Latest news
Latest news
Several banks are reining in their appetite for warehouse lending
TwentyFour priced its Dutch prime RMBS refi, Blackstone its sterling logistics CMBS
Blackstone is aiming to execute its CMBS before the market shuts for Global ABS
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Rothesay Asset Management North America promoted Robert Allard to a newly created role of chief investment officer and added Daniel Parisi as mortgage analyst in a move to ramp up its US structured finance team. -
Davidson Kempner Capital Management has mandated Bank of America for Stratton Mortgage Funding 2020-1, a UK RMBS deal made up of mortgages originated between 2002 and 2008. It was priced on Thursday and its 2.95-year senior notes landed at 90bp over Sonia.
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Piraeus Bank on Monday filed for a €1.9bn NPL securitization transaction under the Hercules Asset Protection Scheme (HAPS), making it the third Greek bank to apply since the scheme began. It is also looking to add another €5bn securitization later in 2020.
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The Bank of Cyrus has announced the sale of a €916m non-performing loan (NPL) portfolio to Pimco, dubbed Project Helix 2 after the first Project Helix cleared €2.7bn of NPLs from the bank’s balance sheet.
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Two NPL securitizations originated via the Italian guarantee scheme (GACS) have hit trouble following a fall in collections due to the coronavirus crisis, with the deals triggering interest payment shortfalls on the junior notes.
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Italian debt servicing specialist doValue is refinancing its acquisition of a Eurobank debt platform to position itself as a dominant NPL servicer in Europe, ready for the next generation of defaulted loans.
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The level of Covid-19 payment holidays affecting specialist UK lenders in the UK and fears over the future of the country's economy have failed to dampen demand for their debt among UK RMBS buyers, with the lack of public issuance boosting interest in publicly placed deals.
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The European Commission has included measures to improve the regulatory framework for non-performing loan securitizations in its latest coronavirus response package, while also beginning the classification of synthetic securitizations to qualify for the ‘simple, transparent and standardised’ (STS) designation.
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UniCredit sold two non-performing loan (NPL) portfolios worth a combined £1.54bn over Tuesday and Wednesday this week, both through a securitization vehicle which sold notes to Barclays and Guber Banca.
