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Sunday, 09 December 2018

MBS

BAML presses ahead with year-end German CMBS

IFR 2263 8 December to 14 December 2018

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 and Italian RMBS retained

IFR 2263 8 December to 14 December 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.

Aussie RMBS growth raises risks

IFR 2262 1 December to 7 December 2018

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.

Elan pays up for second 2018 RMBS

IFR 2262 1 December to 7 December 2018

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.

Pepper nets A$1.25bn-equivalent

IFR 2262 1 December to 7 December 2018

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.

Dutch MBS moves back to par

IFR 2261 24 November to 30 November 2018

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.