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

Six-line mezzanine UK non-conforming RMBS...

Covers have been released on a six-line mezzanine UK non-conforming RMBS BWIC which traded at 14.00 UK time today. The aggregate nominal amount was STG 47m. The list comprised: STG 5.5m of Aire Valley Mortgages 2004-1 (AIREM 2004-1X) Class 3D1 notes, which covered at 103.51; STG 20.9m of Preferred Residential Securities 7 (PRS 7) Class C notes...Read more

Structured Finance Daily Wrap: Alba 7 Class...

PRIMARY:  ABS  The Class A1 tranche of Alba Leasing's Alba 7 Srl was 2.1x covered, according to a deal update sent out mid-afternoon. Books will go subject tomorrow (17 April) at 10am UK time ahead of pricing in the afternoon via joint leads Banca IMI and SocGen CIB. This is the only publicly offered tranche.  The EUR 255.2m...Read more

Mixed investor response to Heidelberger...

The EUR 200m seven-year NC3 senior note from printing equipment and technology group Heidelberger Druckmaschinen has generated a mixed response from investors consulted. The group's market-leading position and geographic spread are being balanced against the cyclicality of the industry, the threat of technological change and the group's ongoing...Read more

Five-line EUR 89m peripheral RMBS BWIC trades...

The five-line peripheral RMBS BWIC due earlier this afternoon traded in full. The aggregate nominal amount was EUR 89m. The list comprised EUR 30m of Fastnet Securities 2 (FSTNT 2) Class A2 notes, which covered at 94.11; EUR 15m of HIPOCAT 10 (HIPO HIPO-10) Class A2 notes covered at 87.00; EUR 10.5m of Nostrum Mortgages 2003-1 (NOSTM 2003-1)...Read more

Abengoa prices EUR 375m 2020 senior note at...

Abengoa has priced its EUR 375m five-year NCL senior note at 7.00%/ 97.954 to yield 7.50%. Price talk was released earlier today at 7.50% - 7.75% including OID. Proceeds will be used to partially refinance the group's EUR 500m 8.50% 2016 senior notes. Citi and HSBC were global-coordinators and bookrunners. Bankia, Credit Agricole CIB, Morgan...Read more

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