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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
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Royal Bank of Scotland has begun marketing its first securitisation of consumer assets since the credit crisis, a £4.65bn equivalent standalone prime RMBS.
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Europe’s securitisation market was in full flow this week with two deals priced and three entering the pipeline.
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ING, JPMorgan, Rabobank and Royal Bank of Scotland have begun roadshows for Aegon Levensverzekering’s latest Dutch RMBS.
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Rabobank and Société Générale have opened the books on Obvion’s Eu909m RMBS, Storm 2010-III.
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Santander UK has priced the first publicly marketed European securitisation since July, raising £1.25bn equivalent through its Fosse mortgage master trust.
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Volkswagen Financial Services is preparing a Eu475m securitisation of auto leases, the captive lender’s fourth securitisation of the year. Commerzbank and HSBC held roadshows this week for VCL 12 in Finland, Germany, France and the UK. Pricing is expected next week.
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Rabobank and Société Générale finished roadshows for a Eu909m Dutch RMBS from Obvion, Storm 2010-III, on Thursday.
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Price whispers for Santander UK’s Fosse 2010-4, a master trust RMBS, are in the 135bp-140bp area over benchmarks, according to investors.