Latest news
Latest news
€300m of reoffered bonds priced at par, another tranche to be placed privately
Deals including some commercial mortgages expected to follow
More articles
More articles
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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. -
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.
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European auto ABS issuers have been pushing up coupons and selling deals well over par as Euribor plunged, hoping their new deals can avoid the fate of older deals which are now trading effectively as fixed rate issues.
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Monthly issuance of European ABS carrying the simple, transparent, and standardised (STS) label exceeded €5bn in September, with total year to date STS issuance coming in at more than €30bn, according to S&P Global Ratings.
