Weekly Issue Archive »

Issue 393 - 2nd July

  • Market Reports

    • ABS

      • Slow start for US ABS

        US ABS bid-list activity was very low to start the holiday-shortened week. SCI's PriceABS data picked up student loan paper from both Sallie Mae and Navient, which spilt off in April. ABS BWIC volume for the session was just US$35m according to Int...

    • CLOs

      • Steady secondary CLO supply

        It was another fairly busy session for the US CLO secondary market yesterday. SCI's PriceABS data captured 26 unique US CLO tranches circulating on Tuesday, with paper from the top to the bottom of the capital stack achieving covers. Deal vintages...

    • RMBS

      • US RMBS secondary activity stable

        US non-agency RMBS BWIC volume hit US$566m yesterday, slightly lower than the total for the prior session. Supply was mainly driven by 2005- and 2006-vintage subprime bonds. SCI's PriceABS data captured a range of names out for the bid in yesterday...

  • News

    • Structured Finance

      • SCI Start the Week - 30 June

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

        Pipeline After a fairly even distribution of new deals added to the pipeline two weeks ago, last week was dominated by newly-announced CLOs. There were two ABS, two CMBS and seven CLOs added to the pipeline. The ABS were US$400m Ford Credit Floorp...

    • CLOs

      • CLO manager diversity shrinking

        There have been 34 deals issued from 19 managers since the European CLO market returned last year. Manager diversity has been shrinking, though, and only 22 managers are currently actively managing European CLOs. Despite three new managers entering...

  • Job Swaps

      • Fund adds industry vet

        SCIO Capital has appointed Kevin Flaherty as head of syndicate. He will work closely with co-founder...

      • Law firm adds pair

        Dechert has appointed two new partners to the firm. Eleni Skordaki joins the finance and real estate...

    • CLOs

      • CLO PM appointed

        Highbridge Principal Strategies has hired Jonathan Rabinowitz as a portfolio manager. He will report...

  • News Round-up

    • Structured Finance

      • Secured bond defaults rise

        Secured bonds have accounted for a greater portion of the high yield default mix in recent years, sa...

      • DDE criteria expanded

        Fitch has updated its global criteria for determining distressed debt exchanges (DDEs) in structured...

      • PCS criteria revised

        Prime Collateralised Securities (PCS) has introduced the first substantial revision of its criteria...

    • CDO

      • CDO auction due

        An auction will be held for Trainer Wortham First Republic CBO IV on 23 July. The collateral shall o...

      • CRE CDO auction announced

        An auction has been scheduled for N-Star Real Estate CDO III on 9 July. The auction is being conduct...

      • ABS CDO sale lined up

        An auction has been scheduled for Longport Funding II CDO on 21 July. The collateral will only be so...

    • CLOs

      • Cov-lite exposure grows

        US CLO 2.0 managers have not been fully using their cov-lite buckets, says Moody's. However, cov-lit...

    • CMBS

      • CMBS liquidations drop

        The volume of US CMBS loan liquidations dropped to US$932.03m in June from US$1.02bn in May, accordi...


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