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NPLs

NPLs refers to securitisations that are structured utilising non-performing loans from either one or a collection of loan issuers. Typically involving large whole loan portfolios from distressed asset investors or non-core asset disposals from a bank, NPL securitisations are a strongly growing part of the structured credit and ABS markets. NPL structures used to date include ABS, RMBS and CLOs, though it is likely that these will broaden to CMBS and beyond in time.


  • NPL ABS settled

    Multi-originator trend continues

    Twelve Italian popular banks - including Banca Popolare di Puglia e Basilicata and Banca di Credito...

    News    23 January 2020
  • SCI Start the Week - 13 January

    A review of securitisation activity over the past seven days

    Transaction of the week Goldman Sachs is marketing River Green Finance 2020, which is expected to b...

    News    13 January 2020
  • CLO losses expected after Constellis default

    Sector developments and company hires

    Constellis losses expected Moody’s warns that, at current prices, Constellis Holdings&...

    Market moves    10 January 2020
  • SCI Start the Week - 23 December

    A review of securitisation activity over the past seven days

    Transaction of the week A pair of Italian non-performing loan securitisations – dubbed Fu...

    News    23 December 2019
  • NPL boost?

    Hoist Finance acquires landmark French portfolio

    Hoist Finance has acquired a French non-performing mortgage portfolio with more than 3,500 claims an...

    News    19 December 2019
  • NPL ABS pair inked

    Guber, UBI Banca hit the market

    A pair of Italian non-performing loan securitisations – dubbed Futura 2019 and Iseo SPV &a...

    News    17 December 2019
  • SCI Start the Week - 16 December

    A review of securitisation activity over the past seven days

    Transaction of the week The National Bank of Greece has completed its first secured non-performing...

    News    16 December 2019
  • Riding the wave

    NBG offloads secured NPL exposures

    The National Bank of Greece has completed its first secured non-performing loan transaction. Dubbed...

    News    13 December 2019
  • CET1 ratios eyed

    Disposals, securitisations to protect bank capital

    European bank CET1 ratios have stabilised over recent years, as Basel 3 capital requirements and oth...

    News Analysis    12 December 2019
  • SCI Start the Week - 9 December

    A review of securitisation activity over the past seven days

    Transaction of the week NIBC recently priced the first fully-compliant ESG CLO, North Westerly VI,...

    News    9 December 2019
  • SCI Start the Week - 2 December

    A review of securitisation activity over the past seven days

    Transaction of the week Credit Agricole is marketing a securitisation of Dutch consumer loans origi...

    News    2 December 2019
  • Hercules tapped

    Alpha Bank preps NPL securitisation

    Alpha Bank is set to securitise a €12bn mixed portfolio of retail secured and unsecured loa...

    News    20 November 2019
  • SCI Start the Week - 18 November

    A review of securitisation activity over the past seven days

    Transaction of the week UniCredit has completed what is believed to be the largest European ABS tra...

    News    18 November 2019
  • ERLS returns

    Lone Star prints Irish NPL RMBS

    Lone Star has priced its latest Irish non-performing loan RMBS at the same levels as its previous ER...

    News    15 November 2019
  • Performance tracked

    Peripheral NPL ABS compared

    JPMorgan has launched respective performance trackers for Italian and Iberian non-performing loan se...

    News    12 November 2019
  • SCI Start the Week - 11 November

    A review of securitisation activity over the past seven days

    Stories of the week Pursuing illiquidity premia Corbin Capital answers SCI's questions Risk t...

    News    11 November 2019
  • Liquidation challenges

    Greek economy precludes enforcement option

    An improvement in economic fundamentals and reform efforts has boosted both the deal flow and prospe...

    News Analysis    8 November 2019
  • Rollover prepped

    NPL CRT to be refinanced

    Hoist Finance is readying a rated securitisation backed by Italian unsecured non-performing loans wi...

    News Analysis    7 November 2019
  • SCI Start the Week - 4 November

    A review of securitisation activity over the past seven days

    Transaction of the week Goldman Sachs is in the market with an unusual UK buy-to-let RMBS secured b...

    News    4 November 2019
  • Cautious optimism

    NPL ABS opinion welcomed, although challenges remain

    The EBA’s recent opinion on non-performing loan securitisations (SCI 24 October) has been...

    News Analysis    1 November 2019
  • GARC deal expected

    Sector developments and company hires

    EMEA Florent Trouiller has joined Norton Rose Fulbright as a partner in its Luxembourg office. Tr...

    Market moves    31 October 2019