Weekly Issue Archive »

Issue 469 - 24th December

  • News Analysis

    • ABS

      • Student movement

        SLABS market diverging with innovation, uncertainty

        The US student loan ABS sector remains mired in uncertainty surrounding potential downgrades that could be inflicted on a number of FFELP transactions. In contrast, private SLABS sponsors continue to innovate in terms of collateral and new structures...

    • Structured Finance

      • Alarm bells

        Fund liquidations bring echoes of 2007

        With year-end rapidly approaching, high yield credit was thrown into a loop by a quick-fire succession of announcements from Lucidus Capital Partners, Third Avenue Management and Stone Lion Capital Partners. Redemption suspensions and portfolio liqui...

      • Recruitment shift

        SF hiring zoning in on peripheral space

        The recruitment outlook in structured finance remains subdued as regulation maintains its stranglehold in Europe and the US. However, peripheral players are keeping the market ticking over by testing the securitisation waters. "There has been some...

  • News

    • Structured Finance

      • SCI Start the Week - 21 December

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

        Pipeline The pipeline grew very quiet last week. The only deal to be added without disappearing before Friday's close was US$176m Palmer Square Loan Funding 2016-1, a CLO. Pricings With Christmas nearly upon us, the pace of completed issuance als...

    • CLOs

      • US, Euro CLO BWIC activity up

        CLO BWIC volumes grew significantly in the US this year, while also rising modestly in Europe. US CLO BWIC volume for 2015 has been 50% higher than the previous year, while European BWIC volumes grew 6% to reach a new high. By original notional rat...

  • Job Swaps

    • Structured Finance

      • Exemptive relief for FCF

        Third Avenue Management has obtained exemptive relief from the US SEC to continue to protect Third A...

      • RMBS, CLO fraud admitted

        A former co-head of US ABS, RMBS and CMBS trading at RBS Securities has waived his right to indictme...

      • TICC sale hits roadblock

        The agreement for Benefit Street Partners (BSP) to acquire TICC Capital (SCI 7 December) fa...

      • BNP adds to ABS expertise

        BNP Paribas has brought in Alex Nixon as vp in investment banking, focusing on non-flow ABS. He join...

    • RMBS

      • Software firm acquired

        CoreLogic is set buy software firm FNC for US$475m. The agreement will see it inherit FNC's...

      • Citi settlement approved

        Justice Marcy Friedman last week approved the US$1.125bn Citi RMBS settlement. It had been hoped tha...

  • News Round-up

    • ABS

      • FFELP watchlist grows

        Fitch has placed a further 238 tranches from 118 trusts of US FFELP student loan ABS on watch for po...

      • PREPA deal reached

        PREPA has finally reached an agreement with bond insurance subsidiaries of Assured Guaranty over a f...

    • Structured Finance
    • CLOs

      • Electra anchors CLO

        Electra Partners has invested £13m in a new CLO managed by Blackstone/GSO Debt Funds Manage...

      • Volcker amendments agreed

        An extraordinary resolution has been passed by St Paul's CLO II noteholders that amends the investme...

    • CMBS

      • CMBX rule updates expected

        The Markit CMBX.9 index is expected to launch on 25 January 2016. Similar to the previous CMBX serie...

      • CMBS defaults edge up

        The 12-month rolling maturity default rate for European CMBS increased slightly in November to 10.5%...

    • Risk Management

      • ECL guidance released

        The Basel Committee has released a document setting out supervisory guidance on sound credit risk pr...

      • RPL approach updated

        Fitch has updated its approach for rating RMBS backed by seasoned and reperforming loan (RPL) collat...


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