"In the middle of difficulty lies opportunity"
Albert Einstein (1879 - 1955)

Structured Finance Daily Wrap: Paragon...

PRIMARY: RMBS Paragon Group has mandated Lloyds Bank, Macquarie Bank, Morgan Stanley and Natixis as joint lead managers for its latest UK buy-to-let RMBS transaction, Paragon Mortgages 21. The deal comprises three offered tranches: a Triple A rated Class A note, with 14.85% credit enhancement and 3.65-year WAL; a AA/ Aa2 rated Class B note with...Read more

Jaguar Land Rover USD 500m 5NCL senior note...

Price guidance has been released on Jaguar Land Rover’s USD 500m five-year NCL senior note at 4.25% - 4.375%. Books close at 17.30 UK time/ 13.30 New York time today (28 October); pricing thereafter. Issued out of Jaguar Land Rover Automotive PLC, the notes are expected to carry the existing ratings of Ba2/ BB/ BB-. Proceeds will be used...Read more

Four banks mandated on CHRIST financing...

Four banks have been mandated on the debt financing supporting 3i’s acquisition of a majority stake in German jewellery retailer CHRIST from DOUGLAS. Commerzbank, IKB, ING, and SocGen have agreed to underwrite the financing which is expected to launch to syndication later this week, market conditions permitting. A bank meeting is due...Read more

Paragon Mortgages 21 expected to price end of...

More details on Paragon's latest UK buy-to-let RMBS, Paragon Mortgages 21, have been released. The deal comprises three offered tranches: a Triple A rated Class A note, with 14.85% credit enhancement and 3.65-year WAL; a AA/ Aa2 rated Class B note with 7.75% credit enhancement and 4.10-year WAL; and a A/ A1 rated Class C tranche with 5.00% credit...Read more

APCOA Scheme sanction hearing and judgement...

The judgement and Scheme hearing to sanction the debt restructuring for APCOA will take place at 10.30 tomorrow (29 October) at the Royal Courts of Justice in London. As previously reported, the sanction hearing was originally set for 20 October but was delayed after FMS Wertmanagement (FMS) challenged the plan again during the fairness hearing on...Read more

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