International law firm Brown Rudnick hired Frederic Rosenberg as a partner focusing on asset securitization in its New York-based structured finance group. Formerly from Weil, Gotshal & Manges, Rosenberg's experience includes more traditional and esoteric asset classes such as emerging market debt as well as music royalties and other IP assets. He was also part of the structuring and marketing of two sports facility revenue-backed securitizations for the Pepsi Center in Denver and STAPLES Center in Los Angeles. Brown Rudnick's structured finance group has been adding several partners to its New York office. In July, Thomas Cassidy joined the firm, bringing over 15 years of ABS and MBS experience, while Madeleine M.L. Tan was hired in May to focus on asset-backed, tax-advantaged and structured finance transactions.
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Spreads ranging from 16-18 basis points over the three-month, interpolated yield curve on the P1 (Moody's) and F1+ (Fitch) notes, to 160 to 170 over the benchmark on the class D notes.
April 25 -
Mortgage rates rose 7 basis points this week, Freddie Mac said, and more increases are likely following a weaker than expected gross domestic product report.
April 25 -
Broken down by product type, the agency's NJCLASS Standard Fixed product should account for a large majority of the loans, 75.4%. NJCLASS Consolidation will account for the next-largest group, 14.1%.
April 24 -
Congressional Review Act resolutions are ramping up ahead of the 2024 election cycle. Experts say that, although none are likely to become law, the resolutions are still powerful messaging and political tools.
April 24 -
The notes will price against Treasurys, with spreads expected to fall between 85 and 90 basis points over the benchmark.
April 24 -
The JPMorgan Chase CEO took aim Tuesday at the proposed Basel III endgame rules, hindrances to mergers and bureaucratic burdens. "I would love to have a more productive relationship with regulators, but I think it takes conversation," Dimon said.
April 24