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
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Northview Group will test global demand for its UK RMBS, Finsbury Square 2018-2, despite the all-sterling capital structure of the deal. -
Fannie Mae priced its second issuance of securities tied to the Secured Overnight Finance Rate (SOFR) on Thursday, helping provide additional duration points on the SOFR curve as markets navigate the early days of LIBOR alternatives.
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Securitization investors in Europe are likely occupied more with analysing the heavy deal flow in the market than concerned about the overnight crash in US and Asian stock markets, with three trades in syndication, three more on the road, plus brisk CLO flow.
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The whole bottom of the rated capital structure in Rochester No. 2, a UK RMBS originally structured from Deutsche Bank’s non-core book, was out for sale in a BWIC on Wednesday afternoon, according to data from Empirasign.
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The ECB would like Piraeus Bank to raise tier two capital, but issuance over the past few months has proved too difficult. The bank can afford to wait for now — but it has a challenging road ahead.
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Two regular UK RMBS issuers announced new deals on Tuesday, adding to a busy pipeline for next week. The Northview Group mandated a new Finsbury Square deal, its second this year, while Together Financial Service unveiled its first securitization of the year.
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The Spanish supreme court’s recent ruling that banks should pay certain taxes on mortgage loans harmed the lenders’ trading levels and hindered primary debt market access. Ratings agency DBRS estimates that, in the unlikely worst-case scenario, the sector could face a retroactive bill of €16.9bn.
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Aegon’s mortgage subsidiary mandated five banks on Monday for a new Dutch RMBS, Saecure 16. It is an unusually large syndicate size, but one which reflects the vanilla nature of prime Dutch RMBS. Aegon is a rare issuer in the market, last doing a deal in 2014.
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Barclays has won a role as lead manager and "managing sponsor" on a new Irish RMBS from specialist finance group Dilosk, thanks partly to its willingness to hold the 5% risk retention in the deal. NatWest Markets arranged the deal, and is also a joint lead.
