Weekly Issue Archive »

Issue 498 - 22nd July

  • News Analysis

    • Structured Finance

      • Weighing it up

        European ABS offerings, future in the balance

        The European secondary ABS value proposition is changing. Increasingly, credit is not investors' primary concern as relative value considerations come to the fore, while potential future developments continue to weigh on traders' minds. "The market...

    • ABS

      • CDQ development

        Originator consolidation to drive issuance up?

        The €1.47bn Towers CQ transaction, which closed last month, is the first Italian salary assignment loan ABS to be publicly placed in over a year. However, originator consolidation could spur increased volumes in the sector going forward. ...

    • NPLs

      • Fragile China

        NPL deals expose country's wider debt issues

        Non-performing loan securitisations ended an eight-year hiatus in China in late May when Bank of China (BOC) and China Merchants Bank (CMB) both issued new deals. Both transactions have been deemed a success by market participants, but also highlight...

    • Structured Finance

      • Volume growing

        ABS issuance heading up Down Under

        Australian primary ABS issuance has climbed steadily since 2008 - with a brief dip in 2012, when banks favoured covered bond issuance - and despite a slow start to 2016, this year is also expected to yield a healthy total. Full-ye...

  • SCIWire

    • Secondary markets

      • Euro CLOs sporadic

        Activity in the European CLO secondary market is sporadic in terms of volume and types of participan...

      • US CMBS supply surges

        The US CMBS market came to life last week, as a high volume of bid-list paper made the rounds. Activ...

      • Euro secondary firm

        Spreads across the European securitisation secondary market are remaining firm. Wider market posit...

      • US CLOs rolling on

        The US CLO secondary market is maintaining its momentum, particularly in the middle of the stack. ...

  • News

    • Structured Finance

      • SCI Start the Week - 18 July

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

        Pipeline Last week's pipeline additions included a decent mix of MBS names. In the end there were six new ABS, three RMBS, three CMBS and two CLOs added. The ABS were: €700m BBVA Consumo 8; US$318.5m CPS Auto Receivables Trust 2016-C; US...

    • CMBS

      • Ralph Lauren exposure gauged

        Ralph Lauren last month announced plans to restructure, including the closure of about 50 of its retail locations. The firm has not yet disclosed which stores will be affected, but Morningstar Credit Ratings has identified 30 US CMBS loans -...

  • Job Swaps

    • Structured Finance

      • Investment chief replaced

        Peter Schmidt-Fellner is retiring as cio and a director of NewStar Financial, but will remain involv...

      • Transaction head hired

        CBRE has recruited Vishnu Reddy as a senior director and head of transaction management within its c...

    • Insurance-linked securities
    • Risk Management

      • OTC clearing head named

        Hong Kong Exchanges and Clearing (HKEX) has appointed Jacky Mak as md, head of OTC clearing. He will...

    • RMBS

      • Aussie merger agreed

        Homeloans has entered into a scheme implementation agreement (SIA) with RESIMAC, which provides for...

  • News Round-up

      • Ratings status clarified

        PREPA has disclosed that it has not yet initiated the formal rating process for its new securitisati...

    • Structured Finance

      • Placed issuance up

        €74.5bn of securitised product was issued in Europe in 2Q16, according to AFME's latest da...

      • Trups CDO deferrals dip

        The number of US bank Trups CDOs combined defaults and deferrals decreased from 16.6% at the end of...

      • CDS commitments accepted

        The European Commission (EC) has accepted commitments by ISDA and IHS Markit on CDS licensing (SCI 2...

    • Insurance-linked securities

      • ILS spreads hit new high

        ILS issuance slowed in 2Q16 from the record-breaking first quarter, with only US$800m in catastrophe...

      • Spanish full-recourse eyed

        Conditions that guarantee the payment of a Spanish mortgage loan if the sale of the property at auct...

      • Granite sale examined

        The UK National Audit Office (NAO) has praised the British government for its £13.3bn sale...


Print this issue Click here to access this issue in print format

×