If the ECB wants to provide more capital relief to Eurozone banks through its securitization-buying scheme than they would get by holding on to their assets, it will have to snap up mezzanine tranches as well, according to Fitch.
The $530 million of 10-year bonds are backed by 4,503 single-family rental homes; they were sold with a weighted average coupon rate of 4.395%.
The deals 10-year, super senior tranche yield swaps plus 85 basis points, 1 basis point tighter than a similar tranche of JP Morgan, Barclays' print in early November.
Retail real estate landlord Spirit Realty Capital plans to issue another $510 million of bonds backed by the triple-net lease receivables on 864 commercial real estate properties.
The single loan in the deal is backed by a multifamily complex in San Francisco.
Regulation AB governs registration, reporting and disclosure requirements for all things asset-backed. The Securities and Exchange Commission appears to be ready to update it significantly, but, nearly four years after changes were originally proposed, its not clear exactly what the Commission will do.
The proposal would introduce dissemination of trade prices for securities ranging from highly liquid credit card and auto ABS to smaller and more esoteric deals in asset classes such as time shares, to commercial mortgage-backed securities (CMBS) and highly structured CDOs and collateralized loan obligations.
As July came to a close, it was clear to everyone at ASR that the structured finance market was not about to take a vacation.
DFG Taps Goldman Vet, Barclays Bulks Up on CMBS, Ares Adds Jeffrey Kramer and the ASF Retains Mike Williams as Policy Adviser
Could higher yields end up deepening the investor base for asset-backeds?
Vice President of Regulatory Compliance
Firm: Clayton Holdings
In the news: How Ability-to-Repay Rules Could Reshape RMBS Market
Investors in catastrophe bonds are broadening their exposure by taking on multiple perils and increasing the time period during which claims can be included in coverage. Often they are doing so without any additional compensation.Current Issue