Issue 615 - 2nd November
-
News Analysis
- CMBS
-
Retail rifts
UK CMBS impact limited despite store closures
Debenhams is the most recent UK retailer to announce a raft of store closures, further signalling the decline of the traditional retail sector in the country, although online retailers continue to perform well. Despite this, there is not lik...
-
- CMBS
-
News
- Structured Finance
-
SCI Start the Week - 29 October
A review of securitisation activity over the past seven days
Market commentary The US secondary CLO market saw heightened activity last week, with bid-lists circulating containing up to 68 line items (see SCI’s BWIC calendar). “We are seeing a clean-up of triple-A to single-A notes. Ther...
-
- Capital Relief Trades
-
Risk transfer round-up - 2 November
CRT sector developments and deal news
Santander is believed to be readying two consumer capital relief trades and a corporate deal to print this quarter. The Spanish lender has been one of the most active issuers in 4Q18, having issued a commercial real estate deal, a project finance dea...
-
- CMBS
-
Health check
Sears bankruptcy exposure gauged
Morningstar Credit Ratings has identified 28 CMBS loans, representing an allocated property balance of US$2.17bn, with exposure to stores that will close as part of Sears Holding Corp’s Chapter 11 bankruptcy filing. Sears’ departu...
-
- RMBS
-
Reverse mortgage deal prepped
First reverse mortgage RMBS since 2007 markets
Waterfall Asset Management is marketing the first publically-rated RMBS backed by reverse mortgages since 2007. Dubbed CFMT 2018-RM2, the US$571.8m transaction is backed by 915 active, proprietary reverse mortgage loans originated between 2002 and 20...
-
- Structured Finance
-
Market Moves
- Structured Finance
-
Market moves update
Sector developments and new hires in structured finance
Acquisitions Franklin Templeton has acquired Benefit Street Partners, expanding its fixed income capabilities to include an array of alternative credit strategies. The combination of BSP’s experience and capabilities with Franklin Templet...
-
-
-
Market moves update
Company hires and sector developments in structured finance
Acquisitions Lennar Corporation has agreed to sell its Rialto Investment and Asset Management business to investment funds managed by Stone Point Capital for US$340m. The transaction is scheduled to close on 30 November, subject to consent by the f...
-
-
-
Market moves update
Company hires and sector developments
ACIS resets due The Chapter 11 trustee has filed a third amended joint plan for Acis Capital Management and a notice confirming a court order that: conditionally approves its disclosure statement; schedules a combined hearing regarding final approv...
-
- Structured Finance
![]() ![]() ![]() ![]() ![]() |