- Supposed froth in fixed income doesn't square with the results of Blackstone's (BX +1.2%) latest rental bonds - ABS backed by the monthly rent on parts of its massive stock of single-family homes. The $108.5M tranche of the $993M deal with the least protection was priced to yield 375 basis points more than a borrowing benchmark, reports Bloomberg, the highest end of the hoped-for range, and 50 bps higher than a similar slice of a deal earlier this month from American Homes 4 Rent.
- The top-rated $477.5M tranche priced at 100 bps over one-month Libor - the same as the AMH deal - but all the other tranches came in at wider spreads.
From other sites
at CNBC.com (Jun 3, 2015)
at CNBC.com (Jun 2, 2015)
at CNBC.com (May 22, 2015)
at CNBC.com (Apr 8, 2015)
at CNBC.com (Jan 21, 2015)
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