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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Lone Star priced the latest Irish RMBS from its ERLS shelf on Tuesday, with arranger Morgan Stanley landing senior notes at a discount margin of 100bp, the wide end of initial thoughts, amid mixed investor reactions. -
Cerberus is marketing a new UK RMBS partly backed by the portfolio it repurchased from Metro Bank this summer, with the senior notes pre-placed and the rest of the stack handled by Bank of America’s trading desk.
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Several European banks sponsoring ABCP conduits have been investigating the possibility of converting these vehicles to the STS regime, but bankers say the risks outweigh the reward.
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As the Brexit deadline looms, issuers are rushing to get deals done before the end of the month. Lloyds has priced a prime RMBS, while Chenavari approaches the finish line with an Italian consumer deal.
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Kensington Mortgage has released initial price thoughts for its upcoming Finsbury Square 2019-3 RMBS following a US roadshow, as Together Money gets ready to price its own offering.
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Real estate investment firm Toorak Capital has closed a $350m securitization, the largest residential bridge loan RMBS to date.
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The ABS market is divided into camps over the necessity for a third level of NPL compliance, with participants coming out for and against more disclosure at a panel in True Sale International’s 2019 Conference in Berlin.
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Jesus Rio Cortes, a managing director at Bank of America Merilll Lynch in the EMEA securitization group, has joined Apollo Global Management.
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Paratus has mandated National Australia Bank, Standard Chartered and Natixis to run its second Twin Bridges RMBS of the year – with two of these firms pushing especially hard to establish themselves as UK RMBS arrangers in recent months and years.
