Issue 787 - 1st April
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News Analysis
- Capital Relief Trades
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Positive outlook persists
Recession remains unlikely
The war in Ukraine is complicating existing supply chain issues and raising input costs for corporate borrowers just as central banks are set to tighten financial conditions in response to rising inflation. However, pent up demand, rising capital exp...
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- Structured Finance
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Quality control
Call for ESG data improvements
The lack of clear, unified standards continues to constrain the wider adoption of ESG securitisation in the EU. In order to fulfill investor demand for such product, both the quality and quantity of ESG data needs to improve, according to panelists a...
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- CLOs
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Keeping score
ESG CLO challenges highlighted
The role that CLOs can play in the sustainability agenda is becoming increasingly difficult to ignore, given the push towards Article 8 transactions under the SFDR (SCI 21 December 2021). Against this backdrop, a recent study undertaken by Scope Rati...
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- ABS
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Robotic revolution
QSR innovation continues to bolster WBS performance
Issuers of quick-service restaurant (QSR) whole business securitisations adopted a number of strategies to survive the Covid-19 pandemic. As trends towards off-premise dining and delivery continue to produce increased revenue, these strategies are ex...
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- Capital Relief Trades
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News
- ABS
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Guarantee on tap
WBS liquidity facility replaced
Assured Guaranty UK (AGUK) has issued a £170m five-year debt service reserve (DSR) guarantee to benefit Yorkshire Water Services, part of the Yorkshire Water group. The guarantee was structured to fit within Yorkshire Water Services&rsq...
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Cautious optimism
European ABS/MBS market update
Following a clear pick-up in activity last week, the European and UK primary ABS/MBS markets have carried over that dynamism into this week. Optimism is, it seems, back on the cards for now. “Well, I think things are much more positive,&a...
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- Structured Finance
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SCI Start the Week - 28 March
A review of SCI's latest content
NPL awards open The submissions period has opened for SCI’s inaugural NPL Securitisation Awards, covering the European non-performing loan securitisation market. The qualifying period is the 12 months to 31 March 2022. Nominations should...
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- Capital Relief Trades
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Call option pending?
APAC SRT could be called this year
Credit Suisse has a scheduled call date this year for a synthetic securitisation that is fully backed by Asia Pacific corporate loans. Capital relief trades backed entirely by Asia Pacific exposures are extremely rare (SCI 11 September 2020). The t...
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- ABS
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Talking Point
- Structured Finance
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How can I manage a thriving CLO platform?
Dana Carey, cio, MidOcean Credit Partners, explains that managing a successful CLO platform is like assembling a jigsaw puzzle – there are many complex pieces that need to fit together for it to create an efficient, effective and cohesive f...
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- Structured Finance
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Market Moves
- Structured Finance
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Sixth Street establishes structured products business
Sector developments and company hires
Sixth Street has announced the formation of a dedicated structured products business to further enhance its capabilities as a strategic capital partner and solutions provider at scale. Sixth Street structured products builds upon the firm’s...
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First Eagle Investments to acquire Napier Park Global Capital
Sector developments and company hires
First Eagle Investments has announced its agreement to acquire leading alternative credit manager, Napier Park Global. The deal is expected to close within the next few months, and will see Napier Park retain its investment and operating autonomy. At...
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BNP Paribas Asset Management acquires majority stake in Dynamic Credit Group
Sector developments and company hires
BNP Paribas Asset Management has announced the completion of its acquisition of a majority stake in Dutch asset manager, Dynamic Credit Group (DCG). The acquisition marks an important step in BNPP AM’s strategic plan to expand its investmen...
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- Structured Finance
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