Securitization

Unicredit privately placed a €400 million ($530.8 million) of the €750 million senior tranche in its German SME CLO, Geldilux TS 2013.

The 2013-C15 transaction will offer investors 14 classes of notes. It's backed by 83 commercial mortgage loans secured by 136 properties.

The slower pace of new issuance in consumer ABS, especially from the historically largest ABS issuers, leaves the market without benchmarks to base pricing on, according to a report by Wells Fargo.

Wireless Capital Partners (WCP) plans to issue $150 million of notes backed by lease payments from wireless carriers.

A number of companies operated by AXIS Capital Holdings are seeking re-insurance through the catastrophe bond market.

The bonds are collateralized by first-lien tax liens imposed by the City of New York on real properties due to unpaid property taxes, sewer rents, sewer surcharges, and/or water rents.

The City of Richmond, California began sending letters to mortgage servicers and trustees offering to buy home mortgages at reduced prices or face eminent domain proceedings.

J.P. Morgan and Barclays will also act as the joint-bookrunners and co-lead managers on the transaction, which is expected to price August 6 and close August 19.

The Royal Bank of Canada sold its first euro benchmark covered bond since 2008, and signifies the re-opening of the European covered bond market for Canadian issuers.

Barclays anticipates that if both Freddie Mac and Fannie Mae sell the risk on all their ongoing issuance, issuance volumes could potentially reach $20 billion to $25 billion per year.

The notes are backed by a portfolio of 13,229 Hilton Resorts deeded timeshare interests with an aggregate balance of $255.12 million.

The $743.933 million deal is backed by 38 mortgages contributed from three sellers: Bank of America, NA, Morgan Stanley Morgage Capital Holdings, and CIBC.

Marriott Vacations Worldwide plans to issue a $250 million timeshare loan ABS, according to a Fitch Ratings presale report.

Toys “R” Us issued a £263. 2 million commercial mortgage-backed securitization, according to a Standard & Poor’s presale report.

Private student lenders have been pleading with their regulators for more flexibility as they wrestle with delinquent loans; they got an answer Thursday, but it wasn't what the one the industry had hoped for.

In the first quarter of 2013, rising house prices and relatively low interest rates helped improve the outlook for the riskiest tranches of residential mortgage-backed securities, according to CoreLogic’s bond tracker.

Both the rate of cumulative defaults and the size of newly default loans in the CMBS market continue to decline.

Carrington Mortgage Services has informed Fitch Ratings that RMBS it services will recognize about $300 million in losses on principal forbearance that has yet to be reported as losses

Ares Management is prepping its latest collateralized loan obligations, the $412.80 million Ares XXVII CLO, which brings the total amount of broadly syndicated collateralized loan obligations Ares manages to roughly $14.11 billion.

The notes are backed by one commercial mortgage loan totaling $200 million secured by the fee and leasehold interest in 123 Red Roof Inn hotels across 29 states.