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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Prepayment rates in UK RMBS have slowed dramatically, according to reports from the two biggest UK master trusts.
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Investor confidence in UK RMBS performance improved dramatically in the fourth quarter of 2009, according to a survey of market participants by Standard & Poor’s.
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HSBC and JPMorgan priced the Co-operative Bank’s debut RMBS on Tuesday afternoon, selling slightly more than anticipated to investors.
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HSBC and JPMorgan plan to price the Co-operative Bank’s debut RMBS this afternoon.
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The Co-operative Bank is marketing its debut RMBS, Silk Road Finance Number One, backed by prime mortgages originated by its Britannia subsidiary.
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Moody’s has upgraded Russian RMBS Gazprombank Mortgage Finance 2 a week after slashing the ‘A1’ notes to Caa2 when they were redenominated from euros into roubles.
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Lloyds Banking Group heralded the return of US investors to European securitisation last Friday when it priced a £2.5bn RMBS from HBOS’s Permanent master trust.
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European RMBS investors are expecting a slew of previously retained deals to be remarketed after SNS Bank this week sold a Eu1.4bn triple-A class A2 tranche of its Hermes 14 deal.
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SNS Bank set unofficial price guidance on Wednesday for a Eu1.4bn remarketing of a previously retained RMBS deal at 110bp to 115bp over Euribor, a level that investors think could be tightened by 5bp to 10bp before pricing.