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This is the US asset manager's third deal of 2026, a year in which it plans to launch around $10bn of new paper
ABS primary market performs well after Iran strikes and fall of MFS
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Santander UK has mandated Barclays Capital, Bank of America Merrill Lynch, JPMorgan and Santander as joint lead managers for its forthcoming Holmes 2010-1 UK prime RMBS deal.
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Speculation mounted this week that at least one Italian RMBS would be launched in the next few weeks. Dealers reported that some investors claimed to have been shown up to four separate primary issues from Italy, which has yet to reopen for securitisation since the crisis.
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Lloyds Banking Group has added a floating rate sterling tranche to its latest RMBS, Arkle 2010-2.
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Price whispers for Lloyds Banking Group’s Arkle 2010-2 RMBS issue put the 2.82 year yen tranche at 110bp over Libor and the 4.82 year yen tranche at 115bp over.
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Investec and Barclays Capital this week unveiled the first new UK non-conforming mortgage securitisation since the credit crisis, Residential Mortgage Securities 25. The £186m deal is backed by mortgages mostly originated in 2007 and 2008 by GMAC RFC, Mortgages Plc and Investec subsidiary Kensington Mortgage Co.
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Santander UK announced on Thursday a restructuring of its Holmes master trust ahead of widely expected public issuance.
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UK specialist buy-to-let lender Paragon is to resume new origination after it secured a £200m warehouse facility from Macquarie Bank, signalling a potential return for the non-bank lending sector.
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Royal Bank of Scotland this week took the European securitisation market into the next phase of its recovery, becoming the first UK RMBS issuer to place mezzanine notes since the start of the crisis.
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Market whispers suggest Royal Bank of Scotland’s £4.7bn RMBS, Arran Mortgage Funding Series 2010-1, will be offered at 140bp over in three years and 150bp in five years.