Latest news
Latest news
Public versus private distinction scrapped for disclosure plus new, simplified templates for mature asset classes
Meanwhile, ADMT has set guidance for its $602m non-prime deal
Fortress agrees forward flow for €500m of unique assets
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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. -
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.
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Goldman Sachs has announced a new prime Dutch RMBS transaction from its EDML programme.
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The Co-operative Bank is mandating Bank of America and HSBC for a £993m UK RMBS, the sixth from the issuer's Silk Road shelf and the first offering from to be publicly issued since 2012.
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CarVal Investors is sponsoring Miravet 2019-1, a Spanish RMBS backed by legacy mortgage collateral formerly securitized in the Blackstone-sponsored SRF transactions. Barclays is holding the risk retention for the issue, though NatWest Markets is sole arranger.
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Principality Building Society has mandated HSBC and Lloyds to arrange its sixth UK RMBS deal, offering a single three year triple-A tranche after retaining its last deal in March due to concerns around the ‘simple, transparent and standardised’ (STS) label.
