Weekly Issue Archive »

Issue 421 - 21st January

  • News Analysis

    • Structured Finance

      • Transparency boost

        Regulatory capital trades expected to flourish

        Increased transparency regarding regulatory treatment appears to have brought stability to the European regulatory capital relief transaction market. Participants report a busy year-end, but expect even more activity in 2015, with action seen from a...

    • NPLs

      • Follow by example

        Italy in the NPL spotlight

        Italian NPL disposals have been disappointing so far, despite significant growth of the assets within the country's banking system. Panellists at SCI's annual London conference last month discussed the challenges that face emerging NPL markets, as we...

  • Market Reports

    • ABS

      • ABS BWICs bounce back

        US ABS bid-list activity was up yesterday as traders returned to their desks, with student loan and auto ABS paper driving supply. Total BWIC volume was around US$125m, with SCI's PriceABS data capturing 24 unique line items. In the student loan sp...

    • CMBS

      • CMBS supply rises, spreads widen

        US CMBS BWIC volume hit US$400m yesterday in a busy session as spreads widened out. SCI's PriceABS data picked up more than 60 unique US CMBS tranches out for the bid from a variety of vintages. A very high proportion of the available paper was cov...

    • RMBS

      • Unusual list dominates RMBS session

        Friday's US non-agency RMBS session was dominated by a large pre-announced US$891m legacy BWIC which was being presented in a highly unconventional way. The list came with an uncertain notional amount, as five of the 14 line items out for bid carried...

  • SCIWire

    • Secondary markets

      • US CMBS secondary suffers

        The US non-agency CMBS market has returned from its annual conference focused on the primary market...

      • US CLOs step off

        US CLO sellers could dominate today as buyers may be harder to find. "Yesterday the market pretty...

      • US RMBS sees more supply

        The secondary US non-agency RMBS market looks to have started its year in earnest this week with ano...

      • Europe awaits ECB again

        European secondary spreads ground tighter into the end of last week amid positive sentiment and ligh...

      • Europe stays quiet

        Ahead of the ECB meeting and Greek general election European secondary markets have, as expected, re...

      • US RMBS keeps tight

        First day back from a long weekend the US non-agency RMBS market is seeing a continuation of last we...

      • US CLOs steady

        The US CLO secondary market is making a steady start to the week. "It's fairly quiet so far as it'...

  • News

    • Structured Finance

      • Socially secured

        An innovative real asset transaction backed by German care homes is currently in the private placement phase. Dubbed German Care Homes Fund, the vehicle aims to provide attractive returns at low risk, given that it is indirectly secured by the German...

      • SCI Start the Week - 19 January

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

        Pipeline Last week saw a greater variety of deals join the pipeline than had done in the week before. There were nine ABS announced along with three RMBS, four CMBS and a CLO. The ABS were: US$117.813m BXG Receivables Note Trust 2015-A; US$1.25bn...

    • CLOs

      • New Volcker fix progresses

        Bill H.R. 37- Promoting Job Creation and Reducing Small Business Burdens Act yesterday passed the House by a vote of 271-154. The bill, which aims to make technical corrections to the Dodd-Frank Act, has the potential - though som...

  • Job Swaps

    • Structured Finance

      • Portfolio manager moves

        Capitala Investment Advisors has hired Stephen Riddell as a portfolio manager. He is tasked with e...

      • Credit team strengthened

        Spire Partners has recruited Saqib Deen and Henrik Holcke as senior credit analysts. Their appointme...

      • Investment vet added

        Permira Debt Managers has appointed Dan Hatcher as investment director to lead the UK origination of...

      • CDO manager transferred

        Cairn Capital has replaced Cambridge Place Investment Management as collateral manager for the Cambe...

    • CDS

      • CME matches offer

        CME has increased the consideration payable to GFI stockholders under the proposed merger to US$5.60...

      • BGC ups GFI offer

        BGC Partners has delivered an executed agreement to GFI Group that, if countersigned by GFI, provide...

    • Insurance-linked securities

      • BMS president promoted

        BMS Capital Advisory has named Andrew Bustillo, president and ceo of BMS Intermediaries, as a princi...

  • News Round-up

      • Headwinds for LatAm ABS

        Despite potential for growth in some of the smaller Latin American structured finance markets, issua...

    • Structured Finance

      • Sukuk set for solid year

        S&P believes that the global sukuk market is primed for another solid year in 2015, even tho...

      • Data partnership agreed

        A new partnership between Misys and Intex Solutions will see the former's FusionInvest tool connecti...

      • Sale spurs CDS widening

        Portugal Telecom International Finance's five-year CDS widened 44% over the past month to price at i...

    • CMBS

      • Tesco CMBS lowered

        S&P has lowered to double-B plus from triple-B minus all seven of the UK CMBS transactions t...

      • 'CMBS-like' deal debuts

        Gatehouse Bank has launched what it describes as a CMBS-like structure, which will be known as a com...

    • Insurance-linked securities

      • CPO relief for ILS

        The US CFTC last month issued two letters - No. 14-145 and No. 14-152 - affectin...

      • ILS to maintain momentum

        Following a record-breaking year for ILS issuance in 2014, 2015 is set to reach new heights, accordi...

    • RMBS

      • STACR programme enhanced

        Freddie Mac has made a number of enhancements to its STACR programme, coinciding with the announceme...

      • Loss model updated

        Kroll Bond Rating Agency has updated its residential mortgage default and loss model. The revisions...


Print this issue Click here to access this issue in print format

×