Weekly Issue Archive »

Issue 479 - 11th March

  • SCIWire

    • Secondary markets

      • Euro secondary pick-up?

        After a very slow start to the week yesterday European securitisation secondary market activity look...

      • Euro secondary sidelined

        The improving macro picture has so far failed to encourage the majority of participants back into th...

      • US CMBS still split

        The divergence in synthetic and cash spreads continues to pre-occupy the US non-agency CMBS secondar...

      • Euro secondary stable

        The European securitisation secondary market remains stable despite signs of an uptick in volume. ...

      • US CLO see-saw

        Activity and price levels continue to see-saw in the US CLO secondary market. "Market tone is pret...

  • News

    • Structured Finance

      • SCI Start the Week - 7 March

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

        Pipeline With many market participants decamped to Las Vegas for the industry conference, pipeline activity last week was muted. There were four ABS and four RMBS added. US$440m California Republic Auto Receivables Trust 2016-1, US$991.28m Capital...

      • ECB looks to provide boost

        A new set of measures announced by the ECB could boost ABS supply. The central bank is launching a second TLTRO programme, expanding QE and cutting rates. The ECB's deposit rate has been cut by 10bp to -0.4%. Its main refinancing rate has been cut...

    • CLOs

      • CLOs cut oil exposure

        While the oil and gas sectors have been a relatively small part of the leveraged loan universe, US CLO exposure to these sectors varies greatly across deals. Combined with idiosyncratic issues in other sectors, the impact on CLOs has been significant...

  • Talking Point

    • Structured Finance

      • Increased appetite

        European direct lenders moving towards US model

        Direct lenders tend to focus on assets that aren't mainstream securitisation candidates and in that sense can be complementary to banks. However, panellists at SCI's inaugural Marketplace, Direct Lending & Securitisation Seminar last month ex...

  • Provider Profile

    • Structured Finance

      • Energy boost

        Renovate America capital markets md Craig Braun and capital markets svp Adam Garfinkle answer SCI's ...

        Q: How and when did Renovate America become involved in the securitisation market? Braun: We started originating PACE loans in 2012 and we securitised our first HERO bonds in 2014. PACE provides a financing alternative for homeowners when they need...

  • Job Swaps

    • Structured Finance

      • Promotion due at Och-Ziff

        Nim Sivakumaran is set to replace Donald La Vigne as head of European structured credit strategies a...

      • SIV lawsuit concluded

        The California Public Employees' Retirement System has settled its case against Moody's for a record...

      • Babson pair poached

        Intermediate Capital Group has unveiled what it describes as a major investment in the development o...

      • Fee waivers introduced

        TICC Capital Corp, in consultation with its special committee, has agreed to a series of ongoing wai...

    • Insurance-linked securities

      • ILW platform bolstered

        Stefano Nicolini has joined Beach & Associates as a vp and will be aid in the development of...

    • RMBS

      • MBS REITs to merge

        ARMOUR Residential REIT is set to acquire JAVELIN Mortgage Investment Corp for a consideration to be...

  • News Round-up

      • PREPA progress reviewed

        The extended deadline for PREPA to submit a new rate plan to Puerto Rico's new energy commission (SC...

    • CDS

      • CDS exposures assessed

        A new Office of Financial Research (OFR) working paper uses CDS data to evaluate the impact on banks...

    • CLOs

      • Step-up tranche refinanced

        Apollo Credit Management has refinanced the US$120m class A1b notes from its ALM VIII CLO, marking t...

      • Pay-off percentage slips

        Trepp reports that the percentage of US CMBS loans paying off on their balloon date slipped modestly...

    • Insurance-linked securities

      • Securis launches ILS fund

        Securis Investment Partners is launching a fund which will enable investors to participate directly...

    • Risk Management

      • ESAs publish OTC RTS

        The European Supervisory Authorities (ESAs) - EBA, EIOPA and ESMA - have publish...

    • RMBS

      • RFC issued on Indian RMBS

        Moody's has published a request for comment on its proposed approach to rating Indian RMBS. The agen...


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