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Meanwhile, BNP Paribas hires in structured finance
Aspire's first deal is a $391.28m non-prime securitization
Two lenders entering administration should signal to others: simplify the industry
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The dormant primary market for peripheral ABS showed rare signs of life this week, after Spanish retailer El Corte Inglés privately placed a consumer loan securitization on Tuesday and Irish bank Permanent TSB announced the first publicly marketed Irish RMBS since the financial crisis.
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U.K.-based Charter Court Financial Services is preparing to hit the road with its first U.K. residential mortgage-backed securitization, with Credit Suisse mandated to bring the deal to market as sole arranger and lead manager.
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Freddie Mac’s second risk-sharing transaction, STACR 2013-DN2, priced late Tuesday with investors oversubscribing the bonds multiple times, according to a person involved with the transaction.
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Blackstone’s Invitation Homes priced the first ever U.S. securitization of single family rental homes, with investors piling into the deal and sending pricing spreads on all tranches tight of guidance.
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At least 10 deals this week are marketing or expected to price soon, totaling $4.94 billion in asset-backed securities and $1.64 residential mortgage-backed deals, in the third straight week U.S. deal flow of ABS and RMBS has remained above $4 billion.
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Brian Bowes has joined StormHarbour Partners after three years at KGS-Alpha Capital Markets, where he led non-agency mortgage trading for CEO Levent Kahraman.
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Bookrunners on Blackstone’s $479.14 million securitization of rental homes are looking to price the transaction sometime this week, according to an announcement viewed by SI.
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ING and the Dutch government have agreed to unwind a facility put together in 2009 to protect the bank from risks in its then-EUR24 billion ($32.4 billion) portfolio of U.S. Alt-A mortgage-backed securities.
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The structures of future Dutch residential mortgage-backed securities are likely to evolve in response to the Dutch government’s overhaul of its Nationale Hypotheek Garantie scheme.