Issue 292 - 4th July
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News Analysis
- CLOs
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Pricing power
US CLO manager tiering emerges
Pricing power in the US CLO market appears to have shifted firmly towards the buy-side over recent weeks, with increased differentiation emerging between managers. At the same time, the pipeline has slowed due to the strength of the new issue market....
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- CLOs
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News
- Structured Finance
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SCI Start the Week - 2 July
A look at the major activity in structured finance over the past seven days
Pipeline Three transactions remained in the pipeline at the end of last week. They comprised a student loan ABS (US$21.19m Vermont Student Assistance Corporation series 2012A), an Australian non-conforming RMBS (A$300m Liberty Series 2012-1 Trust) a...
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- Structured Finance
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Job Swaps
- Structured Finance
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SF trading head named
Laila Kollmorgen has joined Raymond James Financial as head of European structured finance trading....
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Investment pro appointed
Stefano Loreti has joined Haymarket Financial as a partner and head of structured credit investing....
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Index giant created
The McGraw-Hill Companies and CME Group have launched S&P Dow Jones Indices, the world's lar...
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ASF reshuffle announced
The Australian Securitisation Forum has appointed Andrew Jinks of Clayton Utz to its National Commit...
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- CDO
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CDO management transfer proposed
Coast Capital Asset Management is proposing to transfer the collateral management agreement (CMA) fo...
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- CLOs
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CLO business development role filled
Black Diamond Capital Management has appointed Jean Fleischhacker as senior md, business development...
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Invesco trio disclosed
Three of the seven Invesco Asset Management CLOs being acquired by 3i Debt Management Investments (S...
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- Risk Management
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Collateral services unit formed
BNY Mellon has established a new unit, dubbed global collateral services, to serve broker-dealers an...
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CMA acquired
S&P Capital IQ has acquired Credit Market Analysis (CMA) from CME Group, as part of the agre...
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- RMBS
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MBS vet recruited
Bryan Caisse has joined Performance Trust Investment Advisors (PTIA) as senior portfolio manager. He...
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- Structured Finance
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News Round-up
- ABS
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Prime auto losses inch up
Following strong performance in the spring, US prime auto loan ABS losses crept up slightly last mon...
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Subprime auto ABS overheating?
Moody's suggests that the US subprime auto lending market is beginning to resemble its condition in...
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Equipment criteria unveiled
Kroll Bond Rating Agency (KBRA) has released its methodology for rating US equipment lease and loan...
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New deal boosts Russian ABS market
In what is seen as a breakthrough for the Russian securitisation market, ZAO Raiffeisen Bank ...
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RFC issued on two rating proposals
Moody's is seeking market participants' comments on two proposals affecting how it assesses structur...
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Spanish deals hit
Moody's has downgraded to A3(sf) the ratings of 583 securities across 328 structured finance transac...
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Student loan deals downgraded
The correction of an input error along with poor performance of private student loans has prompted M...
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- Structured Finance
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MiFID 2 liquidity warning
With an important vote looming on MiFID 2 on 9 July, TABB Group believes that current proposals to r...
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- CDO
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Trups CDO defaults stable
US bank Trups CDO defaults and deferrals remained relatively stable this past month, according to Fi...
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ML3 auction completed
The results of yesterday's Maiden Lane III auction have been released. Bank of America Merrill Lynch...
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- CDS
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Clearing agency rules adopted
The US SEC has adopted rules that establish procedures for its review of certain clearing agency act...
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ICE preps SDR
The CFTC has provisionally approved ICE Trade Vault as a swap data repository (SDR) for the commodit...
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- CMBS
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CMBS servicer improvements reviewed
Following a review of recent US CMBS modifications and liquidations, Fitch says that although servic...
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ARA hits Royal Mint Court
The £72.45m Royal Mint Court loan, securitised in the Equinox (Eclipse 2006-1) CMBS, has be...
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Heavy EMEA CMBS maturities due
Almost €2.5bn of outstanding CMBS debt - across 32 loans - falls due i...
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CMBS loss severities dip
US CMBS loan resolutions and loss severities cooled off in June, according to Trepp, with liquidatio...
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Picton CMBS refi agreed
Picton Property Income has entered into conditional agreements for two separate long-term debt facil...
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Special servicer difficulties highlighted
The legal wrangling over the Alburn Real Estate Capital (REC 6) CMBS (SCI 27 June) exemplifies the d...
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CMBS delinquencies inch up
The US CMBS delinquency rate increased by 12bp in June to 10.16%, according to Trepp. This new all-t...
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- RMBS
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Irish insolvency bill published
The Irish government has published its draft Personal Insolvency Bill (SCI 14 March). The bill propo...
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Review prompts HMI rating changes
Santander last week released a new prospectus for its Holmes Master Issuer RMBS programme that conta...
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Walnut Place dismissal upheld
The New York Appellate Division last week affirmed the lower court's dismissal of claims by investor...
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Aurora servicing transfer reviewed
The expected servicing transfer date for 160 US RMBS from Aurora Loan Services to Nationstar Mortgag...
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Pelican calls anticipated
The likelihood of the Pelican 2 and 3 transactions being called has jumped, following Caixa Economic...
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Single agency disagreements highlighted
The ASF has released a white paper on the single securitisation platform proposal outlined by the FH...
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- ABS
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