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Meanwhile, ADMT has set guidance for its $602m non-prime deal
Fortress agrees forward flow for €500m of unique assets
Cash SRT pipeline fires up earlier than usual
More articles
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Italian banks are the most likely financiers of their own non-performing loan (NPL portfolio sales, thanks to the structure of the government guarantee scheme, and the difficulty of executing large NPL trades with external finance. Portugal, too, looks set to go down the same road.
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US mortgage credit risk transfer and single family rental bond sellers hopped across the pond this week to tap up new European investors for their credit products, with Freddie Mac and Colony American Finance speaking on a panel at Global ABS in Barcelona on Thursday.
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Despite quantitative easing measures contributing to persistent shrinking in the size of the European RMBS market, panellists at Global ABS on Wednesday were optimistic that the tapering of central bank funding schemes would see a resurgence of supply, as new non-bank lenders grow market share and banks look to refinance retained deals. -
UK buy-to-let deal Oat Hill No.1 and a pair of European CLOs were priced on Friday, as market participants prepared to descend on Barcelona for Global ABS, which kicks off Tuesday.
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Banking is the business of confidence and trust. While the real work of cleaning up balance sheets is important, being seen to act swiftly, decisively and comprehensively is just as important. Impressions matter — whatever the underlying reality.
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UniCredit’s flagship non-perfoming loan (NPL) sale, Project Fino — which stands for “failure is not an option” — will only raise 40% of its cash up front, with UniCredit granting Pimco and Fortress, the buyers of the €17.7bn portfolio, more than three years to pay the rest.
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Investors looking to take a punt on the Irish economic recovery should be pleased with strong annual results from the country’s ‘bad bank’, as well as a broad improvement in the domestic housing market.
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The Atlante II fund, the Italian bank-backed investment vehicle tasked with tackling the mountain of Italian non-performing loans, has been given the exclusive right to securitize the €1.6bn portfolio of Banca Monte dei Paschi di Siena (MPS).
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The UK RMBS market is picking up steam following the pricing of the year’s first prime offering from Principality Building Society and a buy-to-let offering backed by prime mortgages.
