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Issue 354 - 18th September

  • News Analysis

    • RMBS
      • Delivering unification?

        Common TBA proposal could ease GSE transition

        The concept of a unified conventional TBA deliverable for the GSEs has gained traction recently. Such a move could mark a first step towards unifying the GSEs themselves, which is one of many GSE reform options under discussion. Freddie Mac's secur...

    • Insurance-linked securities
      • Diversification play

        Cat bond-lites, new exposures gain traction

        Catastrophe bond-lite structures appear to be gaining traction as a way of reducing transaction costs. At the same time, demand for exposure to new perils and jurisdictions is rising as investors seek increased diversification. Investors are callin...

  • Market Reports

    • ABS
      • Mix of paper in busy ABS session

        A US$110m bid-list of dealer floorplan bonds boosted auto ABS secondary supply yesterday. Credit card and utility ABS paper was also represented, as BWIC volume for the sector reached US$285m. SCI's PriceABS data shows that the majority of the auto...

    • Structured Finance
      • Week starts with WBS flurry

        A number of UK whole business securitisation bonds were out for the bid yesterday. Some noteworthy credit tenant-linked CMBS were also seen in secondary, with SCI's PriceABS service recording covers ranging from 113 to 280 for the names. Among the...

    • CLOs
      • Back to business for Euro CLOs

        Secondary markets surged yesterday and the European CLO sector was no exception. Activity is picking up as the market moves into autumn, with a significant list circulating yesterday and another one planned for the start of next week. "An ABS CDO B...

  • News

    • Structured Finance
      • SCI Start the Week - 16 September

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

        Pipeline Deals entered and left the pipeline in quick succession last week, with many new arrivals printing before the weekend. Several transactions remained as well, including five new ABS, two RMBS, five CMBS and three CLOs. The ABS comprised: U...

    • CLOs
      • Loan financing shortfall possible

        JPMorgan CDO analysts estimate that US$304bn US and €81bn European CLOs remain outstanding, representing a global CLO market of US$416bn. They forecast that by 2016 or 2017 the CLO 1.0 market could shrink by half to around US$72bn, with tri...

    • RMBS
      • Co-op redemption concerns emerge

        The fortunes of the Co-operative Bank's outstanding Leek and Silk Road deals are more closely tied to the originator's financial health than most UK RMBS, due to noteholder put options inserted after the lender failed to call the transactions (SCI 14...

  • Provider Profile

    • CMBS
      • Intermediary initiative

        Nassar Hussain, managing partner at Brookland Partners, answers SCI's questions

        Q: How and when did Brookland Partners become involved in the CMBS market? A: Brookland Partners has been lead financial adviser on over 25 CMBS transactions totalling in excess of €22bn since our launch in 2009. We act as financial advise...

  • Job Swaps

    • Structured Finance
      • Bank boosts SF efforts

        United Bank & Trust has promoted Jeff Billig to structured finance evp. He was previously sv...

      • CDO issuers file suit

        A number of CDO issuers - including Phoenix Light SF, Blue Heron Funding and Kleros Prefer...

      • Hedge fund adds CLO pro

        Joe Matteo has joined Credit Value Partners in New York. The CLO specialist was previously at Par-Fo...

  • News Round-up

    • ABS
      • FFELP SLABS value touted

        FFELP student loan ABS spreads have generally lagged the tightening witnessed in other US consumer A...

      • FADE issuance limit upped

        Fitch has confirmed that Fondo de Titulizacion del Deficit del Sistema Electrico's (FADE) ratings &a...

    • Structured Finance
      • FAB vehicle debuts

        Spanish bad bank SAREB last month completed its first sale of an REO portfolio, dubbed project Bull....

      • ABS CDO on the block

        An auction is slated for RFC CDO I on 30 September. The collateral will only be sold if the proceeds...

    • CMBS
      • Apartment prices take off

        Apartments in New York and San Francisco are the hottest property sector in major markets, each havi...

      • Innkeepers paid down

        September remittances indicate that the US$656m Innkeepers portfolio - securitised in LBUB...

    • RMBS
      • Dutch NHI plan weighed

        The Dutch government is set to purchase - via the National Mortgage Institute (NHI) &#...

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