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Issue 839 - 7th April

  • News Analysis

    • RMBS
      • Securitising shared ownership

        RMBS plugging gap left by end of Help to Buy scheme

        Growth in the UK shared ownership housing sector is fuelling a spike in interest in new RMBS products, as the government-backed Help to Buy equity loan scheme draws to a close. The final deadline for the government scheme – intended to faci...

  • News

    • Structured Finance
      • SCI Start the Week - 3 April

        A review of SCI's latest content

        Last week's news and analysis Credit protection continues UBS takeover leaves Elvetia notes unaffected Fair winds CRT issuance hits all-time record IBRD prints largest-ever cat bond Unique transaction provides earthquake coverage for Chil...

    • Capital Relief Trades
      • Risk transfer round up-3 April

        CRT sector developments and deal news

        Deutsche Bank is believed to be readying a synthetic securitisation of corporate loans from the CRAFT programme that is expected to close in 2Q23. The last CRAFT transaction closed last year (see SCI’s capital relief trades database). Deuts...

      • Magnetar mooted

        Illinois-based investor denies buying Merchants Bank SRT

        Magnetar Capital, an Illinois-based asset manager, has denied strong rumours that it was the buyer of the SRT from Merchants Bank of Indiana, reported last Friday. Well-placed market sources had suggested that it had been the investor, but Magnetar...

      • Corporate CRT launched

        MUFG opts for static pool in new CRT

        MUFG Bank has executed a five-year synthetic securitisation that references a static US$1.7bn portfolio of US, European and Asian corporate loans. Dubbed Monolith three, the transaction differs from last year’s Monolith two given the shift...

      • Latest SRTx fixings released

        Index values reflect recent banking volatility

        The latest fixings for the SRTx (Significant Risk Transfer Index) have been released. The most significant change in the index values since March’s fixings (SCI 3 March) is that – perhaps unsurprisingly, given recent volatility in...

      • German SRT debuts

        OLB executes first synthetic securitisation

        OLB has executed a synthetic securitisation of corporate loans. The transaction is the German bank’s first synthetic risk transfer trade and is riding a wave of capital relief trades from the German Landesbanken. According to market sourc...

    • CLOs
      • Libor laggards

        Most US CLOs yet to transition from Libor with less than 90 days to go

        Only 19% of US CLOs rated by S&P have transitioned to SOFR, leaving less than three months for the remainder to do so before the deadline of June 30, according to a report by the rating agency this week. While it’s not impossible...

  • Market Moves

    • Structured Finance
      • UCI's sustainable finance strategy supported

        Sector developments and company hires

        UCI’s sustainable finance strategy supportedThe EIB Group and Instituto de Crédito Oficial (ICO) have disclosed their participation in UCI’s recent RMBS Green Prado XI, which was partially preplaced last month (see SCI&...

      • Strategic partnership to boost CLO platform

        Sector developments and company hires

        Strategic partnership to boost CLO platformTCW has entered into a strategic partnership with Lakemore Partners, with the aim of supporting the growth of TCW’s CLO platform. Lakemore primarily invests in super-majority control CLO equity. ...

      • AssuredIM, Sound Point create CLO powerhouse

        Sector developments and company hires

        AssuredIM, Sound Point create CLO powerhouseAssured Guaranty has announced an agreement with Sound Point Capital Management, pursuant to which Assured Guaranty will contribute its entire equity interest in Assured Investment Management and - with cer...

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