Issue 248 - 24th August
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News Analysis
- ABS
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Open minds
Investors look beyond traditional ABS for yield, stability
Volatility and uncertainty in traditional markets are driving some investors to look further afield to attain diversification and yield. Non-traditional ABS sectors have seen a significant rise in activity this year and the trend is set to continue f...
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- CLOs
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Limited downside?
Optimistic CLO equity outlook garners investor interest
CLO equity is proving its mettle, with prices remaining resilient in the face of broader market volatility. New investors are looking to participate in this area of the market as industry insiders predict a strong case for CLO equity performance over...
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- ABS
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Market Reports
- CLOs
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US CLO equity holding up
Market volatility continued last week, with macro concerns - such as the contraction reported by the Philadelphia Fed and continuing Eurozone worries - weighing on participants' minds. While CLO pricing will remain volatile until...
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- CMBS
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DBUBS braves seasonal slow-down
The latest US CMBS to price is evidence that despite the current market environment there is still investor demand for the structures and that the diminished deal pipeline is only a seasonal slow-down. At the same time, volatility has helped to reinf...
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- CLOs
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News
- CLOs
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Manager preps CLO equity fund
Against a backdrop of stagnated European CLO issuance and a looming loan refinancing crisis, European structured credit manager Prytania is preparing a new CLO equity fund designed to provide equity financing and warehousing facilities to would-be CL...
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- CMBS
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GRAND restructuring proposal outlined
Deutsche Annington (DAIG), the borrower behind German multifamily CMBS GRAND, has outlined its restructuring proposal for the transaction via a solvent scheme of arrangement. The aim is to deliver noteholders a full recovery of principal over an exte...
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- CLOs
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Job Swaps
- ABS
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Risk head departs
David Murphy, head of risk and reporting at ISDA, has left the association. According to an ISDA rep...
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Lewtan names ceo
Lewtan has appointed Salil Donde as ceo. He joins from Marshall & Swift/Boeckh, where he ser...
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Structuring director appointed
GE Capital has hired James Simeons to its corporate structured finance team. He joins as corporate o...
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Asia corporate trust services strengthened
BNP Paribas Securities Services is expanding its corporate trust service (CTS) in the Asia Pacific,...
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Fixed income platform bolstered
As part of the expansion of its Americas platform, Natixis has made three senior appointments in its...
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- CDO
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CRE CDO transferred
J.E. Robert Company has assigned the collateral administration agreement for JER CRE CDO 2006-2 to C...
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CRE CDO transfer in the works
Caplease Investment Management is set to assign its collateral manager duties for Caplease CDO 2005-...
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- CDS
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Swaps director recruited
The CFTC has appointed Gary Barnett to serve as its director of the Division of Swap Dealer and Inte...
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London partner relocates
Ashurst partner Chris Whiteley has relocated to the firm's international finance team in Hong Kong....
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Collateral management head hired
Citi has appointed Sam Ahmed as head of collateral management sales for Asia Pacific in its global t...
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Risk management practice bolstered
Catena Technologies has appointed Aaron Hallmark as head of its trading and risk management solution...
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- CMBS
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Real estate trio poached
McCarthy Tétrault has appointed James Papadimitriou, Valérie Mac-Seing and S&#...
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Pru JV hires CMBS originator
Prudential Mortgage Capital Company has hired Curtis Brunton as a principal in the Western region, b...
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- RMBS
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Broker-dealer expands CMO desk
Ally Securities has made two new appointments to its CMO team. Bruce Graham and Chris O'Bara have jo...
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Gleacher to focus on MBS, credit
Gleacher & Company says it is implementing a new strategic plan, following a review of its b...
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- ABS
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News Round-up
- ABS
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Seasonal spike for private student loan defaults
According to the latest results from Moody's Private Student Loan Indices, 5.4% of securitised priva...
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Continued improvement for US auto ABS
The auto loans underpinning rated US ABS transactions continued to show signs of improvement in July...
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Card delinquency rates hit all-time low
US credit card delinquency rates declined to another all-time low in July, with just 3.09% of credit...
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Canadian consumer ABS maintains stability
Canada's consumer ABS market continues to maintain its historically stable performance amid the coun...
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All change in US securitisation
At the end of July 2011, with a shade over US$160bn of qualifying deals completed, the leaders have...
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Auto RVs near all-time highs
Prices and residual values for US wholesale used vehicles are near all-time highs, which is leading...
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- CDO
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Consecutive declines for CRE CDO delinquencies
US CRE CDO delinquencies declined for the third straight month, according to Fitch's latest index re...
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- CDS
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Trade repository recommendations released
The Committee on Payment and Settlement Systems and IOSCO's Technical Committee have released for co...
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CDS liquidity peaks on sovereign concerns
Fitch Solutions reports that in the month to 19 August increased CDS market uncertainty on the prosp...
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- CLOs
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Green light for Lehman CLO plan
Lehman Brothers Holdings' asset management agreement with WCAS Fraser Sullivan (SCI 28 July) has bee...
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- CMBS
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EMEA special servicing activity outlined
Moody's reports in its latest EMEA CMBS specially serviced loans update that in July three new loans...
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Innkeepers agreement terminated
Chatham Lodging Trust and Cerberus Capital Management have terminated their commitment and obligatio...
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Multifamily CMBS lags apartment recovery
Despite various metrics pointing to a recovery in the apartment sector, the credit performance of CM...
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- RMBS
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Shadow inventory declining?
S&P's estimate of the months to clear the supply of distressed homes on the market in the US...
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Silverstone restructuring proposed
Nationwide is proposing to restructure its Silverstone UK RMBS master trust, subject to noteholder a...
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Eurosail impact investigated
Following the recent Eurosail court judgments, Moody's believes that some structured finance issuers...
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- ABS
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