Weekly Issue Archive »

Issue 280 - 11th April

  • News Analysis

    • CMBS
      • Noteholder divide

        Legacy investors seek Dutch de-risking

        Noteholder division over the competing Opera Finance (Uni-Invest) proposals is emerging (see also SCI 3 April). Some legacy holders of the CMBS paper look set to vote for the credit bid option as a way of reducing their exposure to Dutch secondary pr...

  • News

    • CMBS
      • Maturity spike for Euro CMBS

        April is set to be another important month for European CMBS. There are 16 transactions subject to loan maturities this month, six of which have more than one loan maturing. Over half of the loans are expected to remain outstanding at the end of the...

      • CMBS gaps out on ML3 concerns

        Supply concerns last week drove the first major widening in US CMBS spreads since the beginning of the year. The move follows rising expectations of potential sales from the Maiden Lane III portfolio. Generic 2007 LCF and AMs gave up nearly 20bp-30...

    • Insurance-linked securities
      • Three cat bonds close

        Three catastrophe bonds closed last week. All saw strong investor interest and finished larger than initial size projections. Allianz's Blue Danube (SCI 13 March) saw its two tranches reach US$120m each. The class A notes priced at 600bp over the p...

    • RMBS
      • GSE principal forgiveness ruled out

        FHFA acting director Edward DeMarco has commented on the use of Treasury incentives to forgive principal on underwater borrowers, affirming a preference for forbearance over forgiveness. The announcement effectively rules out any principal forgivenes...

  • Job Swaps

    • Insurance-linked securities
      • ILS specialist recruited

        Stephen Rooney has joined Mayer Brown in New York as partner and co-leader of the insurance finance...

  • News Round-up

    • Structured Finance
    • CDO
      • CMBS loan takes mod loss

        The US$81m Grand Traverse Mall loan securitised in GECMC 2005-C4 has taken a US$19m loss. The loss l...

    • Insurance-linked securities

Print this issue Click here to access this issue in print format