Latest news
Latest news
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
Fortress agrees forward flow for €500m of unique assets
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Jumbo RMBS issuance has picked up with new and repeat issuers coming to market with deals backed by strong collateral. However, while regular pre-crisis issuers are beginning to come back, the same cannot be said on the demand side where institutional investors are still wary of representations and warranties for new deals.
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Clydesdale Bank’s Lanark 2014-2 RMBS transaction was priced on Wednesday afternoon with €250m more euro denominated notes than the issuer’s previous offering, while the sterling portion was £75m lower. -
Prime jumbo RMBS is at risk of payment disruptions caused by borrower defaults on adjustable rate mortgages originated before the financial crisis, according to Fitch.
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Clifford Chance, the UK based global law firm, has tapped a team of five lawyers from Bingham McCutchen to bolster its structured finance practice in Washington, DC. The additions are a big move by Clifford Chance into both the RMBS and consumer ABS space.
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Pricing information was released for Starwood Waypoint Residential Trust’s first single family rental (SFR) securitization on Monday.
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NIBC Bank has retained the fifth securitization of prime Dutch mortgages from its Essence platform, from which it has previously placed deals privately.
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Clydesdale Bank is ready to print its second euro-sterling dual tranche UK RMBS transaction of the year, despite sterling proving a tricky hunting ground for the last couple of issuers that ventured into it with mortgage-backed bonds.
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A secondary reoffering of Voba RMBS bonds from Banca Popolare dell’Alto Adige could be at the head of a fresh wave of resales from periphery originators, particularly from Italy, as the secondary market effect of the European Central Bank’s purchases makes the economics of the exercise even more favourable.
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Delta Lloyd’s swapless Dutch RMBS became the European Central Bank’s first primary market ABS investment this week as the central bank tried to kick start the ABS portion of its purchase programme. But fears that participation in the sale will crowd out private investors have already been realised, some bankers say.
