Issue 789 - 14th April
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News Analysis
- ABS
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Perfect storm
Cat bond market set for exponential growth?
With the climate threat menacing ever more, is the catastrophe bond market set to see exponential growth? This Premium Content article investigates. This year, the catastrophe bond sector reached a landmark anniversary, marking 25 years since its i...
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- Capital Relief Trades
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SRT hedge eyed
Index tranches mulled as synthetic ABS hedge
Investors have been concerned about negative convexity in credit markets as ultra-low spreads and inflationary pressures renders positive convexity in strategies necessary. Index tranches and particularly the equity pieces of these structures can off...
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- RMBS
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Landmark ruling
HEAT decision "watershed" for RMBS litigation
The New York Court of Appeals last month issued a landmark ruling in a case involving US Bank National Association versus DLJ Mortgage Capital, relating to the Home Equity Asset Trust (HEAT) 2007-1 transaction. The precedent-setting decision has rami...
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- ABS
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Finding funding
European solar ABS tipped for acceleration
Securitisation could play a vital role in funding the European energy transition, with households likely to bear the brunt of the switch to renewable energy. As the Ukraine conflict continues to raise concerns over Russian energy dependency across Eu...
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- ABS
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News
- ABS
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Hellenic ABS inked
Project Starlight package transaction agreed
Hellenic Bank has agreed a package transaction involving the securitisation of the Starlight Portfolio – which comprises circa €1.32bn of non-performing exposures - and the sale of its servicing platform, APS Debt Servicer, to Oxal...
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Dutch courage
European ABS/MBS market update
The European and UK ABS/MBS markets are looking to take full advantage of a recent surge in activity. This week, with a number of deals due to price, the market will try to maintain its strong momentum into the Easter break. After feeling the full...
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- Structured Finance
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SCI Start the Week - 11 April
A review of SCI's latest content
Last week's news and analysis Covid-19: The effects on the securitisation sector TJ Durkin, head of structured credit at Angelo Gordon explores the immediate and longer-term Dual shocks Securitisation well positioned to withstand head...
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- Capital Relief Trades
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Large Algonquin
BMO prices first Algonquin SRT since 2020
Bank of Montreal has priced and settled Algonquin 2022-1, its first deal off this platform since January 2020, say sources close to the deal. The five tranche SRT trade references a $7.5bn portfolio of mid-sized Canadian and US corporate l...
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Risk transfer round up-11 April
CRT sector developments and deal news
Intesa Sanpaolo is believed to be readying a synthetic securitisation that is backed by residential mortgages. The Italian lender’s last synthetic RMBS was finalized in September 2021 (see SCI’s capital relief trades database). ...
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- ABS
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Market Moves
- Structured Finance
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PCMA appoints new MD
Sector developments and company hires
PCMA welcomes Thien Nguyen to its senior leadership and investment team as the firm bolsters its expertise in super prime, private client credit. Nguyen will focus on establishing new and managing existing investment strategies and capital market sol...
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Amended risk retention RTS published
Sector developments and company hires
Amended risk retention RTS published The EBA has published its final draft regulatory technical standards (RTS) specifying the requirements for originators, sponsors and original lenders related to risk retention, as laid down in the Securitisation...
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IIG exec sentenced to prison
Sector developments and company hires
IIG exec sentenced to prison David Hu, former managing partner and cio International Investment Group (IIG), has been sentenced to 12 years in prison for his role in an over US$120m scheme to defraud IIG’s clients and investors (SCI 29 J...
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- Structured Finance
 
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