European Securitization
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GlobalCapital discusses whether private credit and BSL CLOs are really as adversarial as is often thought, while we also digest a tasty Pepper trade -
Despite the market traditionally having a quiet January, Westpac issued A$2bn of prime RMBS paper
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Domivest’s Dutch BTL trade has provided a benchmark for Citi
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Manager avoids refinancing the majority of the triple-A rated notes
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Borrowers moving between the two markets create opportunities for both
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Syndicated leveraged loan and private credit markets share borrowers in a mutually beneficial way, but underwriting criteria could weaken
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UK lender prices tightest deal for a year, reversing spread widening
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◆ Junior note lands tight to Class As ◆ No concession needed ◆ Lack of sterling supply allows for tight pricing
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Deal is the bank's first green mortgage securitization for 18 months
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Pepper sets final pricing for its non-conforming RMBS
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Strong demand from investors allowed deal size to be increased
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Issuer returns with BTL RMBS after a year out of the market
