Patron Capital and Dutch brewer Heineken have completed the purchase of the FTSE 100-listed Punch Taverns – the UK pub chain which is financed by circa £1.32 billion (€1.42 billion) of debt across two securitisations.
Optimum Credit, a non-bank mortgage lending platform owned by investment firm Patron Capital, has completed its first securitisation of UK second-charge mortgages, according to Real Estate Capital's sister title, Private Debt Investor.
Deutsche Bank and alternative advisory firm Tyndaris have provided an €80 million refinancing of a five-star Italian resort through a private securitisation.
8990 Holdings Inc (8990) has mandated China Bank Capital to arrange and underwrite a PHP5 billion-worth ($107 million) securitisation of contracts to sell (CTS). 8990 subsidiaries will sell the CTS in receivables to a special purpose company (SPC) of China Bank Capital, which will then issue three tranches of asset-backed securities (ABS) to investors.
The Italian government’s EU deal allowing it to provide guarantees to the country’s banks for securitising non-perfoming loans could be helpful to the European CMBS market.