Structured Credit Investor SCI’s 1st Annual Middle Market CLO Seminar26 June 2019, New York
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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.


  • Deleveraging continues

    UniCredit expands NPL ABS programme

    UniCredit has expanded its Sandokan non-performing loan ABS programme. While the transaction is bein...

    News    7 June 2019
  • JV announced

    Intrum acquires Piraeus platform

    Intrum is set to purchase Piraeus Bank’s servicing platform, which will be hived-off into...

    News    4 June 2019
  • Pillar prepped

    Public Greek NPL ABS debuts

    DBRS has provided the first public rating for a non-performing loan securitisation in Greece as the...

    News Analysis    31 May 2019
  • NPL securitisations eyed

    Fire, StormHarbour JV granted license

    Greek authorities have granted a license to EuPraxis, the joint venture between Italian servicer Fir...

    News Analysis    31 May 2019
  • LeaseCo boost

    Foundation laid for leasing NPL ABS

    Amendments to Italy’s securitisation law are expected to boost securitisations of non-perf...

    News Analysis    24 May 2019
  • Real estate upside

    National Bank of Greece opts for NPL ABS

    The National Bank of Greece intends to securitise €3bn of non-performing mortgage loans by...

    News    20 May 2019
  • Promising prospect

    Synthetic UTPs contemplated as IFRS 9 hedge

    Synthetic securitisations referencing unlikely-to-pay loans are a more promising prospect than synth...

    News Analysis    17 May 2019
  • Seeking refuge

    NPL securitisation disclosed

    Hoist Finance has confirmed in its latest 2019 interim report that it will securitise part of its no...

    News Analysis    16 May 2019
  • SCI Start the week - 13 May

    A review of securitisation activity over the past seven days

    Transaction of the week Last week saw an unusual Irish CMBS hit the European pipeline, from debut...

    News    13 May 2019
  • NPL securitisation inked

    Portuguese issuer returns to market

    Caixa Montepio Geral has returned to the market with its second NPL securitisation, dubbed Gaia Fina...

    News    8 May 2019
  • NPL acquisition completed

    Hoist Finance purchases Getback portfolio

    Hoist Finance has acquired a PLN400m non-performing loan portfolio from Polish servicer Getback. Ove...

    News    3 May 2019
  • Line-up finalised

    NPL event includes UTP workshop

    The line-up for SCI’s 2nd Annual NPL Securitisation Seminar on 13 May has been finalised....

    News    3 May 2019
  • Global opportunities

    Cerberus completes first dedicated NPL fund

    Cerberus has closed a US$5.1bn dedicated non-performing loan fund. Dubbed Global NPL Fund, it target...

    News    25 April 2019
  • Foreclosure uncertainty

    ECJ ruling leaves Spanish NPL investors in the dark

    The European Court of Justice’s (ECJ) 26 March judgement on early-termination clauses in S...

    News    12 April 2019
  • BWIC boom

    Quarterly SCI data update

    The first quarter of a year is usually quieter than the previous quarter and, for the most part, 1Q1...

    News Analysis    11 April 2019
  • Real estate relief

    NPL provisioning rules published

    The European Council of Ministers has adopted new rules for the provisioning of non-performing loans...

    News Analysis    10 April 2019
  • Positive outlook

    UTP securitisation prospects improve, despite challenges

    Future issuance of unlikely-to-pay (UTP) securitisations depends on the resolution of two challenges...

    News Analysis    5 April 2019
  • Obstacles remain

    European Parliament postpones NPL trading vote

    The European Parliament on Monday (1 April) postponed a vote on a non-performing loan secondary mark...

    News    3 April 2019
  • GACS successor

    New Italian NPL scheme launched

    The Italian government has introduced a successor to the GACS scheme. The replacement guarantee feat...

    News    22 March 2019
  • Control pursued

    Indian distressed debt unit established

    Deutsche Bank is setting up an asset reconstruction company (ARC) in India to buy and sell restructu...

    News    21 March 2019
  • GACS alternative?

    Investor group completes NPL securitisation

    A group of investors led by Värde, Guber and Barclays have acquired an approximately &e...

    News    15 March 2019