Another Fine Mezz Football, fermentation and financing
Jul 8, 2025
Dive into a fascinating discussion on a landmark wine and spirits deal and the excitement of busy public markets. Delve into the complexities of financing football stadiums, with case studies revealing the financial pressures clubs face. Explore investment trends, the challenges of accessing AAA-rated assets, and how regulations impact the market. The episode also highlights innovative securitization practices, including the unique challenges of financing wine collections and the evolution of music royalty investments.
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Strong Public Securitization Markets
- Public securitization markets remain strong with solid deal executions and tight spreads.
- Santander's £750 million deal and Livemore's later life RMBS note demonstrate high investor demand and efficient execution.
Tighter AAA-Rated RMBS Spreads
- AAA-rated RMBS spreads have tightened back to the year's tightest levels around 70 basis points.
- Investor appetite varies with some comfortable at wider spreads while bankers wonder if spreads can go tighter.
Need for Investor Diversity
- A concentrated investor base limits diversity of opinion on securitization spreads.
- More investor voices and dissent would create a healthier market environment.