Weekly Issue Archive »

Issue 716 - 30th October

  • News Analysis

    • CLOs
      • Election focus

        US CLOs hold up for now

        Next week’s US presidential election is holding the attention of the credit market, along with the rest of the world. However, the US CLO sector appears to be dealing with short-term concerns reasonably well, though longer-term issues conti...

    • Capital Relief Trades
      • Risk transfer boost

        US CRT market picks up

        SCI publishes regular in-depth analysis of trends and developments across the capital relief trades market, in addition to our usual news output. In this latest CRT Premium Content article, we investigate US banks' attempts to manage coronavirus-rela...

  • News

    • Structured Finance
      • SCI Start the Week - 26 October

        A review of securitisation activity over the past seven days

        Last week's stories Corona kickstart Constellation of factors coalesced to push the US CRT market forward JAAA launched New triple-A CLO ETF well received Jurisdiction expansion European ABS market update Mezz opportunity &...

      • Measurement uncertainty

        Inclusion of climate exposures in ICAAPs explored

        Many banks are planning to include climate exposures in their internal capital adequacy assessment processes (ICAAPs), but which pillar their assessments should fall under remains unclear. Nevertheless, bounding and monitoring metrics could help quan...

    • Capital Relief Trades
      • Risk transfer round-up - 26 October

        CRT sector developments and deal news

        RBS is believed to be prepping a corporate capital relief trade that is expected to close in 4Q20. The UK lender’s last significant risk transfer transaction settled earlier this year and referenced project finance loans (SCI 31 January). ...

    • CDO
      • Diverse portfolio

        Private equity CDO completed

        CMFG Life Insurance Company has completed a rare private equity collateralised fund obligation (PE CFO). Dubbed MCA Fund III Holding 2020-1, the transaction is structured as a dual SPV and is backed by a diverse pool of private equity funds, with app...

    • CLOs
      • Mind the gap

        CLO equity price and NAV data examined

        From now on SCI will be publishing regular case studies and reports on the CLO market in addition to our usual news stories on the sector. Here, we examine how CLO equity prices have fared so far over this most tumultuous of years and their relations...

  • The Structured Credit Interview

    • ABS
      • Best-of-breed network

        Zach Lewy, founder and group cio of Arrow Global Group, answers SCI's questions

        Q: How and when did Arrow Global Group become involved in the non-performing loan market? A: Arrow Global was established in 2005 as the European principal investment arm of Sallie Mae and was tasked with investing in distressed assets across the re...

  • Market Moves

    • Structured Finance
      • AMCO deal completed

        Sector developments and company hires

        AMCO deal completed Monte dei Paschi di Siena has completed an innovative €4bn limited-recourse financing in favour of the Italian Ministry of Economy and Finance’s AMCO vehicle, according to the new regulatory provisions introd...

      • Pan-European logistics CMBS prepped

        Sector developments and company hires

        Pan-European logistics CMBS prepped Blackstone Real Estate Partners is in the market with a €318.6m single-loan pan-European CMBS. Dubbed Pearl Finance 2020, the transaction is secured by 61 predominantly last-mile logistics assets across D...

      • UKML shareholder consultation continues

        Sector developments and company hires

        UKML shareholder consultation continues The board of UK Mortgages (UKML) has completed the strategic review that it commenced following the withdrawal of proposals by M&G Investment Management (MAGIM) (SCI 14 August). The review has identifi...

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