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Issue 458 - 9th October

  • News Analysis

    • Structured Finance

      • Growing pipeline

        European supply surge whetting investor appetite?

        A heavy European securitisation pipeline is pushing spreads wider, enticing investors to pick up cheap paper. Nevertheless, calls remain for the ECB to extend its buying mandate to a more diversified pool of ABS across a broader range of countries. ...

    • CLOs

      • Under pressure?

        Credit deterioration affecting 2.0 CLOs

        The percentage of US CLO 2.0 loans trading below 90 continues to rise, reaching a year-to-date peak of more than 8% last month. Credit quality erosion is limiting origination and impacting pricing, with manager performance coming under greater scruti...

  • SCIWire

    • Secondary markets

      • Euro secondary mixed

        Activity in the European securitisation secondary market continues to be mixed. For the most part...

      • US CLOs keep busy

        The US CLO secondary market looks set for another busy week after last week's uptick in activity. ...

      • Euro secondary accelerates

        The pick-up in activity and pricing levels in the European securitisation secondary market is accele...

      • US CLOs suffer

        The US CLO secondary market continues to suffer from a lack of liquidity for a variety of reasons. ...

      • US RMBS stabilises

        The US non-agency RMBS secondary market has stabilised and activity is slowly increasing again. "I...

  • News

    • Structured Finance

      • SCI Start the Week - 5 October

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

        Pipeline The number of deals joining the pipeline picked up again last week, with CMBS leading the way. There were four ABS, two RMBS, seven CMBS and three CLOs announced. US$1bn BMW Vehicle Lease Trust 2015-2, US$1.63bn DPABS 2015-1, US$833.33m N...

    • CMBS

      • CMBS ruling logic questioned

        A legal ruling has had to fill in the gaps in documentation for yet another pre-crisis transaction - Gemini (Eclipse 2006-3) - as CMBS 1.0 shortcomings continue to cause problems. However, while the court has ruled in favour of wh...

  • Job Swaps

      • ABS exec recruited

        Shirley Chen has joined Mogo Finance Technology in the newly created role of treasurer, based in the...

      • SF specialist recruited

        Voisin Law recruited Howard O'Toole as an associate in its commercial department. He has over 15 yea...

      • Minority interest acquired

        Dyal Capital Partners has acquired a passive minority interest in the controlling company of Chenava...

    • CLOs

      • CLO pro poached

        Seix Investment Advisors has appointed John Wu as md of structured capital markets for its leveraged...

    • CMBS

      • Euro CMBS leader appointed

        DBRS has appointed Christian Aufsatz to its London office, where he will lead the European CMBS team...

    • Insurance-linked securities
    • RMBS

      • Vice chair steps up

        Walter Investment Management has appointed Denmar Dixon ceo and president, effective from 10 October...

  • News Round-up

    • CDS

      • Ukraine CDS settled

        The final price for Ukraine CDS was settled at 80.625. At yesterday's auction, 11 dealers submitted...

      • Ukraine auction called

        ISDA's EMEA Credit Derivatives Determinations Committee has ruled that a repudiation/moratorium cred...

      • New US property price peak

        Central business district (CBD) office was the best-performing segment of Moody's/RCA Commercial Pro...

      • Synthetic CRE note prepped

        Scope Ratings has assigned a preliminary triple-B rating to an unusual synthetic securitisation. The...

      • CMBS pay-offs slide

        The percentage of US CMBS loans paying off on their balloon date slid sharply last to 60.4%, accordi...

    • Risk Management

      • Valuations service offered

        Principia Partners has launched an online derivatives portfolio valuation, risk and accounting manag...

      • SIMM utility vendor named

        ICE Benchmark Administration (IBA) has been selected to build and operate a crowdsourcing utility fo...

      • CDS clearing RTS issued

        ESMA has issued a draft regulatory technical standard (RTS) for the central clearing of CDS. It defi...


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