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• Opening up

  LatAm SRT activity gaining traction

  SRT activity in Latin America is gaining traction, with three deals now completed - including two in the last 12 months - and more on the horizon. Multilateral development banks (MDBs) are playing a crucial role in opening up the region. Edmund Par...

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• Completing the project

  SRT Market Update

  NatWest recently closed a project finance SRT transaction. The maturity of the deal is believed to be in 10 years, while both the tranche thickness and spread are described as “what is to be expected for the asset class” - albeit...

• UK SRT prepped

  SRT Market Update

  Lloyd’s is understood to be prepping a UK SRT deal, which will reference a portfolio of large corporate loans. One source believes the transaction will have a tranche thickness of 7%-8%, similar to Deutsche Bank’s previous two C...

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• SCI Start the Week - 22 April 2024

  A review of SCI's latest content

  *CRT Awards 2024* The submissions period for SCI’s 2024 Capital Relief Trades Awards closes on 31 May. Apply now to secure your chance to be recognised and celebrated by the SRT industry at a gala black-tie dinner at RIBA HQ! Qualifying...

• Uncommon assets

  SoFi Technologies CLN the forerunner of unusual asset CRTs

  The imminent SoFi Technologies CLN securitizing student loan exposure is said to be the harbinger of a new class of CRT deals in which lenders hedge exposure to rarely seen asset pools. Although this type of transaction incorporates uncommon assets...

• Fresh mandate

  Frank Benhamou joins Cheyne Capital

  Cheyne Capital has announced that Frank Benhamou has joined the firm as Portfolio Manager for its Risk Transfer strategy. The announcement followed the news that the London-based firm was re-entering the SRT market, having previously been active from...

• Bridging the gap

  Syndicated solution launches for portfolio insurance

  As appetite for structured credit solutions continues to grow, insurance balance sheets seem increasingly well suited to meet this demand. However, this brings new challenges for investors, (re)insurers and issuers alike. One such challenge is the...

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• FFELP loan 'waivers' proposed

  Market updates and sector developments

  The US Department of Education last week published a notice of proposed rulemaking (NPR) in the Federal Register regarding debt relief for certain federal student loans, including certain FFELP loans held by ABS trusts. Comments on the proposals are...

• Final FCA, PRA rules 'imminent'

  Market updates and sector developments

  HM Treasury has published a draft statutory instrument that outlines the next steps in the process of replacing the onshored EU legislative regime for securitisation with its own rules under the broader ‘Smarter Regulatory Framewor...

• Job swaps weekly: Cheyne Capital snaps up SRT veteran

  People moves and key promotions in securitisation

  This week’s roundup of securitisation job swaps sees Cheyne Capital hiring an SRT veteran who recently left their role at Barclays. Elsewhere, Wilmington Trust has made changes to its global capital markets leadership team, while a risk tra...

• ATLAS attracts MassMutual commitment

  Market updates and sector developments

  MassMutual has become a minority equity owner in ATLAS SP Partners and a capital partner to the ATLAS platform. As part of the multi-billion-dollar commitment, MassMutual has also agreed to invest in Apollo’s asset-backed finance (ABF) fran...

• Italian mortgage disposal inked

  Market updates and sector developments

  Barclays Bank Ireland is set to dispose of its performing Italian mortgage portfolio via a securitisation. Funds and accounts managed by GoldenTree Asset Management have entered into a commitment letter under which they will purchase certain notes to...