Weekly Issue Archive »

Issue 813 - 30th September

  • News Analysis

    • Capital Relief Trades

      • 'Specialist-squared' solution?

        Renewable energy SRT challenges addressed

        Banks are expected to substantially grow their lending in the renewable energy sector, driven by ambitious net-zero programmes and government efforts to meet climate targets, heightened further by recent geopolitical tensions. Risk-sharing transactio...

    • Structured Finance

      • Split opinion

        Recession considerations discussed

        The jury is still out on the likely impact of next year’s forecast recession on the securitisation market. However, panellists at S&P’s European Securitisation Conference earlier this month did concur that the situation is...

    • ABS

      • Bright spots

        IRA set to boost solar ABS origination

        The US solar ABS market is poised for growth, following the passage of the Inflation Reduction Act (IRA) last month. In particular, the extension and expansion of the investment tax credit (ITC) is set to encourage consumer engagement with solar pane...

  • News

    • ABS

      • Primary stutters as secondary swamped

        European ABS/MBS market update

        In what has been a week of political and financial turmoil since last Friday’s UK mini-budget, two deals were pulled, though two more made it over the line. At the same time, the secondary market was flooded with BWICs, driving some hefty v...

    • Structured Finance

      • SCI In Conversation podcast is now live!

        We discuss the hottest topics in securitisation today...

        In this inaugural episode of the SCI In Conversation podcast, Angela Sharda chats to KBRA European research head Gordon Kerr about a European securitisation investor survey the rating agency undertook in June and the implications of the findings toda...

      • SCI Start the Week - 26 September

        A review of SCI's latest content

        Last week's news and analysis CRT wave continues Goldman Sachs prices leveraged loan CRT Investment slowdown EIF expected to reduce SRT investments this year Legitimate questions STS synthetics adoption discussed Singular CRT ...

    • Capital Relief Trades

      • Golden Arch

        Arch sells second MILN of 2022 at wide prints

        Arch has printed Bellemeade Re 2022-02, worth $201m, its second mortgage insurance-linked note (MILN) of the year. This is only the fourth deal in this sector in 2022 as wider spreads have deterred issuers. Essent priced Radnor 2022-01 earlier this...

      • Risk transfer round up-27 September

        CRT sector developments and deal news

        Standard Chartered is believed to be readying another capital relief trade of US and European corporate loans from the Chakra programme. The last Chakra deal closed in December last year (SCI 15 December 2021). Stelios Papadopoulos ...

      • New BMO CRT asset

        BMO brings capital call facility CRT

        Bank of Montreal (BMO) has added capital call facilities to its broad CRT effort in a new deal which closed yesterday (September 29), say sources close to the issue. The new trade is dubbed Killarney Series 1, and is worth $100m of party-paid float...

      • Spanish SRT launched

        Magdalena six prices wider

        Santander has finalized the sixth synthetic securitisation of Spanish SMEs from the Magdalena programme. The transaction was priced wider compared to the last capital relief trade from the programme. The trade features a €223.5m t...

  • The Structured Credit Interview

    • CMBS

      • Adapting to change

        Adam Zausmer, chief credit officer at Ready Capital, answers SCI's questions

        Q: Ready Capital and Starz Real Estate recently formed a joint venture to originate around €300m of new commercial real estate loans over the next two years (SCI 21 July). What prompted the move? What is currently exciting to you in European...

  • Market Moves

    • Structured Finance

      • Early redemption for Spanish synthetic

        Sector developments and company hires

        Early redemption for Spanish synthetic Clifford Chance has advised Santander Consumer Finance regarding the early redemption of bonds issued by Santander Consumer Spain Synthetic Auto 2018-1 and the settlement process. This transaction included obt...

      • BlackRock preps CLO ETF

        Sector developments and company hires

        BlackRock preps CLO ETF In a recent filing with the US SEC, BlackRock has disclosed that it is prepping a CLO ETF, dubbed BlackRock AAA CLO ETF. The fund seeks to provide capital preservation and current income by investing in a portfolio of predom...

      • M&G finances tech rental firm Grover via ABS deal

        Sector developments and company hires

        M&G has announced entry into a funding deal with the consumer-tech subscription platform, Grover. Proceeds from the €270m ABS transaction will be used to grow Grover’s product inventory and expand its presence across Europe...


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