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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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Northern Rock has increased the size of the offered tranches in Gosforth Funding 2011, going from £370m equivalent to nearly £600m on the back of exceptional demand for the euro notes.
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Lead managers Deutsche Bank, JP Morgan, Royal Bank of Scotland say books on Northern Rock’s Gosforth RMBS will close on Tuesday, with indications of interest totalling more than £500m, spread across the £370m A1 tranches that will be placed.
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Europe in the first quarter pushed out its largest quarterly volume of asset-backed securities in the past 12 months, issuing $7.65 billion in 10 European ABS, according to data provided to TS by Dealogic.
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Banca Popolare Vicenza, is set to be the third European bank to issue a prime residential mortgage securitization backed with Italian collateral since the collapse of Lehman Brothers.
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Rabobank and Société Générale are marketing a new RMBS from Obvion’s Storm programme.
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Banca Popolare Vicenza has announced the capital structure for the third post-crisis Italian RMBS, following a mandate announcement on Friday.
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Lead managers Deutsche, JP Morgan and Royal Bank of Scotland have released price guidance on Northern Rock’s Gosforth deal, at 135bp area over Euribor or Libor for the offered A1a and A1b sterling and euro tranches.
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New York-based financial services firm BlackRock is making three basis points of the total nominal value of the Federal Reserve Bank of New York’s Maiden Lane II portfolio, the paper bought from insurance giant American International Group in 2008 at the height of the crash.
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ABN Amro has agreed on a purchase price for its tender offer on the class E notes from its Smile 2005 synthetic collateralized loan obligation, following a one-week extension to the offer.