Issue 181 - April 21st
-
News Analysis
- Whole business securitisations
-
WBS revival
Whole business securitisation interest stirs
Banks are in early talks to bring whole business securitisations back into the public's eye, accordi...
-
- ABS
-
Experience required
ABS recruitment trends assessed
As confidence gradually returns to the structured finance market, the associated job market is also...
-
- Legislation and litigation
-
Market reaction
Goldman CSO fraud hard to prove
The SEC's decision to bring fraud charges against Goldman Sachs in relation to Abacus 2007-AC1 CSO (...
-
- Whole business securitisations
-
Market Reports
- ABS
-
Strong rally
European ABS market activity in the week to 15 April
Sentiment within the European ABS market is overwhelmingly positive. A strong rally dominated the to...
-
- Trading
-
US CMBS rally accelerates
US CMBS market activity to 19 April
The secondary US CMBS market has experienced an escalating rally over the past few weeks with last w...
-
- ABS
-
News
- ABS
-
ILFC likely to wait on securitising
International Lease Finance Corporation (ILFC) increased the limit on liens of its consolidated tang...
-
- CLOs
-
Further clarity on Moody's CLO plans
Moody's has provided further details on its plans to potentially relax the default probability stres...
-
- Insurance-linked securities
-
Johnston Re cat bond markets
Guy Carpenter is marketing Johnston Re, a US hurricane catastrophe bond offering for ceding reinsure...
-
- Investors
-
BlueMountain positions for post-crisis opportunities
While many credit hedge funds have failed to emerge from the financial crisis intact, those that hav...
-
- ABS
-
Job Swaps
- ABS
-
EM partner switches firm
Peter Darrow has joined DLA Piper's corporate finance practice as a partner in New York. He comes fr...
-
-
-
Moody's analyst returns for new role
Moody's has rehired Andrew Jones, 17 years after he last worked there as a senior analyst for RMBS a...
-
-
-
Barclays veteran changes allegiance
Clydesdale Bank in London has appointed Stuart Trussler as director in its corporate and structured...
-
-
-
SIFMA names new securitisation head
The Securities Industry and Financial Markets Association (SIFMA) has appointed Richard Dorfman as m...
-
- CDS
-
Quantitative modelling specialist hired
Prudential Fixed Income has hired Bjorn Flesaker as md and head of quantitative modelling. His role...
-
- CLO Managers
-
Brigade Capital wins CLO mandate
Brigade Capital Management has taken on collateral manager duties for Camulos Loan Vehicle I, a CLO...
-
- CLOs
-
CLO investor recapitalised, top staff replaced
Saratoga Investment Advisors and CLO Partners are to purchase a minority stake in GSC Investment Cor...
-
- CMBS
-
CRE partner joins law firm
Steven Smith has joined law firm Perkins Coie as partner and will be in charge of the real estate gr...
-
- Emerging Markets
-
DB hires in EM credit
Deutsche Bank's emerging markets business has made a number of hires in Sao Paulo and Mexico City. R...
-
- Investors
-
Cairn takes on credit fund and staff
London-based credit asset management and advisory firm Cairn Capital has assumed management of the C...
-
- Regulation
-
ISDA names risk, reporting head
ISDA has appointed David Murphy as head of risk and reporting. He will be based in London and report...
-
- Structuring/Primary market
-
LAMCO to go ahead
Lehman Brothers Holdings has gained US court approval to establish a new asset management firm, dubb...
-
- Trading
-
ABS trader promoted
Deutsche Bank has promoted Pius Sprenger to head of trading for ABS and CDOs. He takes over from Gre...
-
- ABS
-
News Round-up
- ABS
-
Euro/US SF yield disparity still exists
European structured finance bonds continue to offer greater yield than comparable US SF bonds, accor...
-
-
-
Sallie Mae exec says consolidation expected
Jonathan Clark, evp and treasurer at Sallie Mae, says in the wake of the government-backed FFELP pro...
-
-
-
VW offers Spanish auto notes
Volkswagen (VW) Finance - stalwart of the German auto ABS sector - is offering i...
-
-
-
Spanish electricity tariff ABS closed
Notes issued by Alectra Finance, a Spanish electricity tariff deficits transaction, have been assign...
-
-
-
APAC upgrades match downgrades
Fitch downgraded 25 Asia Pacific securitisation tranches (including public, private, international a...
