Weekly Issue Archive »

Issue 811 - 16th September

  • News Analysis

    • CDS
      • CDS triggered

        Russian CDS finally pays out

        Russian CDS contracts have finally paid out on 12 September following months of complications given Western sanctions against Moscow (SCI 8 March). Nevertheless, an imbalance between Russian bond supply and demand persists and that remains to be clea...

  • News

    • Structured Finance
      • SCI Start the Week - 12 September

        A review of SCI's latest content

        Don’t miss out on your chance to be recognised in the inaugural SCI MM CLO Awards! The submissions deadline is 20 September. For more information, click here. Last week's news and analysis Full stack SRT prepped BDK readies ca...

    • Capital Relief Trades
      • Risk transfer round up-12 September

        CRT sector developments and deal news

        BCP is believed to be readying a synthetic securitisation backed by Portuguese SME loans alongside a CRT backed by a polish portfolio (SCI 1 August). Meanwhile, BNP Paribas is allegedly arranging a synthetic securitisation of commercial real estate...

      • Full stack SRT priced

        BDK prices SRT as banks diverge on excess spread

        Bank Deutsches Kraftfahrzeuggewerbe (BDK) via its arranger Societe Generale has priced its latest full stack capital relief trade from the Red and Black programme (SCI 9 September). Meanwhile BNP Paribas is marketing the latest full stack CRT from th...

    • CMBS
      • CMBS sickness

        Rising rates imperil issuance and refinancing

        CMBS issuance is expected to be down for the foreseeable future due to higher rates, wider spreads and difficulties with refinancing, according to a new report from Moody's. There have been only three multi borrower conduit deals this quart...

    • Insurance-linked securities
      • Rare sighting: the lesser spotted MILN

        Essent re-opens the MILN market after five-month layoff

        Essent Guaranty is in the market with the first mortgage insurance-linked note (MILN) since April. Dubbed Radnor Re 2022-1 Ltd, the deal consists of an M-1A tranche rated Ba2 by Moody’s and an M-2A tranche rated B1. Following the exampl...

  • The Structured Credit Interview

    • Structured Finance
      • Branching out

        Thomas Majewski, managing partner and founder of Eagle Point Credit Management, answers SCI's questi...

        Q: Eagle Point recently announced its expansion into the ABS, MBS and SRT markets, which will be led by Karan Chabba as head of ABS, MBS, SRT and speciality finance (SCI 19 July). What were the motivations behind branching out into these markets? A:...

  • Market Moves

    • Structured Finance
      • Multifamily JV poaches CBRE team

        Sector developments and company hires

        Multifamily JV poaches CBRE team A veteran equity, debt and structured financing (EDSF) team, led by vice-chair Craig Branton, has joined Cushman & Wakefield and Greystone Servicing Company in Denver, Colorado. Previously with CBRE, the thre...

      • Apollo's Harris launches alternatives shop

        Sector developments and company hires

        Apollo’s Harris launches alternatives shop Apollo Global Management co-founder Josh Harris has launched 26North Partners, an alternative asset management firm that aims to generate compelling returns across asset classes and capital struct...

      • Controversial Revlon decision reversed

        Sector developments and company hires

        Controversial Revlon decision reversed The US Circuit Court for the Second Circuit last week reversed the controversial decision by the District Court for the Southern District of New York (SDNY) that permitted lenders to retain the mistaken payment...

      • Dignity Finance restructuring mooted

        Sector developments and company hires

        Dignity Finance restructuring mooted UK funeral provider Dignity has launched a consent solicitation with noteholders of its whole business securitisation, Dignity Finance, in relation to a deleveraging proposal. Following the award of a temporary...

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