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Issue 209 - 17th November

  • News Analysis

    • CLOs
      • Retention requirements

        CLO CRD solutions proposed

        A CLO originator SPV structure has been proposed as a solution under Article 122a of the European Capital Requirements Directive (CRD), which comes into effect on 1 January. But some market participants believe that changes to leveraged loan document...

    • RMBS
      • Advantage transparency?

        Data demands dividing UK lenders

        Debate is intensifying about how the UK lending industry will meet the Bank of England's proposed requirements for data availability when the extension to the ABS discount window facility is implemented. The suggestion that data is made 'freely avail...

      • Retraining required

        Expanded skill-sets to become a necessity for RMBS 2.0

        Redwood Trust and PennyMac Mortgage Investment Trust each intend to complete RMBS deals early next year, while BlackRock is also preparing a fund that will buy jumbo mortgages with a view to securitisation. Whether these initiatives will revive US pr...

  • Market Reports

    • CLOs
      • Mezz appeal emerges in Euro CLOs

        A spike in secondary mezzanine and equity flows is driving interest in the European CLO market this week. As prices continue to tighten, traders report a strengthening across the capital structure. "The market has been fairly strong this week, with...

    • RMBS
      • US RMBS proving resilient

        US secondary RMBS has proved resilient to the recent foreclosure scandal and is exhibiting robust pricing levels. At the same time, a surge of investor interest in wrapped paper has created a buzz among traders. "There was a lot of noise about the...

      • Mixed message for Euro RMBS

        It has been a mixed week for European secondary RMBS. Although mezzanine paper continues to perform well, Irish sovereign credit concerns are the main focus for the rest of the market. "A lot of people are talking about the Ireland situation, which...

  • News

    • CLOs
      • US CLO pipeline gains visibility

        Price guidance has emerged for three of the four deals currently in the US CLO pipeline. First in the queue is GSO/Blackstone Debt Funds Management's US$400m Morningside Park CLO via Bank of America. The deal comprises US$265m triple-A rated class...

    • Insurance-linked securities
      • Thunder cat bond closes

        Mariah Re, the first ever catastrophe bond to solely cover severe thunderstorm risk (SCI 27 October) closed yesterday, 15 November. The US peril-focused US$100m single-tranche three-year deal priced at 625bp over Treasury money market funds. The tr...

  • Job Swaps

      • SF CDO manager replaced

        Ischus Capital Management has replaced GE Asset Management as collateral manager on Summer Street 20...

      • Credit trading head named

        Credit Suisse has appointed Jonathan Fletcher as director and head of its investment grade corporate...

    • CMBS
      • CRE firm adds svp

        George Smith Partners has appointed Eric Hamermesh as svp and director of its business development t...

    • Real Estate

  • News Round-up

    • CDS
      • Succession event pending

        ISDA's Americas Determinations Committee is mulling whether a succession event occurred with respect...

    • Insurance-linked securities
    • RMBS
      • REIT closes private RMBS

        Walter Investment Management has privately placed US$135m RMBS notes issued by Mid-State Capital Tru...

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