Bank of America Merrill Lynch is braving challenging market conditions with a €475m German CMBS it hopes to price before the market closes for 2018.
Spanish credit union Caja Rural de Aragon, also known as Bantierra, has structured a securitisation of €272.5m Spanish residential mortgages. The deal, Rural Hipotecario XVIII, was arranged by Banco Cooperativo Espanol. It has not been seen publicly marketed.
Australia’s non-bank mortgage lenders may face higher funding costs in the RMBS market after Moody’s warned that the quality of their portfolios could dip as originators struggle to maintain strong growth.
Dutch lender Elan Woninghypotheken priced its Dutch RMBS EDML 2018-2 on Thursday, paying 55bp over Euribor for a €307.5m 2.8-year Triple A tranche.
Non-bank lender Pepper Group last Friday priced the Australian and US dollar tranches of the upsized A$1.25bn (US$913m)-equivalent triple-currency Pepper PRS 22 RMBS issue.
Two years after Dutch new issue RMBS started pricing above par and with pre-set coupons, spread widening in the asset class has pushed NIBC to par for its new Dutch MBS XIX trade.