testing market appetite.
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Certain European securitization trades could be edging a step closer to seeing non-AAA rated senior tranches in deals—as achieving AAA ratings remains tough for issuers.