Weekly Issue Archive »

Issue 447 - 24th July

  • News Analysis

    • CLOs

      • Sterling effort

        European CLOs testing creative palette

        European CLOs remain an attractive option for yield-hungry investors, but a shortage in quality collateral persists. As managers attempt to broaden the investor universe, a fresh phase of innovation has expanded the structural scope of new transactio...

    • CMBS

      • Expanding brand

        CRE appetite spurs European CMBS variety

        European CMBS primary issuance remains slow in relative terms, but the sector continues to innovate. Regulatory pressures are driving alternative options to rated CMBS, as demand for real estate continues. A recent Paul Hastings report suggests tha...

  • SCIWire

    • Secondary markets

      • US CLOs stay slow

        The US CLO secondary market remains quiet despite a few BWICs appearing on this week's schedule. "...

      • US CMBS drifts

        US non-agency CMBS secondary market tone is improving but spreads and activity levels appear to be d...

      • US RMBS elevates

        The US non-agency RMBS secondary market is seeing elevated trading volumes this week. "Things have...

      • Euro secondary stays firm

        Tone and spreads in the European securitisation secondary market are staying firm. Yesterday saw a...

  • News

    • Structured Finance

      • SCI Start the Week - 20 July

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

        PipelinePipeline activity continued to normalise last week. There were eight ABS, five RMBS and five CMBS additions. The ABS were: US$203.1m Access Funding 2015-1; US$170m Diamond Resorts Owner Trust 2015-1; US$460m Driven Brands Funding Series 201...

    • CDS

      • Crossover tranchelet trades touted

        Investors are increasingly looking to trade slices of the 0%-10% equity tranche of the on-the-run iTraxx Crossover S22 portfolio. With the opportunity to express views either through a 0%-5% tranchelet or 5%-10% tranchelet, Bank of America Merrill Ly...

    • CLOs

      • No-action impact gauged

        Prior to publication of the US SEC's no-action letter (SCI 21 July), an estimated US$261bn of US CLOs had to refinance before 24 December 2016 to avoid risk retention for the refinanced tranches. The ruling means that an additional US$152bn of CLOs s...

  • Job Swaps

    • Structured Finance

      • Capital markets vet hired

        Patrick Beranek has joined Mischler Financial Group's capital markets division as md, structured pro...

      • UK SME fund prepped

        Beechbrook Capital is launching a new fund to support UK SME businesses turning over between ...

      • Energy pro brought in

        Khalil Qasimi has joined Empower Energies as senior director, structured finance. Working with Empow...

      • REIT ceo replaced

        Kevin Keyes has been appointed ceo of Annaly Capital Management, while retaining the title...

    • CLOs

      • European CLO team boosted

        Tikehau has hired Alison Goold as a portfolio manager for its European CLO business. She will be par...

    • Insurance-linked securities

      • ILS team reinforced

        SCOR Investment Partners has recruited Sidney Rostan and Pierre Mouilhade as portfolio managers for...

      • PartnerRe opens EXOR talks

        PartnerRe has responded to a revised proposal from EXOR offering a special dividend of US$3 per comm...

  • News Round-up

    • ABS

      • Redemption to avoid EOD

        Access Group says it intends to redeem the US$89.1m ACCSS 2004-2 A2 bond in full at its legal final...

      • CPUK note exchange due

        A tender offer for CPUK Finance class B notes has been launched in connection with the acquisition o...

      • Hertz acceleration avoided

        Hertz has filed its 2014 10-K, including restated financials for 2012-2013 and some restated financi...

    • Structured Finance
    • CMBS

      • CMBS delinquencies dip

        The European CMBS 12-month-rolling loan maturity default rate increased slightly to 25% from 24.6%,...

    • Risk Management

      • Blockchain adoption polled

        Global financial services firms are exploring ways to adopt the technology behind Bitcoin for use in...


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