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Issue 728 - 5th February

  • News Analysis

      • Euro CLO shift

        Primary market comes into focus

        A buoyant start to the year for the European CLO market has been supported by strong secondary market activity driving spreads to new tights in January. Meanwhile, the primary market got off to a slow start, but over the past week has begun to attrac...

    • Regulation
      • Big Brother Biden

        Democrat control of key committees puts securitized market on alert

        The US structured finance industry will feel the hand of the new administration of President Biden most heavily through Democratic control of key financial Congressional committees rather than legislation, says Andrew Olmem, a partner in Mayer Brown&...

    • RMBS
      • Origination innovation

        Fintechs, specialist mortgage lenders gaining traction

        The coronavirus fallout appears to be accelerating innovation in mortgage products and origination practices. At the same time, complexity surrounding borrower circumstances is facilitating increased activity by capital markets-funded specialist mort...

  • News

    • Structured Finance
      • SCI Start the Week - 1 February

        A review of securitisation activity over the past seven days

        Last week's stories 2021 STACR debut Freddie Mac prints first CRT trade of 2021 inside guidance Consumer SRT prepped Santander readies full-stack ABS Liquidity impact Post-Brexit divergence highlighted Mind the gap Innovative ILS stru...

    • RMBS
      • Beware the ides of March

        The end of mortgage forbearance schemes is ominous for MBS

        Mortgage-related forbearance has been a lifeline for borrowers and the MBS market, but for many debtors that lifeline will run out at the end of the March.  Without additional action from the new government, over 600,000 seriously delinquent...

  • Market moves

    • Structured Finance
      • Leasing CRT inked

        Sector developments and company hires

        Leasing CRT inked The EIB Group has completed its first synthetic securitisation in Romania with a financial services partner. The operation - between the EIB, EIF and Deutsche Leasing Romania - will enable local SMEs across Romania to benefit from...

      • Biomedical credit opps fund launched

        Sector developments and company hires

        Biomedical credit opps fund launched Multi-strategy life sciences investment firm Catalio Capital Management has launched a credit opportunities strategy to meet the growing demand for non-dilutive growth capital within the biomedical sector. The Ca...

      • Credit manager merger

        Sector developments and company hires

        Credit manager merger Cairn Capital Group is set to acquire and merge with Bybrook Capital, a specialist distressed credit manager based in London. The merger will create a diversified alternative credit manager with approximately US$8bn in assets...

      • Motor insurer preps ILS strategy

        Sector developments and company hires

        Motor insurer preps ILS strategy UK specialist motor insurer ERS Group is set to launch an integrated ILS offering as part of its plans to progress its commercial expansion. Three complementary investment strategies will be offered: an open-ended ma...

      • Iberian NPL ABS performance eyed

        Sector developments and company hires

        Iberian NPL ABS performance eyed The cumulative collection ratio for the DUERO 1 non-performing loan securitisation has consistently breached its trigger level for an interest subordination event – which is set at 90% - since the April 202...

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