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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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A bids-wanted-in-competition list comprising U.K. commercial mortgage-backed paper and some rarer German small-to-medium enterprise collateralized debt obligations saw four of its five bonds trade late on Tuesday.
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Obvion’s Storm 2012-4 RMBS attracted around €1.6bn of orders on Wednesday morning, leaving the deal well oversubscribed and allowing leads to tighten price indications on the A2 tranche.
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Several second tier U.K. lenders are said to have put on hold plans to roll out residential mortgage-backed issues as a result of the Bank of England’s Funding for Lending Scheme, again raising concerns about the impact the program will have on securitization volumes.
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Stateside, investors were seen clamoring for one lone ABS deal, a farm and construction equipment transaction from John Deere Capital, that priced tight amid the otherwise barren ABS primary landscape. -
Leads on Obvion’s Storm 2012-4 RMBS, JP Morgan and Rabobank, have resisted the urge to be overly aggressive with initial price thoughts for the deal.
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Dutch lender Obvion has returned to market with the fourth securitization of prime residential mortgages from its STORM program this year.
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As European securitization continues to be an “issuers’ market,” conditions for more non-conforming, buy-to-let and commercial mortgage-backed deals to come to market look favourable, London-based officials say.
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Investors queuing up for Obvion’s Storm 2012-4 RMBS have pushed bookrunners to increase the planned size of the offering, ahead of price guidance being announced.
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Dutch mortgage lender Obvion is aiming to issue its fourth Storm RMBS of the year next week, a deal that is likely to be the first European prime RMBS in more than a month.
