Latest news
Latest news
Timeline of collapse that rocked the UK bridging loan market
As well as deals backed by new loans, it will call and refinance 2023 deals
Meanwhile, BNP Paribas hires in structured finance
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Presales for Fosse 2010-2, the latest master trust RMBS from Santander’s UK subsidiary Alliance & Leicester, have given an indicative size of up to £1.5bn equivalent.
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A surge of demand from US investors helped Lloyds Banking Group overcome credit market volatility as it priced a £2.7bn equivalent RMBS from its Arkle master trust last Friday. Citi, Lloyds and Royal Bank of Scotland offered the deal in a range of currencies with no fixed amount on most tranches, but the overwhelming majority of demand came from dollar investors, particularly on the one and three year tranches. Some 61% of the total book was placed in the US.
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Santander’s Alliance & Leicester subsidiary is bringing its second RMBS of the year, just two months after its return to the securitisation market.
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A surge of demand from US investors helped Lloyds Banking Group overcome credit market volatility as it priced a £2.7bn equivalent RMBS from its Arkle master trust on Friday afternoon. Citi, Lloyds and Royal Bank of Scotland offered the deal in a range of currencies with no fixed amount on most tranches, but the overwhelming majority of demand came from dollar investors, particularly on the one and three year tranches. Some 61% of the total book was placed in the US. -
The malaise affecting the broader credit markets has yet to be fully felt in Europe’s securitisation markets, secondary spreads and primary issuance are showing.
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In its second jumbo issue in a month, Fortis Bank Nederland has privately placed Eu4bn of Dutch RMBS from its Dolphin master trust.
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Lloyds Banking Group has released the capital structure for Arkle 2010-1, the latest issue from its master trust backed by Lloyds TSB and Cheltenham & Gloucester originated mortgages.
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Loss severities in UK mortgage repossessions have reached an average of 35%, but remain within Moody’s expectations, according to the ratings agency.
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Rabobank and Société Générale have opened the books for Rabo subsidiary Obvion’s Dutch RMBS, Storm 2010-1.
