Latest news
Latest news
PRA and FCA go much further than EU in loosening rules
Liberated issuers will still have to follow European regulations if they want to sell in EU
Citi prepares consumer ABS from Abound forward flow
More articles
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CLO market sources tell GlobalCapital that Natixis has been unable to successfully market a CLO reset on behalf of Trinitas Capital Management and will delay the offering until early 2019 as investors balk at tight spreads in a highly volatile market. -
LendInvest, a non-bank lender specializing in property lending and which operates an online marketplace lending platform, has boosted its capital markets and treasury team with the addition of four new hires and an internal promotion for the role of treasurer.
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Max Bronzwaer, the former treasurer of Obvion, has joined the Prime Collateralised Securities initiative (PCS) as a senior adviser.
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Permanent TSB announced last week that it sold a €1.3bn book of non-performing loans, Project Glenbeigh, which hit the securitization market last week in a full capital stack issuance underwritten by Citi. But though the Irish bank has sold the loans and booked the capital benefits, it is still the risk retention holder on the transaction.
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Lennar, the largest home construction company in the US, said on Monday it had completed the sale of its affiliated real estate finance business to Connecticut-based private equity firm Stone Point Capital for $340m.
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Non-bank mortgage lenders are feeling the squeeze as the housing market begins to slow and the era of robust mortgage refinancing activity nears its end.
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The European Supervisory Authorities have tried their best to protect securitization markets from potentially huge damage from January 1 when the new Securitization Regulation comes into effect, encouraging national regulators to apply their powers in a “proportionate and risk-based manner” when new rules come into force next year.
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The European Commission is pushing forward with plans to boost liquidity in the NPL market, promoting a privately owned electronic marketplace to improve transparency and encourage trading. It is inviting ‘industry stakeholders’ to a roundtable, with a plan supposed to be on the table by spring next year.
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UniCredit has sold a €590m portfolio of ‘large ticket’ exposures to two securitization vehicles managed by distressed debt investors.
