Weekly Issue Archive »

Issue 392 - 25th June

  • News Analysis

    • Structured Finance

      • Lack of trust?

        Aussie regulator not rushing master trusts

        Australian securitisation activity is on the rise but is not being helped by the attitude of the market's regulator. APRA appears to be dragging its heels on introducing master trusts and its cautious approach is attracting criticism. "It can appea...

      • Tough times

        Recruitment quiet as markets squeezed

        The tone in structured finance recruitment on each side of the Atlantic is cautious at best. While hiring continues in both the US and Europe, it is limited and must be set against the backdrop of other large teams being closed down. Partially the...

      • Peripheral possibilities

        Peripheral RMBS relative value explored

        The recently announced €1bn-plus Berica ABS 3 RMBS transaction has piqued investor interest in peripheral paper. Publically distributed Italian RMBS has been rare post-financial crisis, but it could offer compelling relative value. The pe...

  • Market Reports

    • ABS

      • Autos fuel ABS activity

        US ABS secondary market activity remained moderate in yesterday's session, with BWIC volume of a little over US$200m. SCI's PriceABS data shows a large number of auto ABS tranches out for the bid. ACAR 2014-2 C was talked in the low/mid-200s &#...

    • CDO

      • Strong showing seen for CDOs

        SCI's PriceABS data captured 765 CLO and 93 CDO line items this week, with 156 and 44 respectively recorded yesterday, suggesting strong secondary activity on both sides of the Atlantic. A range of bonds were out for the bid, including a couple of Tr...

    • CMBS

      • Light CMBS supply to start week

        US CMBS secondary market activity was light yesterday, with BWIC volume a little over US$100m. Generic spreads were mostly unchanged with several CMBS 1.0 tranches out for the bid. Most of the tranches circulating in yesterday's session were from p...

  • News

    • Structured Finance

      • SCI Start the Week - 23 June

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

        Pipeline Additions to the pipeline last week were fairly even distributed between ABS, RMBS, CMBS and CLOs. There were 11 new deals in total. The ABS consisted of US$450m Drug Royalty II 2014-1, €372.3m Monviso 2014 and SC Poland Auto 20...

  • Job Swaps

    • ABS

      • Esoteric ABS pro recruited

        Guggenheim Securities has appointed Matt Bissonette as an md in its fixed income division in New Yor...

    • Structured Finance

      • Asset manager adds SF vet

        Mark Northway has joined FourWinds Capital Management as global head of sales and distribution. He w...

      • Asset manager adds in Asia

        GoldenTree Asset Management has opened an office in Singapore and hired Shahriar Saadullah as md to...

      • Markit IPO upsized

        Markit has upsized and priced its IPO for 53,472,353 common shares at a price of US$24 per share. Th...

    • CLOs

      • CLO structuring head added

        BNP Paribas has appointed Dushy Puvan as head of CLO origination and structuring. He will be based i...

    • CMBS

      • Servicing pro appointed

        Krupali Mehta has joined Link Financial Group. She will lead the backup servicing team. Mehta spec...

    • Insurance-linked securities

      • RMBS suit dismissed

        The Supreme Court of the State of New York last week dismissed a US$450m RMBS lawsuit against Goldma...

  • News Round-up

    • ABS

      • Auto ABS ratings supported

        Steady historical performance and strong structural protections in auto loan ABS globally have suppo...

      • FFELP ABS criteria updated

        Fitch has published its updated criteria for rating US FFELP student loan ABS. The changes revise th...

    • Structured Finance
    • CDO

      • CDO auction lined up

        An auction has been scheduled for Sunrise CDO I on 15 July. The collateral shall only be sold if the...

      • FDIC to auction Trups CDOs

        The FDIC intends to offer for sale its interests in certain Trups CDOs through a series of auctions....

    • CMBS

      • Kyo-Ya leverage eyed

        Fitch says that the most recent financing of the Kyo-Ya hotel portfolio, a little more than a year a...

      • CTL CMBS downgraded

        Moody's has downgraded the ratings of seven classes of notes across seven UK CMBS sponsored by Tesco...

      • Nat cat bonds affirmed

        S&P has affirmed its ratings on 18 natural-peril catastrophe bonds issued by 10 different is...

    • RMBS

      • Granite ratings upgraded

        Fitch has upgraded 78 tranches of the Granite Master Trust programme and three tranches of the Whins...


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