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Latest news
This is the second RMBS deal from the PIF-backed issuer
Volkswagen also added a UK auto ABS to the primary
Invictus, Annaly, JP Morgan to print a billion dollars each next week
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Yorkshire Building Society has set the size of its debut RMBS issue Brass No 1 at £750m, but will retain £350m to repo with JP Morgan.
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About $1 billion of credit facilitates could be extended to new real estate investment trusts this year to facilitate the warehousing of mortgages in the lead up to fresh private-label residential mortgage securitizations, according to officials.
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Yorkshire Building Society, a U.K.-based thrift, is set to launch its first foray into the residential mortgage-backed market with a new deal called Brass No. 1.
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Credit Suisse is shopping Alba 2011-RP1, a rare post-crisis non-conforming U.K. residential mortgage-backed deal.
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Yorkshire Building Society has launched its debut RMBS, Brass No. 1, into a booming ABS market. The lender has mandated Barclays Capital and JP Morgan for an all sterling deal, following a roadshow that will start next week in London.
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Lead managers Barclays Capital, JP Morgan, Morgan Stanley and Santander GBM gathered orders of £5.5bn equivalent for Santander UK’s Fosse 2011-1 this week. With 80 investors in the book placing 130 orders, Fosse is arguably the most broadly distributed European ABS since the crisis began.
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Credit Suisse is hoping to price the first non-conforming RMBS deal of the year and only the second transaction of its type since the crisis began. ALBA 2011-RP1 pools mortgages originated by GMAC, Mortgages Plc, Edeus, Wave Lending and Platform.
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NIBC Bank has picked Deutsche and Morgan Stanley as leads for its Dutch MBS XVI RMBS issue, which will be on the road from next week.
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A raft of landmark transactions, debut issues and exotic assets is underscoring the strength of the European asset-backed market’s long delayed revival. The first post-crisis CMBS, the second non-conforming RMBS, a Dutch RMBS, a revived Spanish auto deal — Driver España — and a first from Yorkshire Building Society are all due to break new ground shortly following the largest public post-crisis UK RMBS and VW’s Driver Nine.