European Securitization
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First CMBS trade since Elizabeth Finance senior default due soon -
Sterling securitization fires back up with buy-to-let RMBS as Belmont Green also enters
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◆ EU ABS buckles up for hectic ride ◆ CLO investors fight over OC tests
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Investors have done better at standing their ground so far this year but managers want looser terms
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Triple-As in the European primary market are back up to 130bp after early-August shake-up
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Managers have had to crank up spreads to lure investors into euro deals since early August volatility
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Deals emerge ahead of September pack to lure investors
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◆ Promising Risk Control paper ◆ Acer Tree returns to euro CLOs
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Tranches from both managers priced up to 75bp wider than deals in early August
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Market association supports Ucits eligibility in response to ESMA call for evidence
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Whether due to illiquidity or volatility, the promised surge of reset activity will arrive next month at the earliest
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Risk Control's paper directs regulatory discussion at securitization's economic potential
