Weekly Issue Archive »

Issue 212 - 8th December

  • News Analysis

    • ABS

      • Tough call

        Asset overhang weighs on European sentiment

        Volatility created by ongoing sovereign debt issues is making it tough to call spread trends in the European ABS and CLO markets. At the same time, concerns remain about how ECB actions and the legacy asset overhang could impact supply and demand. ...

    • RMBS

      • Less dysfunctional

        RMBS market infrastructure issues remain

        Market participants agree that, in the near term at least, European ABS volumes will largely be driven by growth in the mortgage market. However, while the RMBS sector is undoubtedly more functional than it was a year ago, a number of issues remain. ...

  • Market Reports

    • ABS

      • Euro ABS holds on

        The European primary ABS market is holding on for increased new issuance - which traders hope will roll in with the New Year. At the same time, the secondary market is eagerly awaiting news on a restructuring. "We're currently watching an...

    • CLOs

      • US CLO market rushing 'through narrow gates'

        A sudden rush of bid-list activity emerged in the US CLO market this week. However, despite the Plymouth Rock deal pricing with the tightest spreads of the year, investors are still holding out for 2011. "There has been an influx of bid-lists and a...

  • News

    • ABS

      • Restructured ARS tipped for relative value

        Restructured auction-rate and reset-rate securities could become a new source of supply in the student loan ABS sector next year, according to ABS analysts at Bank of America Merrill Lynch. Trading of auction-rate securities (ARS) in the secondary...

    • CLOs

      • Morningside, Plymouth CLOs price

        Two new US CLOs priced last week via Bank of America - GSO's US$400m Morningside Park CLO and PineBridge Investments' US$480.4m static Plymouth Rock CLO. This brings 2010's new issue CLO total to 11 deals for over US$4bn. Morningside Park...

    • Insurance-linked securities

      • Successor X offers third series

        Swiss Re's Successor X catastrophe bond programme is to offer its third series of notes. S&P has assigned preliminary ratings of single-B minus to the series 2011-1 class III-R3 and III-S3 notes, which reference will be exposed to major North...

      • Swiss Re brings longevity ILS

        Swiss Re Capital Markets is marketing a new longevity-related 'catastrophe bond'. The as yet unsized Kortis Capital's single tranche maturing in January 2017 has been assigned a preliminary double-B plus rating by S&P. Swiss Re, as the ceda...

    • RMBS

      • Master trusts move to mitigate Eurosail impact

        Moody's notes in its latest Credit Insight publication that a number of amendments have been made to UK RMBS master trusts to mitigate the potential rating impact of the Eurosail judgment (SCI passim). Most of the amendments are a variation on the th...

  • Job Swaps

    • CDO
    • CDS
    • CLOs

      • CypressTree sale closed

        Primus Guaranty has completed the sale of CypressTree Investment Management (SCI passim) -...

    • CMBS

      • CRE director named

        Cole Real Estate Investments has appointed Travis Bowers as senior director of underwriting. Bowers...

      • Advisory firm adds md

        NewOak Capital has appointed Rachel Gould as both general counsel and md, based in New York. Her res...

    • Real Estate

      • Capital markets evp named

        Cole Real Estate Investments has appointed Jeffrey Holland as evp and head of capital markets. He wi...

      • Ranieri chairman appointed

        Ranieri Partners has appointed Thomas O'Neill as head of two of its financial services companies. O'...

  • News Round-up

      • Repack CDO rated

        Eurocredit CDO V's double-A plus rated class A-1 notes have been retranched to form €83.3m...

      • Sovereign CDS risk reduced

        ReMATCH has reduced US$11.2bn in sovereign CDS trades in its second session since launching its new...

      • CDS auctions announced

        Auctions will be held on 9 and 10 December to settle credit derivative trades for Anglo Irish Bank C...

    • CLOs

      • Synthetic CLO completed

        Standard Chartered Bank has completed its sixth synthetic CLO, the US$1.25bn START VI CLO. A single...

      • CLO manager replaced

        Mizuho Alternative Investments is set to assign its collateral management duties for Mountain Capita...

    • Insurance-linked securities

      • Tool to reduce TBA fails

        Tradeweb has launched an electronic solution - in collaboration with BlackRock, Credit Sui...

      • Citadel RMBS remarketed

        F. van Lanschot Bankiers has successfully remarketed - via BNP Paribas, ING and Rabobank I...

      • NCUA in the market again

        The US National Credit Union Administration (NCUA) is in the market with its latest resecuritisation...


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