On this week's episode of Another Fine Mezz, reporters George Smith and Victoria Thiele put up with a rather exhausted and jet lagged host, Tom Lemmon.
Arini priced its long-awaited debut European CLO but as is becoming the norm for new entrants into the market, both in Europe and the US, the firm had to pay a slight premium. However, that in itself is not a bad thing, as Victoria also wrote on Thursday.
Meanwhile, European securitization was beginning its descend into holiday hibernation with little primary market activity.
However, Nationwide's fully retained Silverstone deal is an intriguing development. The UK high-street lender's idea is to issue a fully retained prime RMBS before selling it on over the following 12 months in what they've termed a "stock and drop".