Issue Archive

---

• Issue 958 - 27th June

  • Vertical retention outperforms first loss by 1% in EU CLO equity IRR analysis

    Poh-Heng Tan from CLO Research provides insights on vertical vs first loss risk retention

    This study examines a sample of 83 EU CLO equity tranches that have traded via BWIC since July 2024....

    Full Contents

  ---

• Issue 957 - 20th June

  • Australian ABS undergoing period of transition

    Bank retreat diversifying securitisation landscape

    The Australian ABS market is undergoing a period of transition, driven by reduced activity from majo...

    Full Contents

  ---

• Issue 956 - 13th June

  • Secondary SRT market likely to remain a tactical option

    Analysing the current outlook for secondary SRT market volumes

    Back in April, when the announcement of “Liberation Day” tariffs by President Tr...

    Full Contents

  ---

• Issue 955 - 6th June

  • OHA and Madison Park Funding lead CLO equity BWIC landscape

    Poh-Heng Tan from CLO Research shares insights on OHA and Madison Park attracting standout bids, spotlighting vintage gaps in CLO equity BWICs

      Deal Closing Date Reinv End Da...

    Full Contents

  ---

• Issue 954 - 30th May

  • Reed Smith builds structured finance practice

    New partner to spearhead push in esoterics and others

    Reed Smith recruited Jeffrey Stern as a partner in its Financial Industry Group, based in New York,...

    Full Contents

  ---

• Issue 953 - 23rd May

  • Key takeaways from SCI's esoteric ABS seminar

    From data centres to IP royalties to aircraft ABS, NYC speakers highlight resilience, innovative structuring, and private placement benefits amid volatility

    Leading voices in structured finance stressed the esoteric asset market’s resilience and e...

    Full Contents

  ---

• Issue 952 - 16th May

  • New jurisdiction

    South African SRT imminent

    Landmark deal A large South African bank is closing in on its inaugural SRT transaction. The bank...

    Full Contents

  ---

• Issue 951 - 9th May

  • Energy efficiency loan deal agreed

    EIB Group and Cetelem partner on Spanish SRT

    Cetelem, BNP Paribas Personal Finance’s commercial brand in Spain, has finalised...

    Full Contents

  ---

• Issue 950 - 2nd May

  • EU CLO double-A bonds trade actively while US CLO equity market cools

    Poh-Heng Tan from CLO Research provides CLO BWIC highlights: Wide EU CLO double-A cover range, double-A term structure, and modest equity IRRs

    Last Thursday (24 April 2025) saw 27 tranches of EU CLO double-A bonds, with a total notion...

    Full Contents

  ---

• Issue 949 - 25th April

  • European ABS stands firm amid volatility

    European and UK ABS defy volatility with strong Q1 issuance, resilient demand and varied manager positioning strategies

    Despite growing geopolitical tensions, rate uncertainties and a spike in volatility toward the end o...

    Full Contents

  ---

• Issue 948 - 18th April

  • CLOs face volatility test amid record start to the year

    KBRA affirms confidence in structured credit resilience under strain

    The structured credit landscape entered 2025 with significant momentum, as US CLO issuance - includi...

    Full Contents

  ---

• Issue 947 - 11th April

  • Esoterics gather steam in APAC securitisation market

    Demand for new asset classes could bring rapid expansion of securitisation in region

    Traditional asset-backed securities in the Asia Pacific (APAC) region could become overshadowed by e...

    Full Contents

  ---

• Issue 946 - 4th April

  • Canyon Partners closes nearly US$1bn CLOs across US and Europe

    The latest deals bring the firm's CLO AUM to over US$10.9bn

    Canyon Partners has today closed two of its CLOs totaling nearly US$1bn. With these closings, the fi...

    Full Contents

  ---

• Issue 945 - 28th March

  • Marketplace lending entering 'cautious phase'

    Castlelake and PGIM warn of cracks in MPL sector as fintech models face recalibration

    Marketplace lenders are entering a more cautious phase in 2025 as the rapid evolution of their busin...

    Full Contents

  ---

• Issue 944 - 21st March

  • Acer Tree JV to expand CLO platform

    Partnership driven by the vision to grow AUM to €2.5bn-€3bn

    The run into difficult markets in 2023 has led to Acer Tree Investment Management’s decisi...

    Full Contents

  ---

• Issue 943 - 14th March

  • CLO secondary trades show appetite for equity tranches

    CLO Research Group's Poh-Heng Tan provides insights on recent CLO equity BWIC activity

    Timing is always crucial in trading, and it is no surprise that selling CLO equity tranches in today...

    Full Contents

  ---

• Issue 942 - 7th March

  • SEC-OCRA: simplifying the prudential framework

    New approach aims to address supervisory formula distortions

    A new paper presents a methodology for simplifying the prudential framework for synthetic securitisa...

    Full Contents

  ---

• Issue 941 - 28th February

  • SCI in Focus: Broader and deeper

    SRT supply and demand dynamics set to stabilise

    A recurring theme within the SRT market last year was its characterisation as ‘bank-friend...

    Full Contents

  ---

• Issue 940 - 21st February

  • Turning tides in shipping securitisation

    New shipping securitisation methodology to unlock investment-grade ratings

    A new ratings methodology from ARC Ratings could turn the tide on shipping securitisation, as it see...

    Full Contents

  ---

• Issue 939 - 14th February

  • Potential new player identified for SRT issuance

    SRT market update

    Financial sector research firm Autonomous Research (Autonomous) has identified a major European bank...

    Full Contents

  ---

• Issue 938 - 7th February

  • Middle market CLO boom to continue

    This year is expected to bring continued resilience, fewer defaults, and rising investor confidence

    Last year saw record-breaking middle market (MM) CLO issuance, fuelling massive growth in credit est...

    Full Contents

  ---

• Issue 937 - 31st January

  • EMEA RMBS strengthens following resilience in 2024

    Market forecast for stable to improving performance in 2025, supported by strong indicators

    The overall RMBS market in EMEA is expected to exhibit stable to improving performance in 2025, bols...

    Full Contents

  ---

• Issue 936 - 24th January

  • Strength prevails in European ABS

    European and UK ABS and MBS markets closed 2024 strong, overcoming challenges with stability and demand

    European and UK ABS and MBS markets closed 2024 on a resilient note, weathering broader macroeconomi...

    Full Contents

  ---

• Issue 935 - 17th January

  • Polish SRT

    SRT market update

    The European Bank for Reconstruction and Development (EBRD) and Poland-based commercial ban...

    Full Contents

  ---

• Issue 934 - 10th January

  • JP Morgan sticks to European CLO forecast

    Rising demand for carry trades and floating-rate assets bolsters optimism, despite lack of new loan supply

    The absence of new loan supply next year could impact JP Morgan's €45bn forecast for&nb...

    Full Contents

  ---