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Issue 251 - 14th September

  • News Analysis

    • CMBS

      • Property play

        Special servicing M&A activity set to increase

        C-III Capital Partners' recent acquisition of JER Partners' special servicing and CDO businesses (SCI 23 August) underlines the importance of CMBS special servicing to many CRE companies' operations. But the inability of smaller special servicers to...

    • CDO

      • BWIC blues?

        CDO holders resist pressure to sell

        Volatility in the wider market has resulted in price softening within secondary CLOs over the past couple of months. But, although investors are keen to capitalise on the opportunities presented, wider market concerns have yet to compel many holders...

  • Market Reports

    • CMBS

      • Cluster of deals on CMBS horizon

        US CMBS is about to experience a burst of activity as attention turns to a flurry of new deals, which will hit the market in the next couple of weeks. A US$1.491bn deal from Morgan Stanley and Bank of America Merrill Lynch, expected to price soon, wi...

  • News

    • ABS

      • SCI Start the Week - 12 September

        A look at the major activity in structured finance over the past seven days

        PipelineBank of America and Morgan Stanley have begun marketing their US$1.49bn Morgan Stanley Capital I Trust 2011-C3. The deal is first of an expected US$8bn US CMBS new issue pipeline through October, across seven deals, according to Citi securiti...

    • CDO

      • Junior noteholders fail to halt CDO bankruptcy

        The US Bankruptcy Court for the District of New Jersey recently denied a junior noteholder's motion to dismiss an involuntary chapter 11 case commenced against ZING VII, a CDO-squared. According to a client memo from Willkie, Farr & Gallagher...

    • CDS

      • Tackling the overhang

        The risk of accelerated de-leveraging among peripheral European banks has emerged amid the current market volatility. Against this backdrop, an appropriate strategy appears to be one that shorts systemic risk and is long idiosyncratic risk. The mai...

    • RMBS

      • HARP changes to benefit borrowers

        The White House has released a fact sheet indicating that barriers which exist for the current HARP programme will be removed to help more borrowers refinance their mortgages. The focus is expected to return to high LTV borrowers. FHFA director Edw...

  • Job Swaps

    • ABS

      • Walkers forms ILS group

        Law firm Walkers is launching an insurance-linked securities (ILS) group, bringing together the expe...

      • Esoteric ABS pro added

        KGS-Alpha Capital Markets has recruited Robert Piano to its new ABS team. He joins from Barclays Cap...

      • FICC md recruited

        Emmanuel Androulidakis has joined Macquarie Bank as md in fixed income, currencies and commodities....

    • CDO

      • CRE CDO sold on

        CapLease has confirmed the sale of CapLease CDO 2005-1 to NRF Cap, an affiliate of NorthStar Realty...

  • News Round-up

      • CRA board proposal slammed

        SIFMA has submitted comments to the US SEC in response to a Dodd-Frank mandated study the Commission...

      • Resolution rules adopted

        A final rule to be issued jointly by the FDIC and the US Fed to implement Section 165(d) of the Dodd...

      • UK SME GSE touted

        Adam Posen of the Bank of England suggested in a recent speech that the UK government establish an e...

      • CDS quanto data introduced

        CMA has launched a new product that takes into account the CDS quanto spread of key Euro-zone sovere...

      • CDS indices rebranded

        S&P's credit default swap indices are to be co-branded with ISDA and renamed the S&P...

      • Agency CMBS on the rise

        Compared with pre-2009, when GSE issuance was relatively minimal and private investment bank transac...


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