October European securitization volumes opened with 3.3 billion (US$3.8 billion), adding to the bulging European pipeline. And with a number of new names marketing this week, the pace is maintained.
Caixa Geral de Depositos, Nostrum Consumer Finance means an additional 400 million (US$472 million) of consumer Portuguese paper for investors. Deutsche Bank is managing the deal, which is structured with five pieces ranging from triple-A to double-B.
The third Dutch RMBS transaction from GMAC-RFC Netherlands came onto the scene offering investors 474 million (US$559 million) of triple-A rated notes. The capital structure will also incorporate a single-A piece, triple-B piece and a double-B piece issued through ABN AMRO.
Royal Bank of Scotland also began preliminary marketing on its 500 million (US$590 million) Skye 1 Synthetic CLO Ltd. B, a synthetic CLO of European leveraged loans. Approximately 142 million (US$167 million) of rated notes are available, along with 52 million (US$61.4 million) of unrated subordinate notes.
