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China reforms NPL ABS as bad loans rise
The People’s Bank of China has started to allow banks seeking quotas to sell non-performing loan securitizations to shift from the old approval-based system to a registration-based system, onshore bankers told GlobalCapital China this week. The reform is set to speed up the pre-issuance phase and ease banks’ increasing pressure to dispose of bad loans.
17 Sep 2020 -
Big demand for Coventry RMBS marks master trust evolution
Coventry Building Society (CBS) is racing to price Economic Master Issuer 2020–1, with the help of arrangers HSBC and Lloyds, to meet the huge demand for the deal, which is a hybrid between a master trust structure and a standalone RMBS — the first of its kind. The transaction, set to herald the next step in master issuer structures, is an innovation which could open the door to more financial institutions committing to long-term RMBS programmes, writes Tom Brown.
23 Jul 2020 -
Alantra opens offices in China and Brazil, hires new advisory team
Alantra is buffing its credit portfolio advisory team with the addition of Marcus Evans and Christos Stefanidis, who will join as managing directors in the UK and Greece. The credit portfolio advisory firm is also opening up offices in Latin America and China.
27 May 2020 -
Goldman preps CMBS to finance Thai conglomerate’s UK hotel buy
Goldman Sachs has announced a deal called Magenta CMBS to finance Thai conglomerate DTGO Corporation’s purchase of 17 regional hotels across the UK from Marathon Asset Management. The deal is the first CMBS linked to Sonia, with the commercial real estate market proving slower than consumer assets classes to switch from Libor.
11 Feb 2020 -
Sinagpore’s ARA strikes deal to boost Venn Partners’ firepower
ARA Asset Management, a Singapore-based asset manager focused on Reits, has bought a majority stake in Venn Partners, a secured asset specialist investing in UK and Netherlands assets, in a deal which will boost the firm’s firepower in the mortgage and CRE debt markets.
15 Jan 2020 -
Chinese ABS market set to expand after 2019 surge
Volumes in China’s securitization market surged this year, with expectations high that the traditional auto ABS and residential mortgage-backed securities (RMBS) markets will continue strongly in 2020. But cracks are starting to appear in some of the other faster-growing asset types, writes Rebecca Feng.
18 Dec 2019 -
CCB’s latest RMBS welcomes record-high international bid
China Construction Bank, the largest originator of Chinese RMBS, wrapped up a Rmb11.52bn ($1.64bn) four tranche deal on Wednesday. It was just the latest of a regular series of mortgage-backed deals from the bank — but this time, it doubled-down on marketing to foreign investors.
28 Nov 2019 -
Ardshinbank postpones deal after roadshow
Armenian bank Ardshinbank has postponed a RegS/144A five year dollar loan participation note after a week on the road.
21 Nov 2019 -
CCB gets S&P on board for latest China RMBS offering
China Construction Bank, the largest originator in the Chinese RMBS market, is planning to launch a Rmb11.52bn internationally rated four tranche deal next Wednesday. It will include ratings from S&P Global Ratings and, for the first time, its local subsidiary.
21 Nov 2019 -
CCB RMBS sails through amid soaring trade tension
China Construction Bank had no trouble selling a Rmb9.87bn ($1.4bn) residential mortgage backed securities deal on Tuesday amid rising trade concerns, thanks to support from its underwriter group.
07 Aug 2019