-
-
-
Concerns continue despite Spanish SF stabilisation
Fitch says arrears have begun stabilising across more Spanish structured finance sectors, but the ag...
-
-
-
Strong quarter for Indian ABS
Fitch says it has affirmed 17 publicly-rated series of Indian structured finance transactions in Q11...
-
- CDO
-
UBS marketing new CSO
UBS and M&G are in the market with a new CSO dubbed Ocelot III, according to an investor. As...
-
-
-
Bank Trups CDO defaults, deferral times up
Fitch says seven new bank defaults caused US bank Trups CDO default rates to hit 11.6%. There are 10...
-
- CDS
-
Determinations Committees kept busy
A number of ISDA Determinations Committee (DC) decisions have been made in recent days. First, the...
-
-
-
Basel 2 CVA proposals analysed
The Basel Committee's comment period on its consultative paper, 'Strengthening the resilience of the...
-
-
-
Vendor introduces CDS liquidity signals
CMA has published a review of liquidity signals in the CDS markets - the first in a series...
-
- CLOs
-
Small EM synthetic CLO rated
Moody's has assigned triple-A ratings to €39m of notes issued by Terra II Senior CLO &...
-
-
-
CLO amends interest proceeds definition
Sandelman Finance 2006-1 has entered into an amendment to the indenture that revises the definition...
-
-
-
CLOs amended to include workout securities
A raft of CLO issuers have entered into supplemental indentures that allow them to create one or mor...
-
- CMBS
-
Private placement for Dutch CMBS tap
Vesteda, the Netherlands residential property investment fund, has launched a €350m CMBS t...
-
-
-
NAMA transfer for Opera CMH loan
The junior loan in CMBS Opera Finance CMH - a CMBS predominantly backed by Irish real esta...
-
-
-
US CMBS delinquency increase 'largest on record'
The delinquency rate for US CMBS recorded its largest increase on record, rising by 69bp in March to...
-
-
-
'Drastic' rating action for Eclipse 06-3
In what has been described as a 'drastic' rating action, Fitch downgraded the class A notes of Gemin...
-
-
-
Monthly updates for EMEA CMBS specially serviced loans
As the number of loans going into special servicing increases, Moody's has launched a new monthly pu...
-
- Indices
-
PrimeX launch imminent
PrimeX, a new series of CDS indices referencing triple-A bonds in the US prime RMBS sector, is sched...
-
- Legislation and litigation
-
SEC brings fraud charges against GS
The Securities and Exchange Commission (SEC) on 16 April filed securities fraud charges against Gold...
-
-
-
California steps up Moody's legal action
Legal action is being taken against Moody's by the California Attorney General in order to force the...
-
-
-
AIG mulls possible legal action against GS
AIG is considering legal action against Goldman Sachs in order to recover losses incurred on US$6bn...
-
- Operations
-
Panel rues HAMP's lack of progress ...
The Congressional Oversight Panel (COP) has released its April report, evaluating TARP foreclosure m...
-
- Ratings
-
Improved outlook in seven SF sectors
Fitch says a number of structured finance sectors across EMEA are starting to benefit from the muted...
-
- Real Estate
-
US CRE prices drop after short rally
US CRE prices declined by 2.6% in February according to Moody's commercial property price index. It...
-
- RMBS
-
Euro RMBS pipeline builds
Lloyds TSB is set to launch its latest UK prime RMBS transaction from the Arkle Master Trust, with L...
-
-
-
... while latest report is criticised over redefaults
The Association of Mortgage Investors (AMI) says it believes that homeowners need a programme design...
-
-
-
Servicing uncertainty for RMAC/EMAC deals
Uncertainty over the future servicing quality for GMAC's European RMBS deals has increased as a resu...
-
-
-
No arrears impact for Granite ratings
Fitch says the ratings of 18 securitisations containing mortgage loans originated by Northern Rock,...
-
-
-
Australian, New Zealand performance 'relatively strong'
Fitch says 95 publicly-rated tranches backed by assets in Australia or New Zealand were affirmed dur...
-
- Secondary markets
-
Near-term CLO volatility possible
Near term volatility may come into play in the secondary US CLO market following Friday's announceme...
-
- ABS
-
Research Notes
-
-
ABC's of Credit
Byron Douglass, senior research analyst at CDR, looks at a long opportunity on AmerisourceBergen
The prospect of generating trading gains from spread tightening is diminishing quickly as the credit...
-
-
![]() ![]() ![]() ![]() ![]() |