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Issue 476 - 19th February

  • SCIWire

    • Secondary markets

      • Euro secondary stronger

        After a relatively benign close to last week, today is opening with a stronger tone across the bulk...

      • Euro secondary stalemate

        With the US absent and continuing improvements in broader markets, it was stalemate in the European...

      • Euro secondary improves

        Tone in many European securitisation secondary market sectors continues to improve in line with broa...

      • US CLOs active

        Participants in the US CLO secondary market are keeping active despite the current lack of BWIC supp...

      • Euro ABS/MBS split

        There continues to be a strong split in where activity is taking place in the European ABS/MBS secon...

      • Euro CLOs stabilising

        The European CLO secondary market looks to at last be stabilising. "This week so far has been more...

      • Euro secondary fades

        Levels and activity are fading in the European securitisation secondary market as the broader market...

  • News

    • Structured Finance

      • SCI Start the Week - 15 February

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

        Pipeline As with the previous week, pipeline additions last week were dominated by ABS. There were seven new ABS deals announced, as well as an ILS, an RMBS and two CMBS. The ABS were: US$556m ARI Fleet Lease Trust 2016-A; US$300m Avant Loans Fund...

    • CDS

      • Governmental intervention test resolved

        The three-judge external review panel convened by ISDA in connection with the Novo Banco governmental intervention credit event (GICE) question (SCI 29 January) has ruled that CDS referencing Novo Banco were not triggered on 29 December 2015 when the...

    • CMBS

      • CMBS spread widening to continue?

        An analysis of previous US CMBS corrections undertaken by Morgan Stanley CMBS strategists suggests that the current sell-off in the market is not as pronounced, despite it being the longest on record. The study indicates that while there may be perio...

  • Job Swaps

    • Structured Finance

      • Direct lending head hired

        Stuart Aronson has joined Whitehorse Capital in New York as direct lending group head. The unit prov...

      • ABS trader recruited

        Natixis has brought in Peter Cui as a director, trading ABS and CLOs. He moves from Jefferies, where...

      • SF pro switches law firm

        Colleen McDonald has moved to Sheppard, Mullin, Richter & Hampton as partner, following the...

      • Permanent chief named

        GLI Finance has appointed Andy Whelan permanent chief executive. He was previously interim ceo of th...

    • CLOs

      • Manager replacement sought

        IMC Asset Management tendered its resignation as investment manager for the Strawinsky I CLO by writ...

    • Insurance-linked securities

      • Markel names coo

        Markel CATCo Investment Management has appointed Mark Way as its first coo. The move follow...

    • Risk Management

      • OTC specialist promoted

        NetOTC has promoted derivatives risk management specialist David Maloy to coo, expanding his respons...

  • News Round-up

      • CMU package progresses

        The European Parliament is today expected to begin discussing the EU's securitisation initiative, co...

      • SFR operating expenses up

        Net operating expenses for most single-family rental (SFR) securitisations issued in 2013 and 2014 a...

      • Second SME facility closed

        The British Business Bank (BBB) has partnered with the European Investment Fund (EIF) to provide &am...

    • CDO

      • Trups defaults keep low

        Combined defaults and deferrals for US bank Trups CDOs remained at 17.4% at the end of January, acco...

      • CMBS oil exposure analysed

        Kroll Bond Rating Agency has designated US$684m of CMBS 2.0 oil exposed loans in both KBRA-rated (21...

      • FNMA aims for liquidity

        Fannie Mae has priced its latest credit risk sharing transaction under the Connecticut Avenue Securi...


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