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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.


  • Restructuring milestone

    Greek NPL transaction arranged

    Pillarstone has arranged a €174m restructuring in Greece for Famar, one of Europe&rsquo...

    News Analysis    14 December 2018
  • JV trend continues

    Landmark NPL transactions agreed

    Banco BPM announced this week a non-performing loan securitisation with Elliott International and Cr...

    News Analysis    14 December 2018
  • Bid scarcity

    European ABS market update

    A major UK bank is focusing efforts of European NPLs in the coming weeks, as spreads continue to wid...

    Market Reports    7 December 2018
  • Split-mortgages securitised

    PTSB completes second NPL transaction

    Permanent TSB last week completed its second major transaction to reduce its non-performing loan rat...

    News    5 December 2018
  • ESAs suggest 'proportion'

    Sector developments and company hires

    Aussie securitisation fund The Australian government has introduced a A$2bn Australian Business Se...

    Market moves    3 December 2018
  • SCI Start the Week - 3 December

    A review of securitisation activity over the past seven days

    Market commentary European ABS activity remained subdued last week, with spreads drifting wider, du...

    News    3 December 2018
  • Tax credits eyed

    Second Greek NPL ABS proposal unveiled

    The Bank of Greece has unveiled a securitisation scheme backed by its deferred tax credits (DTCs) th...

    News Analysis    27 November 2018
  • CRT tranche downgraded

    Sector developments and company hires

    Acquisitions Spruce Finance has been acquired by HPS Investment Partners. Spruce will be headquart...

    Market moves    21 November 2018
  • Tougher approach

    KNF stance puts Polish securitisation on hold

    The future of securitisation and closed-end securitisation funds in Poland remains uncertain, follow...

    News Analysis    21 November 2018
  • SCI Start the Week - 19 November

    A review of securitisation activity over the past seven days

    Market commentary Pepper Group is prepping an Australian RMBS that is expected to include a short U...

    News    19 November 2018
  • NPL transaction markets

    Sector developments and company hires in structured finance

    NPL deal markets Banco Santander Totta is in the market with Hefesto STC (Guincho), a €98...

    Market moves    13 November 2018
  • SCI Start the Week - 12 November

    A review of securitisation activity over the past seven days

    Market commentary The Dilosk No. 2 Irish legacy RMBS was in focus in the European primary market la...

    News    12 November 2018
  • Resolution framework

    EBRD expands Greek NPL foothold

    The EBRD is boosting its foothold in the Greek non-performing loan market with co-investments in Pir...

    News Analysis    8 November 2018
  • CLOs in demand

    Quarterly SCI data update

    Analysis of SCI's databases underlines the significant demand for CLO paper seen in 3Q18, in...

    News Analysis    23 October 2018
  • Performance blueprint

    Positive predictions for NPL securitisations

    Northern Italian non-performing loan portfolios are performing better than Southern Italian portfoli...

    Talking Point    19 October 2018
  • Market moves update

    Company hires and sector developments in structured finance

    Alternatives alliance DWS Group and Tikehau Capital have entered into an alliance, following Tike...

    Market moves    18 October 2018
  • Greek GACS?

    Greek government considering asset protection scheme

    The Greek government is considering the creation of an asset protection scheme as part of the state&...

    News Analysis    12 October 2018
  • Market moves - 28 September

    The latest hires and company developments in the structured finance market

    Canadian pension partnership Canada Pension Plan Investment Board (CPPIB) announced today...

    Market moves    28 September 2018
  • SCI Start the Week - 24 September

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

    Pipeline RMBS dominated the newly-announced deals remaining in the pipeline by the end of last week...

    News    24 September 2018
  • GACS expansion?

    UTP extension questioned

    The recent extension of the GACS guarantee scheme is expected to further fuel Italian non-performing...

    News Analysis    21 September 2018
  • Revised NPL templates published

    Insolvency data rendered more dynamic

    The EBA last week published a revised version of its standardised non-performing loan data templates...

    News Analysis    17 September 2018