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Cash SRT pipeline fires up earlier than usual
A new European data centre sponsor, Dutch buy-to-let back in business, CLO equity squeezed and a Bitcoin backed deal
€300m of reoffered bonds priced at par, another tranche to be placed privately
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UK challenger Atom Bank has sold a fully preplaced UK RMBS, Elvet Mortgages 2019-1, in a structure similar to the Pimco-sponsored securitizations of legacy UK mortgages — but not bought by the west coast investor, GlobalCapital understands. The £507m portfolio represents almost a quarter of the bank’s mortgages, based on its last published financials. -
UK based mortgage start-up lender, Perenna, aims to revolutionise the UK's mortgage market by introducing a 30 year fixed rate loan that will be financed with the same pass through covered bonds that are widely used in the Denmark.
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RMBS sponsors rushed to price new deals before the US market closed for the Thanksgiving holiday, with two deals clearing the pipeline on Tuesday, while a “milestone” RMBS crossed the finish line on Wednesday afternoon.
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Thinner liquidity at the end of the year and sterling buyers that know when a deal is struggling pushed Co-op Bank’s RMBS market return wide of guidance on Tuesday, pointing the way to a market that’s ready to shut up shop, outside of central bank-eligible sectors.
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NN Investment Partners (NNIP) has taken a majority stake in Venn Hypotheken, the mortgage lender set up by investment manager Venn Partners, it said this week.
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Clydesdale Banking Group followed other UK master trust issuers in backdating ‘Simple Transparent and Standardised’ status across the series, announcing on Monday that senior notes from 2015-1 onwards should be eligible for the designation.
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Following the placement of Miravet 2019-1 at the €350m minimum deal size, CarVal will need a second shot at the market to finance the remainder of the €500m pool of Spanish reperforming loans it bought from Blackstone.
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Retail banking is in vogue at Goldman Sachs: its Dutch ultra-prime mortgage lending programme made around €30m in revenue for the US bank last year alone. These deals include features the bank calls “RMBS 3.0” that could slash the costs of future refinancings.
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Atom Bank is bringing its second mortgage bond deal as European securitization issuers rush to market in the scramble to year end.
