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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
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Freddie Mac has released its issuance calendar for credit risk transfer (CRT) transactions in 2017, looking to increase its flexibility in when to issue deals in the coming year. -
Russia’s economy minister Alexey Ulyukaev was detained on Tuesday after allegations that he accepted a “grand bribe” from Rosneft in exchange for allowing it to buy Bashneft earlier this year.
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Bank of Scotland is to follow Yorkshire Building Society into the prime UK RMBS market, with UK institutions expected to remain active in the market despite the availability of cheap funding from the Bank of England’s Term Funding Scheme (TFS).
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Cerberus Capital Management sold a second deal backed by its portfolio of former Northern Rock loans last Friday, but the spread widening and coverage levels on the senior notes could be a sign investors are reaching a saturation point after a surge of supply in October.
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European ABS spreads widened briefly on Wednesday morning after the shock US election result, but quickly recovered.
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Central bank stimulus will weigh on UK RMBS issuance in the short term, but that could drag the market into becoming a more significant tool for bank treasurers.
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The first prime residential mortgage-backed securities deal from a bank or building society since the Bank of England introduced its Term Funding Scheme (TFS) in August is expected to be priced on Friday.
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US private equity firm Cerberus Capital Management has launched a new deal backed by UK mortgages from its portfolio of Northern Rock loans.
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Fannie Mae issued its sixth credit risk transfer (CRT) RMBS transaction this week, with investor demand for the bonds showing few signs of abating going into the final stretch of the year.
