Weekly Issue Archive »

Issue 645 - 7th June

  • News Analysis

    • Capital Relief Trades

      • MRT potential

        Reinsurer opportunities eyed

        The mortgage risk transfer (MRT) programme in the US has the potential to rival natural catastrophe reinsurance, given the significant capacity required by insureds and insurance firms’ appetite for diversification. Until now, the most comm...

  • Market Reports

    • Structured Finance

      • Easing up

        European ABS market update

        Activity levels have been high across European ABS/MBS and CLOs of late, but appear to be easing up ahead of the Global ABS conference next week. “It’s been pretty busy in both primary and secondary over the past couple of weeks...

  • News

    • Structured Finance

      • SCI Start the Week - 3 June

        A review of securitisation activity over the past seven days

        Transactions of the week The buy-to-let RMBS market continues to see heavy issuance in Europe with two new transactions marketing this week (SCI 29 May). One is a prime inaugural securitisation from UK marketplace lending firm LendInvest, while the...

      • 'Significant divergence' in Libor preparations

        Libor transition still 'choice rather than necessity' for some firms

        There are still a “number” of firms in the UK that view the transition from Libor to a new reference rate a choice, rather than a necessity, according to the responses from a request for information published by the UK's f...

    • Capital Relief Trades

      • Risk transfer round-up - 7 June

        CRT sector developments and deal news

        Santander is believed to be readying three SME significant risk transfer transactions, along with a rumoured auto deal. The Spanish lender’s last SME SRT closed in July. Dubbed FT Pymes Magdalena, the €166.3m CLN pays 8.85% and ref...

    • CMBS

      • Lineage lines up

        UK cold storage CMBS debuts

        Lineage Logistics Holdings is in the market with a CMBS backed by 14 temperature-controlled and ambient storage industrial properties located throughout the UK. Dubbed Cold Finance, the deal securitises a £282.8m floating-rate senior loan a...

    • NPLs

      • JV announced

        Intrum acquires Piraeus platform

        Intrum is set to purchase Piraeus Bank’s servicing platform, which will be hived-off into a separate €410m legal entity dubbed NewCo. The transaction is Intrum’s first such acquisition in Greece and follows its joint vent...

      • Deleveraging continues

        UniCredit expands NPL ABS programme

        UniCredit has expanded its Sandokan non-performing loan ABS programme. While the transaction is being carried out for asset management purposes, deconsolidation is expected to be achieved at some point, with the bank aiming for a gradual approach in...

    • RMBS

      • Option boost?

        Conditions ripe for UK RMBS calls

        Ten UK RMBS transactions have call dates during the remainder of the year and the refinancing of these deals should boost issuance volumes (SCI 18 January). However, while the incentives and conditions for exercising these calls are present, funding...

  • Market Moves

    • Structured Finance

      • Bank bulks up commodities expertise

        Company hires and sector developments

        Bank bulks out commodities unit Credit Agricole has hired Aude Sauty de Chalon as director, structured commodity finance, EMEA. She was previously deputy head of commodity and structured finance at ICBC, London. The firm has also hired Bad...

      • Agri-linked note prepped

        Company hires and sector developments

        Agri-linked note prepped The African Development Bank has approved a €100m partial credit guarantee (PCG) to African Agriculture Impact Investments (Mauritius) to develop commercial agriculture in Africa. The company will leverage the PCG...

      • New P2P platform rules announced

        Sector developments and company hires

        ABS facility expands Amigo Holdings has increased its securitisation facility to £300m. It has a three-year term and is set to close on Thursday. The company intends to use drawdowns from the facility for general corporate purposes and th...

      • Livestock first inked

        Sector developments and company hires

        Australian livestock deal debuts StockCo has launched the first securitisation warehouse transaction in Australia consisting of financing receivables primarily secured by livestock. The transaction has been completed with Goldman Sachs and the faci...


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