Structured Credit Investor SCI's 3rd Annual Risk Transfer & Synthetics Seminar 2019
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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.


  • Test case

    Unsecured NPL transaction completed

    Bank of Cyprus has signed an agreement for the sale of a retail unsecured non-performing loan portfo...

    News    15 February 2019
  • Juno 2 completed

    BNL closes NPL securitisation

    Banca Nazionale del Lavoro has completed a €968m (GBV) non-performing loan securitisation o...

    News    11 February 2019
  • Leviticus closed

    Banco BPM completes NPL securitisation

    Banco BPM has completed a €7.4bn (GBV) securitisation of secured and unsecured Italian non-...

    News    8 February 2019
  • Nord LB acquisition dropped

    Bank opts for owner recapitalisation

    Nord LB’s owners have approved a plan to recapitalise the bank with funds from regional st...

    News    6 February 2019
  • SCI Start the week - 4 February

    A review of securitisation activity over the past seven days

    Transaction of the week Bank of Montreal has printed a US and Canadian leveraged loan capital reli...

    News    4 February 2019
  • NPL securitisation flourishes

    Extention of GACS to UTPs to fuel further growth?

    European NPL securitisation has flourished over the past two years, reaching a total of €15...

    News Analysis    4 February 2019
  • Growing momentum

    Regulatory provisioning boosts shipping NPL prospects

    The European Central Bank’s provisioning push has led to a more positive sentiment around...

    News Analysis    1 February 2019
  • CLOs retain top ranking

    Quarterly SCI data update

    CLOs remained the top asset class in terms of deal count for European and US new issuance in 4Q18, a...

    News Analysis    24 January 2019
  • Innovative ILS transaction launched

    Sector developments and company hires

    Auto ILS closed AlphaCat Managers has securitised a non-standard passenger auto insurance portfoli...

    Market moves    18 January 2019
  • Fintech deal completed

    Cerberus and Debitos close NPL transaction

    Cerberus has acquired a €2.1bn portfolio of Italian unsecured non-performing loans via onli...

    News    17 January 2019
  • SCI Start the Week - 14 January

    A review of securitisation activity over the past seven days

    Transaction of the week BBVA has completed an innovative transaction that synchronises credit event...

    News    14 January 2019
  • SCI Start the Week - 7 January

    A review of securitisation activity over the past seven days

    Transaction of the week Santander has launched an unusual synthetic securitisation of auto loans,...

    News    7 January 2019
  • Banca Carige placed into temporary administration

    NPL disposals 'could be accelerated'

    Banca Carige has been placed into temporary administration by the European Central Bank (ECB) follow...

    News Analysis    4 January 2019
  • SCI Start the Week - 17 December

    A review of securitisation activity over the past seven days

    Market commentary European CMBS BWIC activity swelled after the Taurus 2018-3 DEU deal priced last...

    News    17 December 2018
  • 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