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Issue 279 - 4th April

  • News Analysis

    • Structured Finance

      • Utility appeal

        ED approaches home straight

        The European DataWarehouse (ED) is approaching its projected summer 2012 launch. Securitisation market participants are awaiting final confirmation of the remaining data templates and funding structures under the initiative. Elana Hahn, partner at...

    • CMBS

      • Tough call

        Opera Uni proposals weighed

        Whether Opera Finance (Uni-Invest) noteholders vote for a consensual restructuring or the credit bid option on 17 April is said to be too close to call. Such a dual-track strategy is designed to ensure that there will be an outcome, but there is a re...

    • RMBS

      • Warring over reps

        Countrywide settlement could open floodgates

        The US$8.5bn Countrywide settlement is the only sizeable potential RMBS representation and warranty recovery achieved so far. The key to the success of other such settlements is whether trustees follow BNY Mellon's lead and be more proactive. The C...

  • Market Reports

    • CLOs

      • BWIC boredom as CLO market stutters

        Excitement generated by the take-off of significant European CLO BWIC activity last month has turned to frustration and indifference. Bid-lists continue to flood the market, with notably large examples both today and yesterday, but trading is patchy....

  • News

    • Structured Finance

      • SCI Start the Week - 2 April

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

        Pipeline A variety of deals entered the pipeline last week, including the first NPL CMBS in over 10 years - the US$132m Rialto Capital Series 2012-LT1. The transaction was joined by the A$465m IDOL Trust Series 2012-1 RMBS and the US$367.5...

    • CDS

      • Naked CDS ban given short shrift

        The final European Council ban on naked shorting of sovereign CDS may be stricter than first anticipated, according to structured credit strategists at Citi. They note that regulators appear to be trying to capture trades in the US and Asia under the...

    • CMBS

      • NPL CMBS hits the market

        The first US non-performing CMBS in over a decade - Rialto Capital series 2012-LT1 - has hit the market. The US$132m transaction is collateralised by 271 mortgage loans securing 266 properties, 11 unsecured loans and 38 REO proper...

  • Job Swaps

    • Structured Finance

  • News Round-up

    • ABS

      • FFELP SLABS review hits

        Moody's has placed on review for possible downgrade the ratings of 189 tranches in 24 US FFELP stude...

    • Structured Finance

      • LBIE judgment welcomed

        ISDA has welcomed the Court of Appeal's judgment handed down today in the appeal case of 'Lomas and...

      • Basel 3 progress reviewed

        The Basel Committee on Banking Supervision has published its second progress report on the implement...

      • EMIR approved

        The European Parliament has approved the European Market Infrastructure Regulation (EMIR), which wil...

      • Eircom credit event called

        ISDA's EMEA Credit Derivatives Determinations Committee has resolved that a bankruptcy credit event...

    • CLOs

      • Kinetic Concepts targeted

        Kinetic Concepts was the most purchased loan by CLOs in 4Q11, according to securitisation analysts a...

      • SME CLO asset defaults

        The €6m subordinated bond issued by Gruezi, which forms part of the collateral backing PUL...

    • CMBS

      • Aire Valley nears NAT

        The latest investor report for Aire Valley, Bradford & Bingley's UK RMBS master trust, indic...


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