Weekly Issue Archive »

Issue 437 - 15th May

  • News Analysis

    • RMBS

      • Old haunts

        'Grexit' concerns leave RMBS in doubt

        The spectre of redenomination risk has reappeared in the European RMBS market with the possibility of a Greek exit from the EU. Although transaction deleveraging is likely to provide some protection for investors in such a scenario, losses could pote...

  • SCIWire

      • US CLOs pick up

        Activity in the US CLO secondary market looks to be picking up. "Activity picked up at the end of...

      • Euro ABS/MBS holds steady

        European ABS/MBS secondary spreads are holding steady despite broader market weakness. As expected...

      • US CLOs see more supply

        The US CLO secondary market is at last seeing more serious sellers return to market. "It's busier...

      • US CLOs back to life

        The spike in activity in the US CLO secondary market over the past few days is showing ever more sig...

      • Euro ABS/MBS ebbs

        The recent flow of secondary market activity is likely to ebb away today because of the Ascension Da...

      • Euro CLOs keep momentum

        The European CLO secondary market is maintaining its positive momentum in the 2.0 space, though that...

      • US RMBS active again

        The US RMBS secondary market has emerged from its relative slumber of recent weeks and activity is o...

      • Euro ABS/MBS looks ahead

        With a quiet end to the week likely the European ABS/MBS secondary market is looking ahead. As ant...

  • News

    • Structured Finance

      • SCI Start the Week - 11 May

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

        Pipeline Additions to the pipeline last week were mainly new ABS deals. As well as six of those there was a single ILS, one RMBS and four CLOs. The ABS were: US$1.064bn Capital Auto Receivables Asset Trust 2015-2; US$450m Exeter Automobile Receiva...

    • CLOs

      • Libor floor trade mooted

        CLO equity investors can sell long-dated Libor floors matching those embedded in CLO asset portfolios to monetise the time value in such embedded options. With a Fed hike possible this year, now may be the time to act. A Fed hike before the end of...

    • CMBS

      • CMBS warehousing times eyed

        The average time taken from origination for US CMBS loans to be placed in conduit deals appears to be lengthening. The trend is somewhat surprising, given that the pace of maturities in 2015 should allow originators to issue deals faster and reduce t...

      • Pulled CMBS may need rethink

        RBS has postponed the sale of its £141m Antares 2015-1 CMBS, which was being publically marketed last month. When the deal might return to the market is unknown, but it may look significantly different when it does so. No official reason w...

  • Job Swaps

    • Structured Finance

      • Law firm taps CMBS vet

        Ropes & Gray has appointed Partha Pal to its finance group. He will focus on structured fina...

      • CRE group bolstered

        Annaly Capital Management has beefed up its CRE investment team with a number of hires, including&am...

    • CDO

      • ABS CDO manager replaced

        Dock Street Capital Management has replaced Rabobank International as collateral manager for Solstic...

    • CLOs

      • Fund manager taps CLO pro

        Lucy Panter has joined Oak Hill Advisors as a senior analyst. She arrives from GoldenTree Asset Mana...

    • Insurance-linked securities

      • EXOR ups offer

        EXOR has increased its offer to acquire all of the outstanding common shares of PartnerRe to US$137....

  • News Round-up

    • Structured Finance

      • SME hybrid touted

        The European Covered Bond Council (ECBC) has unveiled a plan to create instruments to finance SME le...

      • APAC ratings hold firm

        Ratings stability was extremely high across Fitch's Asia-Pacific structured finance (SF) ratings in...

      • SPV loss case concluded

        The English High Court's ruling in the 'Fondazione Enasarco v (1) Lehman Brothers Finance S.A. and (...

      • Spotlight on P2B lending

        Moody's says that European market participants and policymakers are increasing the spotlight on peer...

      • LMA voices STS concerns

        The LMA has responded to a number of criteria proposed by the EBA and BCBS/IOSCO for identifying sim...

    • CMBS

      • CMBS 2.0 ratings boost

        S&P has upgraded the JPMCC 2012-C8 class B, C, EC and D notes by one notch each to double-A...

      • Liquidations hit GG9

        May remittance indicates that the GCCFC 2007-GG9 CMBS received a wave of cashflows and realised loss...

      • REIT preps risk transfer

        PennyMac disclosed in its 1Q15 results that it has entered into a credit risk transfer structure wit...

      • AOFM to auction RMBS

        The Australian Office of Financial Management (AOFM) has been directed to divest&a...


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