Weekly Issue Archive »

Issue 831 - 10th February

  • News Analysis

    • ABS

      • Going green?

        ESG priorities shifting to meet macroeconomic pressures

        Inclusion of lower-income borrowers in US environmentally-linked ABS pools could increase this year, as lenders adapt to the changing needs of consumers amid rising macroeconomic stress. Nevertheless, rising solar and home improvement ABS volumes may...

    • Structured Finance

      • Status quo or status go?

        Law firm designation practices questioned

        Dissatisfaction is growing among private credit funds and direct lenders regarding the common practise of law firm designation, whereby sponsor counsel can choose which counsel advises the lenders. The concern is that such a scenario could force them...

  • News

    • Structured Finance

      • SCI Start the Week - 6 February

        A review of SCI's latest content

        Last week's news and analysis Book building Obra Capital answers SCI's questions CRT expansion continues BBVA taps private market again Default boost Corporate defaults rise in 2022 Expanding east Raiffeisen grows CEE foothold Growing p...

      • QT underway

        'Slight' tightening forecast for ECB-eligible ABS

        Rabobank credit strategists predict a drop of 45.8% in ECB reinvestments across all APP sub-programmes between March and June, equating to a potentially sizeable €1.5bn in redemptions not being reinvested, as the central bank embarks on its...

    • Capital Relief Trades

      • Hedging alternatives eyed

        JPM said to be exploring alternative risk transfer structures

        JP Morgan is believed to be exploring alternative risk transfer structures given the persisting uncertainty in the US around the regulatory treatment of synthetic securitisations. However, market sources believe that the impasse is expected to be res...

      • Risk transfer round up-8 February

        CRT sector developments and deal news

        Bank of Montreal has called a synthetic securitisation called Manitoulin Muskoka series 2018-1. The transaction was executed in 2018 and references US and Canadian leveraged and corporate loans (see SCI’s capital relief trades data...

      • Risk transfer line-up finalised

        Focus on future of North American CRT

        SCI’s 7th Annual Risk Transfer & Synthetics Seminar is taking place in-person on 9 February at the offices of exclusive host Clifford Chance in New York. The event is chaired by Mayer Brown partner and structured finance practice co...

      • Canadian wave begins

        TD unlocks Canadian CRT market

        Toronto Dominion is expected to close a synthetic securitisation of corporate loans this month, becoming the first Canadian bank after Bank of Montreal to execute a synthetic securitisation. The lender is riding a wave of Canadian CRT issuance as Can...

    • CMBS

      • Extension risk eyed

        Brookfield control would be 'positive' for ELoC 39

        High extension risk but low default risk is forecast for German multifamily CMBS Haus (European Loan Conduit No. 39). In its latest European Securitisation Weekly publication, BofA Global Research suggests that the transaction is behind its business...

  • Market Moves

    • Structured Finance

      • Alternatives combination agreed

        Sector developments and company hires

        Alternatives combination agreedFS Investments and Portfolio Advisors have entered into a definitive agreement to combine their firms. The move is set to see a joint growth in excess of their combined US$73bn in assets under management and a significa...

      • Survey shows rise in ESG disclosure, investing activity

        Sector developments and company hires

        Survey shows rise in ESG disclosure, investing activityESG disclosure and investing activity within structured finance grew by 15% over the last two years, according to the SFA’s 2nd Biennial ESG Market Sentiment Survey: Securitisation Issu...

      • Green auto ABS debuts

        Sector developments and company hires

        Green auto ABS debutsToyota Financial Services Italy is in the market with Koromo Italy, an Italian STS auto ABS backed by a €412.4m portfolio fully comprising new hybrid, plug-in and electric vehicles (SCI ABS Markets Deal Alert - 7 Februar...

      • SPG spin-out rebranded as ATLAS

        Sector developments and company hires

        SPG spin-out rebranded as ATLASApollo and Credit Suisse have completed a substantial first close of their previously announced transaction, under which affiliates of the former purchased a significant portion of the latter’s securitised pro...

      • MK&C acquisition prompts CS carveout

        Sector developments and company hires

        MK&C acquisition prompts CS carveoutCredit Suisse has progressed the carveout of CS First Boston as a distinct capital markets and advisory-led business (SCI 28 October 2022) through the acquisition of The Klein Group (MK&C), for a pu...


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