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Developer signs largest housing securitisation in the Philippines

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.

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The European Commission, Brussels

European Commission launches CMU Action Plan

The European Commission (EC) has launched its Capital Markets Union Action Plan, which could have far-reaching consequences for real estate finance and securitisation.

The five-year programme outlines the EC’s plans to build a single market for capital across all 28 EU member states and will see a raft of news rules introduced affecting sectors such as securitisation, infrastructure investment, and covered bonds.

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Jerrold Holdings HQ, Lake View, Cheadle Royal Business Park

HSBC, Lloyds, Natixis back £255m Jerrold securitisation

HSBC, Lloyds Bank and French bank Natixis have participated in a £255m revolving securitisation programme backed by Jerrold Holdings’ portfolio of commercial property lending companies.

The programme, named Lakeside Asset Backed Securitisation 1, will run until August 2018 and the funds will be used to back Manchester-based Jerrold’s commercial and residential property lending activities.

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