Weekly Issue Archive »

Issue 625 - 18th January

  • News Analysis

    • RMBS

      • First steps

        Manufactured housing RMBS to re-emerge?

        The assignment by Fitch of a primary manufactured housing (MH) specialty servicing rating of RPS3- to Cascade Financial Services is being seen as a first step towards building a post-crisis MH RMBS market. The move also signals a shift in manufacture...

    • Structured Finance

      • STS-compliant ABS issuance to be 'higher than expected'

        Lack of certainty continues around areas of Securitisation Regulation

        The EU Securitisation Regulation came into force as of 1 January this year, despite several parts of the legislation not yet having been finalised and amid concerns that market participants may lack the necessary infrastructure to adequately comply....

    • RMBS

      • Redemption relief?

        RMBS calls could boost European supply

        The European securitisation pipeline remains all but empty as regulatory uncertainty continues to hamper new issuance activity. Upcoming optional redemption dates could provide a much-needed source of supply, however, with the potential restructuring...

    • Capital Relief Trades

      • CRT growth continues

        Tighter pricing trend points to expanding market

        The year 2018 saw a flurry of capital relief trades referencing various asset classes that were priced at tighter levels compared to previous years. Such activity is a reflection of the good performance of the underlying collateral and increased inve...

  • Market Reports

    • CLOs

      • CLOs rebound

        US CLO market update

        US CLO spreads have tightened from December and the pipeline is bulging, as confidence returns to the market. “Investors have been coming back to the market, so spreads have tightened and deals are being done. Triple-B mezz pieces, for ex...

  • News

    • Structured Finance

      • SCI Start the Week - 14 January

        A review of securitisation activity over the past seven days

        Transaction of the week BBVA has completed an innovative transaction that synchronises credit events with IFRS 9 lifetime expected loss provisions, while also being the first synthetic securitisation to incorporate blockchain technology (SCI 21 Dece...

    • NPLs

      • Fintech deal completed

        Cerberus and Debitos close NPL transaction

        Cerberus has acquired a €2.1bn portfolio of Italian unsecured non-performing loans via online auction platform Debitos. The move is believed to be the largest NPL transaction undertaken in the fintech sector. The purchase price of the port...

  • Market Moves

    • Structured Finance

      • Agency launches new Euro office

        Company hires and sector developments

        Europe Alantra has hired James Fadel as md. He was previously head of structured finance advisory at Deloitte. DBRS has opened a new office in Madrid, making this its third European office - it is already up and running with analysts having reloc...

      • Risk retention for Japan?

        Sector developments and company hires

        ILS Sarah Demerling has joined Walkers Bermuda as a partner in the firm's corporate, finance and funds group. With more than 17 years' experience in the financial services industry in Bermuda, Demerling adds asset management, invest...

      • Global investor promotes duo

        Sector development and company hires

        Europe Martin Munte has been named director, investor relations at CVC Credit Partners in London. He was previously director, sales for Germany, Austria and Luxembourg at BlueBay Asset Management. Zenith Service has recruited Maria Bianca Mascher...

      • Innovative ILS transaction launched

        Sector developments and company hires

        Auto ILS closed AlphaCat Managers has securitised a non-standard passenger auto insurance portfolio. “This innovative transaction creates new ILS market opportunities in securitizing broader classes of insurance risk. We look forward to w...


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