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SCI - An Introduction
SCI is a specialist publisher of news and analysis on all aspects of the structured credit and Asset backed securities (ABS) markets. We break our coverage into news channels, so if you're looking for coverage of, for example Collateralised loan obligations (CLO), Residential mortgage backed securities (RMBS), Commercial mortgage backed securities (CMBS), Collateralised debt obligations (CDO), Credit default swap (CDS) or Insurance linked securities (ILS) we've got it covered. And there are several other news categories besides, covering all aspects of structured finance. SCI is a subscription service consisting of an intra-day breaking news service (via email) as the stories emerge, and a weekly news edition published on Wednesdays featuring in-depth analysis. SCI is aimed at the buy-side; our mission is to provide deeper and more accurate coverage of structured finance to market participants than is available elsewhere. Our readership includes portfolio managers, broker-dealers, hedge funds, CDO managers, asset managers, banks and CFOs the world over. Register for a two week free trial today or subscribe to SCI.
SCI also offers a series of conferences in London and New York. Our next event is a CDS Seminar in New York on July 1st 2010. Various sponsorship options are available if your company is targeting SCI's readership. SCI also offers training courses on both structured finance and insurance linked securities, together with our sister newsletter STORM (Synthetic Transfer of Risk Markets)
Marketing programmes are availabe to SCI's 5000 strong fully registered audience through various advertising programmes.
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Weekly News issue – click
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2 September 2010
CDOs
In an analysis of US CDO manager mergers and acquisitions occurring over the past two years, S&P has found that motivations for such activity appear to differ between 2009 and 2010.
So far this year, the agency counts nine separate collateral manager mergers or acquisitions, involving 33 separate CLO transactions and one CBO transaction. In all of 2009, there were 14 separate M&A...
1 September 2010
ABS
ABS recruitment begins to pick up as market returns
After a couple of difficult years in structured finance, 2010 has hinted at a return to normality as the market starts to recover and banks begin to rebuild their teams. Demand is strong for sales people, but other roles - such as analysts - are not yet seeing an up-tick.
One London head-hunter says: "I think we have entered a more traditional recruitment cycle this year. Man...
1 September 2010
CMBS
REMIC grandfathering to assist servicers
CMBS servicers and borrowers with distressed multi-property loans received a reprieve from confusing IRS regulations last month. Almost a year after the IRS initially made changes to REMIC rules, it issued Revenue Procedure 2010-30 to clear up loose ends.
When the changes that were published last September came out, they were perceived as a "big game changer for the industry", according to Matth...
1 September 2010
RMBS
Troubled loan buy-backs on the rise
A raft of troubled mortgages is being returned to their originators, as Fannie Mae and Freddie Mac exercise their put-back options. The GSEs are believed to be returning to the four largest US banks alone around US$10.7bn of loans, which they deem to have breached their representations and warranties.
The FHFA has issued 64 subpoenas to mortgage originators to ascertain whether private-label MBS...
26 August 2010
ABS
A new student loan ABS offering that consists entirely of Federal Family Education Loan Program (FFELP) student loans is marketing. Arkansas Student Loan Authority Loan Asset-Backed Notes series 2010-1 is expected to be triple A-rated, according to a Moody's pre-sale report.
The US$265m deal is expected to price over 3-month Libor. Almost 9% of the loans in the pool are expected to be loans firs...
24 August 2010
CLOs
Guggenheim Partners is marketing a US$600m CLO via Citigroup. The deal, which consists of three-tranches, includes a US$300m triple A-rated tranche, a US$100m mezzanine tranche and a US$200m equity tranche, say investors.
Most of the triple A-rated tranche is marketing currently, but the mezzanine and equity pieces could be already pre-placed with investors or taken by Guggenheim itself, says on...
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