Latest news
Latest news
The £500m trade is the joint largest non-bank credit card ABS, matched by CoT’s previous deal
Lendco also added a UK BTL RMBS to the pipeline
This is the second RMBS deal from the PIF-backed issuer
More articles
More articles
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Fresh from the private placement of Storm 2011-1 and 2011-2 last week, Obvion is aiming to sell Strong 2011-I, a Eu1.2bn Dutch prime RMBS with a 100% NHG-guarantee. Rabobank and Société Générale are lead managers.
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Lead managers JP Morgan and Natixis priced Veneto Banca’s Claris RMBS 2011 on Thursday but while the A1 tranche was sold at the initial guidance, the A2 tranche required a wider price to clear.
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Eurosail-UK 2007 3-BL, a Lehman-sponsored UK non-conforming RMBS, is not insolvent, according to a Court of Appeal judgment handed down on Monday morning.
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Rabobank and ABN Amro opened a tender offer for the notes of Shield I, and the B-E notes of Smile 2005 on Wednesday, a pair of ABN synthetic securitisations for which it no longer receives capital relief.
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Skipton Building Society’s Darrowby No. 1 is set to be the next UK prime RMBS deal to hit the market, with JP Morgan and Royal Bank of Scotland running a roadshow in London on Thursday and Friday.
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Barclays Capital structured finance analysts this week highlighted risks to investors in the E-MAC NL 2004-1 and E-MAC NL 2008-1 Dutch RMBS.
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Lead manager Rabobank this week placed Eu1.5bn of Obvion’s Storm RMBS with a third party investor, following a Eu2bn private placement from the same series in 2010.
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Veneto Banca is set to offer a Eu560m RMBS after lead managers JP Morgan and Natixis took the issuer on a roadshow this week in a deal buoyed by spread tightening and a lack of alternative supply.
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Market participants expect a liquid UK prime RMBS to come to market soon after Royal Bank of Scotland said it will call all classes of its Arran 2006-1 deal on the first call date in April.