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Issue 356 - 2nd October

  • News Analysis

    • CMBS

      • Resolutions required

        CMBS debt forgiveness set to increase ahead of maturity wall

        As US commercial real estate liquidity has improved and prices have increased over the past year, CMBS special servicers have availed of a greater number of resolution options, with loan modifications playing a less significant role. However, there i...

    • Structured Finance

      • Master stroke?

        Aussie regulator considers master trust merits

        Speculation is growing that the Australian Prudential Regulation Authority (APRA) might allow securitisation through master trusts. Such a move could transform the Australian RMBS market and open up new asset classes. While common in other markets,...

  • Market Reports

    • Structured Finance

      • Euro ABS, RMBS markets 'calm'

        The European ABS and RMBS markets continue to exhibit healthy if unspectacular levels of activity. Primary issuance continues, while secondary market supply has picked up since the summer slow-down. One trader reports that this past week has been "...

    • CLOs

      • Vintage variety for CLO session

        Paper from 2006 and 2007 dominated US CLO secondary trading yesterday. Bonds from deals issued as recently as this year and as long ago as 2003 were also captured by SCI's PriceABS data, however. Price talk for the 2013 tranches was concentrated fr...

    • CMBS

      • CMBS starts week with steady session

        US CMBS BWIC volumes remained steady yesterday as spreads generally widened. Over US$200m was out for the bid, with SCI's PriceABS data showing a mix of names from the session and a number of covers. One of the trades from the session was the BACM...

  • News

    • Structured Finance

      • SCI Start the Week - 30 September

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

        PipelineThe number of deals joining the pipeline slowed a little last week, although there was still a good variety. Three new ABS were announced along with an ILS, two RMBS and two CMBS. The ABS were C$704m Ford Auto Securitization Trust series 20...

    • CMBS

      • Costly losses for German retail loans

        Performance has been weak for European CMBS loans secured by German retail properties. A Barclays Capital analysis of 69 securitised loans predicts total principal losses of €1.4bn for the affected deals, with an average loss severity of 26...

  • Job Swaps

    • Structured Finance

      • SFIG continues to build

        SFIG has hired Sonny Abbasi as director for RMBS policy issues and Sairah Burki as director for ABS...

      • Asian SF pro appointed

        VTB Capital has appointed Jason Fung as head of Asia financing structuring. He will be responsible f...

    • CDO

      • ABS CDO transfer due

        Declaration Management & Research is set to transfer the asset management responsibilities f...

      • Fraud suit to proceed

        The US District Court for the Southern District of New York has allowed the US Department of Justice...

  • News Round-up

    • CDO

      • Pair of CDOs on the block

        An auction has been slated for Longport Funding II on 21 October. The trustee shall sell the collate...

    • NPLs

      • Spanish NPL warning issued

        The rise in Spanish non-performing loans (NPLs) recently announced by the Bank of Spain is likely to...

      • MILAN introduced in Russia

        As a result of legislative amendments which came into effect this year, Moody's has updated its appr...


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