Weekly Issue Archive »

Issue 263 - 7th December

  • News Analysis

    • CLOs

      • Changing tactics

        CLO managers eye secondary loans, amend-to-extend prevalent

        Faced with a choice between purchasing new issue loans and buying loans in the secondary market, CLO managers are increasingly turning to the latter. Meanwhile, wide spreads and falling new issuance mean that many issuers are unable to refinance, mak...

  • Market Reports

    • Structured Finance

      • Winter freeze setting in

        The slow end-of-year shutdown of the European ABS market has continued over the last week. Issuance is limited and very targeted as banks deal with other priorities, with a pick-up not expected now until 1Q12. "Santander did a private Fosse placeme...

    • CMBS

      • US CMBS still strong

        The US CMBS primary and secondary markets have both remained active, with a raft of new issuances capturing investors' attention. Spreads have continued to tighten and the market is already looking forward to a flurry of new deals as 2012 begins. "...

  • News

    • ABS

      • Galaxy acquisition positive for pub WBS

        Heineken has acquired the Galaxy pub estate - comprising 918 pubs - from RBS, which it had previously managed through its Scottish and Newcastle subsidiary, for £412m. The move is expected to have a positive impact on sen...

    • Structured Finance

      • SCI Start the Week - 5 December

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

        PipelineThree auto ABS transactions entered the pipeline last week (¥25bn Driver Japan One, €912.3m FTA Santander Consumer Spain Auto 2011-1 and ¥8bn NBL-1112). There were also two US CMBS deals (US$774m CCFRE CMT 2011-C2...

    • CMBS

      • CMBS modification trends examined

        Modifications will remain a key workout method for troubled CMBS loans amid an increasingly challenging lending environment, according to a new report from Citi securitised products analysts. Consequently, the analysts highlight some of the noteworth...

      • Opera Uni firesale anticipated

        The auction process for Uni-Invest Holdings, which had progressed to the second phase of due diligence, has been suspended. Difficulties of raising debt in the current economic climate against properties similar to those securing the remaining loan i...

  • Provider Profile

    • CMBS

      • Navigating CMBS

        Dan Smith, president and ceo of Four Point Alliance, answers SCI's questions

        Q: How and when did Four Point Alliance become involved in the CMBS market? A: Four Point Alliance (FPA) is a commercial real estate advisory firm specialising in expert witness testimony in CMBS and other types of commercial real estate lawsuits, C...

  • Job Swaps

    • ABS

      • ABS sales md moves

        Benita Levy has joined Mesirow Financial's institutional sales and trading department as md. She rep...

    • CDO

      • CRE CDO transfer due

        Sandelman Partners is set to assign the collateral management agreement for Sandelman CRE CDO I to P...

    • CDS

      • Fund management reshuffled

        Highland Funds Asset Management (HFAM) will take over as investment adviser and administrator to Hig...

      • CDS ceo named

        Charlie Longden has joined LCH.Clearnet as ceo of CDSClear. He will report to group ceo Ian Axe and...

    • CLOs

      • CLO transfer proposed

        Deerfield Capital Management is proposing to transfer its rights and obligations under the investmen...

      • CLO novation sought

        Plemont Portfolio Managers has entered into a transfer deed with respect to Kintyre CLO I, pursuant...

  • News Round-up

      • Stable outlook for Euro SF

        Fitch is maintaining its overall stable outlook for European structured finance transactions, despit...

      • DSB deals downgraded

        Moody's has downgraded the ratings of one RMBS (Monastery 2004-1) and two ABS (Chapel 2003-1 and Cha...

    • CDS

      • SEAT credit event called

        ISDA's EMEA Credit Derivatives Determinations Committee has resolved that a failure to pay credit ev...

      • SEAT auction scheduled

        The auction to settle the credit derivative trades for SEAT PAGINE GIALLE CDS is to be held on 9 Dec...

      • CMBS tender results in

        Having announced a fixed-price tender for all outstanding NEMUS 2006-1 bonds (SCI 22 November), HSBC...


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