Weekly Issue Archive »

Issue 599 - 13th July

  • News Analysis

    • Capital Relief Trades

      • Return to form?

        More traditional synthetic CRE deals emerging

        A number of issuers are working on CRE capital relief trades, including some UK banks that issued CRE deals in 4Q17 (see SCI’s CRT database), with a view to closing before year-end. However, some of these transactions suggest that the asset...

    • NPLs

      • Multi-originator GACS deal debuts

        Iccrea Banca completes landmark NPL securitisation

        Iccrea Banca, the cooperative group owned by multiple Italian mutual banks, has issued a €1bn NPL securitisation of primarily secured loans. Dubbed BCC NPLs 2018, the deal is the first multi-originator GACS securitisation, as smaller Italian...

  • News

    • Structured Finance

      • SCI Start the Week - 9 July

        A look at the major activity in structured finance over the past seven days

        Pipeline With 4 July having a typically big impact on the issuance calendar, the pipeline was light last week. A smattering of US ABS came in at the tail end, along with one European transaction. A fairly small number of, mainly US, CLOs also appea...

      • Article 14 negotiations begin

        Amendment to reduce securitisation compliance requirements

        Trilogue discussions between the European Parliament, the European Commission and the European Council have begun on a compromise package that includes an amendment to Article 14 of the CRR. If ratified, the amendment would preclude non-EU subsidiari...

    • NPLs

      • NPL SPV established

        Barclays financing portfolio acquisition

        Barclays, Varde Partners and Guber Banca have acquired a €1.4bn non-performing loan portfolio originated by 53 cooperative, rural and popolari banks spread throughout Italy. The pool was purchased at 10%-13% of GBV and transferred to a secur...

  • Provider Profile

    • RMBS

      • Lender looks to bolster defences

        Private transactions may 'resemble securitisations'

        With a change in the credit cycle anticipated, some UK real estate lenders are adopting a more cautious strategy. One such firm is Octopus Property, which also recently created a head of structuring role (SCI 22 June) to help broaden its investor bas...

  • Market Moves

    • Structured Finance

      • Market moves - 13 July

        A weekly breakdown of recent hires and company developments in the structured finance industry.

        Acquisitions and investments Alantra has acquired KPMG UK’s portfolio solutions group business, which specialises in advising financial institutions in relation to non-performing and non-core banking assets globally. The team –...


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