Weekly Issue Archive »

Issue 467 - 11th December

  • News Analysis

    • Structured Finance

      • Space for rent

        Multi-borrower SFR segment set for growth

        Of the 26 single-family rental securitisations issued since the market's inception - totalling US$14bn - only three have been multi-borrower deals. However, a significant shift in issuance is underway. Invitation Homes 2013-SFR1...

    • CLOs

      • Friend request

        CLO managers look for allies as deadline looms

        None of January's US CLOs were risk retention-compliant at issuance, but change has swept the market as 20% of those issued in September and 19% of those issued in October were. However, finding adequate solutions has proved tough enough for large ma...

  • SCIWire

    • Secondary markets

      • Euro secondary unmoved

        Despite initial post-ECB softening on Friday across broader markets, the European securitisation sec...

      • Euro secondary slows

        Yesterday saw a fairly slow session across the European securitisation secondary market, but it coul...

      • US CDO/CLO pick up

        The US CLO secondary market is picking up a little, while activity in the Trups CDO sector is outper...

      • Euro ABS/MBS stable

        The European ABS/MBS secondary market remains stable amid wider market volatility. "Overall our ma...

      • Euro CLOs BWIC-driven

        The European CLO secondary market is being dominated this week by a spike in BWIC volume. "Everyth...

      • Euro secondary mixed

        It's turning into a typically quiet December across most of the European securitisation secondary ma...

      • US CLOs stutter

        After a slight pick-up earlier in the week the US CLO secondary market is stuttering once more. "I...

      • Euro secondary slowdown

        The end of year slowdown in the European securitisation secondary market looks to be increasing. F...

  • News

    • Structured Finance

      • SCI Start the Week - 7 December

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

        Pipeline Several deals joined the pipeline in the first week of December. The final count consisted of seven ABS, two ILS, three RMBS, one CMBS and one CLO. The ABS were: US$380m California Republic Auto Receivables Trust 2015-4; US$265m CHAI 2015...

      • Marketplace lending set for lift-off

        Marketplace lending is primed for further expansion globally in 2016, in terms of both volume and loan type. Moody's anticipates that US marketplace lenders will continue to broaden their product offerings as they build out their platforms,...

    • CMBS

      • Remits ramp up

        November saw a spike in US CMBS 2.0 remittance activity. Highlights include foreclosure of an 'oil boom' loan and a couple of maturity extensions. Twelve loans totalling US$128.89m became newly delinquent last month, including three 2015 vintage lo...

      • Final 2015 CMBS auctions announced

        The volume of US CMBS loans out for auction has decreased slightly this month, to US$190m. The deals with the highest exposure are BACM 2006-2, BACM 2006-5 and MLMT 2006-C1. BACM 2006-2 has US$93m from five properties and one note due for auction....

  • Job Swaps

    • Structured Finance

      • Japanese mezz fund closed

        Nomura ICG, the strategic partnership created by Nomura Holdings and Intermediate Capital Group (SCI...

      • TICC meeting confirmed

        TICC Capital has announced that its special meeting will take place on 22 December, when stockholder...

      • SFM sale confirmed

        Elian has completed its acquisition of SFM Europe, with Elian's international finance team set to me...

      • BDC revises fees

        Medley Capital Corp has become the latest BDC to lower its fees under the investment management agre...

      • Private debt head poached

        SL Capital Partners has appointed John Seal as head of private junior debt as it expands its involve...

    • CDS

      • Commission drops CDS case

        The European Commission has dropped proceedings against 13 investment banks over their alleged invol...

    • CMBS

      • GSE vet moves on

        Jay Kirsch has joined Greystone as md, focusing on production of small balance loans across the Fred...

    • Insurance-linked securities

      • Investment policy revised

        Blue Capital Global Reinsurance Fund is set to revise its investment policy and modify the performan...

    • Risk Management
    • RMBS

      • NCUA settlement signed

        The NCUA has announced a US$225m settlement with Morgan Stanley to resolve claims arising from losse...

  • News Round-up

      • Solar loan ABS anticipated

        ABS secured by residential and non-residential solar financing contracts are continuing to emerge as...

      • KfW commits to SMEs

        KfW says it plans to commit a further €1bn in 2016 to the Europe securitisation market, up...

    • CDS

      • Split ruling for Abengoa

        ISDA's EMEA Determinations Committee has made a surprise split ruling on whether a bankruptcy credit...

      • Abengoa decision explained

        ISDA's EMEA Determinations Committee has published a statement that details the background to its sp...

    • CMBS

      • CMBS liquidations nudge up

        Total US CMBS loan dispositions rose slightly in November, but still came in below the US$1bn mark,...

      • CMBS pay-offs dip

        The percentage of US CMBS loans paying off on their balloon date fell modestly last month to 76%, le...

      • Loan drops increasing

        In a sample of 28 US CMBS it rates for the 12-month period ending 30 June, Fitch observed approximat...

    • Insurance-linked securities

      • MultiCat losses likely

        S&P has lowered to single-D from triple-C minus its rating on MultiCat Mexico series 2012-I...

    • NPLs

      • Latest SPO sale completed

        Freddie Mac has sold via auction 5,311 deeply delinquent non-performing loans (NPLs) serviced by Wel...

      • ARP 2014-SFR1 supported

        The American Residential Properties and American Homes 4 Rent merger (SCI 4 December) is credit posi...


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