Latest news
Latest news
It plans to include transactions backed by second lien fixed rate mortgages originated post-crisis
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
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Sterling paper dominated European securitization issuance last week as issuers rushed ahead of further Brexit developments, with a particular focus on the auto ABS market, which saw three deals clear the pipeline. -
Pepper Group subsidiary Optimum Credit has priced its Castell 2019-1 deal tight of guidance, while Yorkshire Building Society’s Brass No 8 RMBS was also priced, with senior notes tightening by about 5bp from initial price thoughts.
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Leeds Building Society has mandated Barclays, Citigroup and Lloyds to arrange Albion No 4, a prime UK residential mortgage securitization, set to qualify for the ‘simple, transparent and standardised’ (STS) regulatory framework. The deal comes as two more sterling RMBS deals are heading to be priced on Wednesday afternoon.
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Investors are eyeing a rush of sterling ABS and RMBS deals looking to push ahead through the Brexit window after the UK Parliament was suspended for five weeks beginning on Monday, with buysiders confident that spreads will withstand the rush of new supply.
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Banco Sabadell has mandated Deutsche Bank for a €1bn Spanish consumer loan ABS, set to offer three tranches with a floating rate coupon priced over three month Euribor.
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Buy-to-let mortgage lender Fleet Mortgages has agreed a funding line with asset manager One William Street after returning to the market in April, getting about £400m.
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In an otherwise slow week for the securitization market after the Labor Day holiday, observers are bracing themselves for a potentially market-moving development for the mortgage sector — the Trump administration’s release of its government-sponsored enterprise reform plan.
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Santander has announced that it is considering transitioning some Libor-linked notes issued by its Holmes Master Issuer programme to the Sonia benchmark.
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Yorkshire Building Society has mandated Bank of America Merrill Lynch and Lloyds, alongside joint lead managers Citi and BNP Paribas, for its upcoming Brass No.8, a UK prime RMBS deal offering two triple-A rated sterling tranches and a senior dollar tranche.
