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Issue 640 - 3rd May

  • News Analysis

    • ABS
      • Servicing consolidation

        Subprime auto portfolio transfers gain traction

        US subprime auto loan portfolio sales activity is expected to increase as further lenders withdraw from the sector. Indeed, recent high-profile lender defaults underline the importance of having a proactive backup servicer in place. “Ther...

    • Structured Finance
      • STS 'not enough' for European ABS revival

        Securitisation 'needs to be used more' as funding tool

        At the start of last year, BNP Paribas Asset Management hired Michel Fryszman as its new head of structured finance to oversee three UCITS funds, each investing in securitisations and loan portfolios. While the funds have a fairly b...

    • Capital Relief Trades
      • Challenges persist

        Structuring issues put shipping SRTs on hold

        Capital relief trades referencing shipping loans have long been discussed and planned by a small number of issuers and arrangers. However, low performing portfolios and structural complexities pertaining to mixed portfolios that include shipping loan...

  • News

    • Structured Finance
      • SCI Start the Week - 29 April

        A review of securitisation activity over the past seven days

        Deal-related news EJF Capital is eyeing opportunities in Europe, as bank consolidation pressures grow and rates continue to rise. However, the firm's plans remain at an early stage, given that European consolidation lags behind that of US banks...

    • Capital Relief Trades
      • Risk transfer round-up - 3 May

        CRT sector developments and deal news

        Santander is rumoured to be readying an SME transaction from its Magdalena programme for 2Q19.The transaction would be the issuer’s third-ever Magdalena deal. The second Magdalena deal, dubbed FT Pymes Magdalena, was completed last August...

    • NPLs
      • Line-up finalised

        NPL event includes UTP workshop

        The line-up for SCI’s 2nd Annual NPL Securitisation Seminar on 13 May has been finalised. Hosted by Orrick at Corso di Porta Romana 61, Milan, the event features a Distressed Technologies workshop highlighting new models of credit managemen...

      • NPL acquisition completed

        Hoist Finance purchases Getback portfolio

        Hoist Finance has acquired a PLN400m non-performing loan portfolio from Polish servicer Getback. Over 95% of the assets are non-performing unsecured consumer loans, but a small proportion comprises secured consumer and SME loans. The acquisition conc...

  • The Structured Credit Interview

    • CMBS
      • Single-source solution

        Pat Jackson, ceo and founder of Sabal Capital Partners, answers SCI's questions

        Q: How and when did Sabal Capital Partners become involved in the securitisation market? A: I founded Sabal Capital Partners in February 2009, with the aim of focusing on the aftermath of the financial crisis and buying distressed commercial real es...

  • Market Moves

    • Structured Finance
      • SFR issuer prepays class F notes

        Sector developments and company hires

        EMEA Alantra has reinforced its portfolio advisory capabilities with the addition of six senior professionals in Lisbon (Ana Almeida, as a director), London (Jim Fadel, md; Robin Michaels, director; and Meena Evans, vp), Madrid (Valerie Castro, di...

      • First SOFR-indexed MBS tranche inked

        Sector developments and company hires

        Claims predictability to improve? The Florida legislature last month passed a bill to reform the requirements for the assignment of benefits of claims for residential and commercial property insurance, which could improve the predictability of claim...

      • Rating agency appoints new SF head

        Company hires and sector developments

        Bank bulks up Macquarie has appointed Carolyn Porretta md, structured finance and real estate, based in London. She was previously head of portfolio services, investment portfolio management at AIG, where she was responsible for managing structured...

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