Weekly Issue Archive »

Issue 322 - 6th February

  • News Analysis

    • Structured Finance

      • Waiting for a spark

        Structured finance recruitment prospects limited without macro change

        The new year has dawned with the structured finance recruitment outlook as uncertain as it was for much of 2012. The environment could begin to change now that January is almost over, but one headhunter warns that it may take a long time for hiring l...

    • CMBS

      • GRAND template

        Fourth outcome to CMBS loan resolutions emerging

        The restructuring of the €4.33bn German Residential Asset Note Distributor (GRAND) transaction, the largest CMBS ever issued in Europe, is noteworthy for being implemented via a solvent scheme of arrangement (SCI 24 December 2012). But it i...

  • Market Reports

    • Structured Finance

      • Euro price gains slowing

        European BWIC volumes for the first month of 2013 stand at €2.4bn, according to Deutsche B...

    • CMBS

      • Real money waits as Euro CMBS weakens

        The European CMBS secondary market has weakened slightly over the last week or so. There is still selling from hedge funds and a good deal of BWIC activity, but real money remains on the sidelines. "The hedge funds started selling quite early in th...

    • RMBS

      • RMBS supply up strongly, levels steady

        Activity in the US RMBS market picked up yesterday after a slow start to the week. Non-agency BWIC volume jumped from less than US$600m on Monday to more than US$1.4bn on Tuesday, with a good mix of vintages and strong supply seen across all sub-sect...

  • News

    • Structured Finance

      • SCI Start the Week - 4 February

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

        Pipeline A relatively quiet week for the pipeline was dominated by CMBS, with three new deals marketing. A floorplan auto ABS was also announced. The CMBS comprise C$250.4m Institutional Mortgage Capital series 2013-3, US$295m RBSCF 2013-SMV and U...

    • CMBS

      • Bruntwood offer welcomed

        The Bruntwood Group is proposing to restructure its UK CMBS, Bruntwood Alpha. The pro-activity of the sponsor has been welcomed and - if implemented - the plan is expected to boost BRUNT 2007-1 bond prices in the secondary market,...

    • RMBS

      • SNS call 'interruptions' predicted

        Embedded call features in SNS Bank RMBS are ultimately expected to be honoured, following the nationalisation of SNS Reaal last week. However, two transactions face elevated risks of at least initial redemption interruption. Nationalisation of the...

  • Job Swaps

    • Structured Finance

      • CRE CDO transfer mooted

        The subordinated noteholders of Sorin Real Estate CDO III are proposing to appoint Collateral Manage...

    • CLOs

      • REIT acquisition agreed

        Annaly Capital Management has reached a definitive agreement with CreXus Investment Corp to acquire...

    • Insurance-linked securities

  • News Round-up

    • Structured Finance

      • Links downgraded

        Moody's has downgraded from Aa2 to Aa3 the Euro and US MTN programmes of Links Finance. The ratings...

    • CDS

      • Mediannuaire results in

        The final price for Mediannuaire LCDS was determined to be 40. During yesterday's auction for the na...

      • LMI review completed

        Moody's has concluded its review of the Australian lenders' mortgage insurance (LMI) sector, resulti...

      • LMI-linked tranches hit

        Moody's has downgraded 85 tranches from 76 Australian RMBS and confirmed 10 tranches from 10 other t...


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