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Issue 566 - 17th November

  • News Analysis

    • Insurance-linked securities

      • Mortgage ILS breaks new ground

        Arch Capital Group recently closed its first public rated mortgage ILS (SCI 18 October). Dubbed Bellemeade Re 2017-1, the US$368.11m transaction features structural departures from previous deals in the programme, while Morningstar Credit Rating's ra...

    • CLOs

      • Middle market boost?

        Two significant trends are emerging in middle market CLOs that are expected to boost diversity across the sector. However, it remains unclear whether these developments will ultimately translate into increased volumes. According to DBRS md and head...

    • CMBS

      • UK CMBS could signal turning point

        Bank of America Merrill Lynch is marketing a Blackstone-sponsored UK CMBS - the first European conduit CMBS since early last year - signalling a possible turning point for the asset class and a potential surge in issuance. Dubbed Taurus 2017-2, the &...

  • News

    • Structured Finance

      • SCI Start the Week - 13 November

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

        Pipeline There were even more additions to the pipeline last week than there had been in the week before. The new arrivals consisted of 18 ABS, eight RMBS, three CMBS and two CLOs. The ABS were: US$221.2m Access Point Funding I 2017-A; US$560m All...

    • Capital Relief Trades

      • Risk transfer round-up - 17 November

        RBS hit the market this week with its first DBRS-rated risk transfer transaction, dubbed Nightingale Securities 2017-1. The £390.2m CLN references a mixture of asset types, with a WAL of 4.5 years and a sequential amortisation structure, as...

    • CLOs

      • CLO with euro, dollar seniors prices

        Black Diamond Capital Management last week priced a CLO with both euro-denominated and US dollar-denominated notes. The senior notes of Black Diamond 2017-2 have been rated triple-A by S&P. The €142m A1 notes and US$55.8m A2 notes...

  • Talking Point

    • Capital Relief Trades

      • Call for increased standardisation

        Ahead of the EBA's public hearing tomorrow on its significant risk transfer (SRT) discussion paper (SCI 28 September), SCI undertook a straw poll of industry opinion on the document. The exercise revealed an overall positive response, although some a...

  • Job Swaps

    • Structured Finance

      • Job swaps round-up - 17 November

        EMEA CSC has hired Jonathan Hanly as md to its Ireland office, Hinnerk Koch as md to its Luxembourg office and Aline Sternberg as head of transaction services in the UK. Hanly has previous executive leadership roles with the Intertrust Group, SFM E...


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