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Issue 237 - 8th June

  • News Analysis

    • RMBS
      • Maturing market

        Euro RMBS sector set for further spread tightening

        Changes made since the crisis have seen the European RMBS market become quite conservative, but there are encouraging signs that it is opening up again. At the same time, another round of spread tightening looks ever more overdue. The European RMBS...

    • Documentation
      • Robust regime

        European documentation issues examined

        European securitisation documentation has performed largely as it should have throughout the financial crisis. However, a number of hot-button issues still need to be resolved by the industry. One area where documentation has been tested in ways th...

    • CMBS
      • Landmark sale

        First full European CMBS enforcement completed

        The £288.2m sale of Aviva Tower closed last week, ending the series of property sales for the portfolio securing the £1.15bn White Tower 2006-3 CMBS. It is a landmark moment for the market, representing the first fully completed enf...

  • Market Reports

    • ABS
      • New issue boost for Euro ABS

        The primary European ABS market has seen a busy start to the week, with new issuance continuing to dominate investor focus. The Brass No. 1 RMBS is the latest transaction to price. "Quite a few new issues have hit the market over the last week. Tha...

    • CMBS
      • Negative tone prevails in US CMBS

        A negative tone prevails in the US CMBS sector, following the release of disappointing economic data. As a result, the market remains tense ahead of tomorrow's non-farm payroll results. "There has been a negative tone around the market this week pr...

    • RMBS
      • Negative knock-on effect for Euro RMBS

        Negative sentiment in the US appears to have had a knock-on effect on the European secondary RMBS market. However, participants believe that activity will bounce back ahead of the summer. "The European market has definitely been weaker this week an...

      • Sell-off weakens Euro MBS

        The European MBS market is exhibiting signs of weakness this week as dealers look to off-load stock. At the same time, controversy surrounds Deutsche Bank's new DECO CMBS with Fitch debating its triple-A status. "Sentiment feels weak at the moment....

  • News

    • CMBS
      • GGP refinances five malls

        As part of its drive to achieve US$5bn of refinancing this year (SCI 7 March), General Growth Properties (GGP) has confirmed the refinancing of five shopping malls, representing US$743m of new mortgages. Barclays Capital CMBS analysts believe this in...

  • Job Swaps

    • ABS
      • SF partner recruited

        Macfarlanes has appointed former Clifford Chance lawyer Rachel Kelly as partner. She will play a key...

  • News Round-up

    • CDO
      • ABS CDO liquidation due

        The holders of at least two-thirds of the aggregate outstanding amount of each class of Silver Marli...

    • CDS
      • CDS data services added

        CMA has launched two intraday CDS data services to deliver independent credit pricing data to front...

      • SME CLO criteria updated

        Fitch has updated its rating criteria for CLOs backed by SMEs loans. The agency has reduced several...

      • Singapore CMBS prepped

        CapitaLand is in the market with its second Silver Oak CMBS, ahead of the completion tomorrow of its...

      • CMBS loan losses examined

        Almost US$1.4bn in US CMBS conduit loans were resolved with losses in May, according to Trepp's late...

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