Weekly Issue Archive »

Issue 569 - 8th December

  • News Analysis

    • ABS

      • Auto ABS spread distortion eyed

        European auto ABS bonds are trading at similar spreads to unsecured corporate debt issued by the same parent company, indicating a distortion of risk in the market. The trend may eventually be broken, however, as the ECB slows its ABS purchasing prog...

    • CLOs

      • New investment era embedded

        It has been a banner year for US CLOs, with new issue volumes already topping US$100bn, plus resets and refinancings accounting for a further US$140bn. Not only have risk retention requirements embedded successfully, despite initial concerns regardin...

    • NPLs

      • Confidence boost for synthetic NPL deals

        A recent Ashurst survey notes that securitisation may prove to be the most prevalent method of non-performing loan resolution in Greece in the early years of the market, given the established infrastructure for this type of transaction. Indeed, NPL i...

  • News

    • Structured Finance

      • SCI Start the Week - 4 December

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

        Pipeline The pipeline burst back into life last week as 10 ABS deals were added. There were also three RMBS, six CMBS and two CLOs announced. The ABS were: US$200m American Credit Acceptance Receivables Trust 2017-4; US$400m Avis Budget Rental Car...

    • Capital Relief Trades

      • Innovative financial guarantee printed

        Raiffeisen's €1.2bn ROOF Slovakia 2017, which is believed to be the first synthetic securitisation of Slovak assets (SCI 1 December), strengthens the bank's common equity tier 1 ratio (fully loaded) by around 12bp at the group level. The ba...

      • Risk transfer round-up - 8 December

        Nord LB has this week closed a shipping significant risk transfer transaction dubbed Northvest 2. The €1bn shipping credits form part of a €10.1bn multi-asset portfolio. The transaction coincides with the finalisation of the out...

    • CLOs

      • MMCF CLO debuts

        TCG BDC, formerly Carlyle GMS Finance, has teamed up with Credit Partners USA, a subsidiary of Canadian pension firm PSP, in a US$400m CLO. MMCF CLO 2017-1 is a static middle-market CLO and the first to be serviced by Middle Market Credit Fu...

    • CMBS

      • Record post-crisis CRE CLO prepped

        Blackstone Mortgage Trust (BXMT), a Blackstone-owned REIT, is marketing an inaugural US$1bn CRE CLO. Dubbed BXMT 2017-FL1, the transaction is the largest CRE CLO since the crisis and will initially be backed by 31 equally-sized non-controlling intere...

  • Job Swaps

    • Structured Finance

      • Job swaps round-up - 8 December

        EMEA Clayton Euro Risk has announced that Tony Ward, ceo and president, and Simon Collingridge, client solutions and strategic delivery director, are leaving the company to pursue other business opportunities. CMS has hired Neil Hamilton as partn...


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