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Issue 842 - 28th April

  • News Analysis

    • Structured Finance
      • Waiting game?

        Short-term pain could spell long-term gain for Indian ABS

        Indian securitisation volumes are climbing back up towards pre-pandemic levels, as the burgeoning middle class fuels growth in consumer loans. Despite short-term concerns surrounding the impact on issuance levels of the upcoming HDFC and HDFC Bank me...

    • Capital Relief Trades
      • The iceman cometh?

        Signs of a thaw emerging in US CRT

        The recent Merchants Bank of Indiana deal could herald a thaw in the US capital relief trades market, as this Premium Content article outlines. While the European significant risk transfer market has enjoyed two successive record-breaking years of...

  • News

    • ABS
      • SCI ESG Securitisation Awards: ESG Securitisation of the Year

        Winner: Fortuna Consumer Loan ABS 2022-1

        The second social bond offering from German lender auxmoney has won SCI’s ESG Securitisation of the Year Award. Dubbed Fortuna Consumer Loan ABS 2022-1, the €225m true sale securitisation of a static pool of unsecured consumer loan...

      • SCI ESG Securitisation Awards: ESG Innovation of the Year

        Winner: Intesa Sanpaolo

        Intesa Sanpaolo has won the Innovation of the Year category in SCI’s ESG Securitisation Awards. The Italian lender stood out for its proprietary ESG scoring, which is embedded in important decision-making processes of the bank, including si...

    • Structured Finance
      • SCI Start the Week - 24 April

        A review of SCI's latest content

        ESG seminar tomorrow SCI’s 2nd Annual ESG Securitisation Seminar is taking place tomorrow, 25 April, at the offices of Clifford Chance in London. Last week's news and analysis Canadian boost BNP Paribas said to be arranging another C...

      • SCI ESG Securitisation Awards: ESG Investor of the Year

        Winner: M&G Investments

        M&G has won the Investor of the Year category in SCI’s inaugural ESG Securitisation Awards, following a year in which its dedication to engagement, fair and accurate ESG assessment of ABS deals and carbon emission modelling was evid...

      • SCI ESG Securitisation Awards: ESG Arranger of the Year

        Winner: Tramontana Asset Management

        There are a lot of things that the ESG market needs to prosper and make a difference, but the most pressing of these is capital. For its contribution to bringing new capital to this market through technical expertise and new products, Tramontana Asse...

      • SCI ESG Securitisation Awards: ESG Law Firm of the Year

        Winner: Paul Hastings

        The winner of SCI’s ESG Law Firm of the Year Award is Paul Hastings, for its deep expertise in the ESG field and its pioneering work to incorporate ESG factors into securitisation transactions. Paul Hastings has worked over the years with...

      • SCI ESG Securitisation Awards: ESG Service Provider of the Year

        Winner: European DataWarehouse

        European DataWarehouse (EDW) has won the Service Provider of the Year category in SCI’s inaugural ESG Securitisation Awards. The company has garnered industry acclaim for its involvement in a number of recent ESG initiatives, including the...

    • Capital Relief Trades
      • Portuguese SRT launched

        Santander executes synthetic RMBS

        Santander has finalized a synthetic securitisation that references a portfolio of Portuguese mortgages. The transaction is riding a pick-up in synthetic RMBS issuance as more EU bank loans migrate to stage two status. According to market sources, t...

    • CLOs
      • SCI In Conversation podcast: Seth Painter, Antares Capital

        We discuss the hottest topics in securitisation today...

        In this episode of the SCI In Conversation podcast, Seth Painter, head of structured products at Antares Capital in New York, discusses the development the CLO middle market space and its importance to the funding of the direct lending busin...

      • Looking for opportunities

        IMN US CLOs and leveraged loans conference recap

        Opportunities in a deteriorating macro environment were a strong focus of Information Management Network’s 12th Annual Investors Conference on CLOs & Leveraged Loans in New York, on 17 and 18 April. This is a credit pickers&rs...

      • SCI ESG Securitisation Awards: ESG CLO Manager of the Year

        Winner: Fidelity International

        Environmental, social and governance (ESG) concerns are increasingly coming into focus in the CLO market, driven by growing investor demand. Fidelity International is SCI’s ESG CLO Manager of the Year in light of its dedication to the topic...

    • RMBS
      • SCI ESG Securitisation Awards: ESG Issuer of the Year

        Winner: Obvion

        With a well-established but ever-evolving approach, combined with a strategy that not only encompasses new deal issuance but also the advancing of sustainability of all its customers, Obvion is SCI’s ESG Securitisation Issuer of the Year. T...

  • Talking Point

    • Structured Finance
      • Don't compare

        Collaboration key to ESG progress

        Comparison may be the thief of all ESG-joy for the securitisation market, as attendees at SCI’s 2nd Annual ESG Securitisation Seminar this week reflected on how far the industry has come since the inaugural ESG issuance seven years ago. Dif...

  • Market Moves

    • Structured Finance
      • ACC ratings on watch downgrade

        Sector developments and company hires

        ACC ratings on watch downgradeKBRA has revised five ACC watch developing placements to watch downgrade, following notification by Wilmington Trust - the trustee for three American Car Center (ACC) Trust securitisations - that collections for payment...

      • SES RTS a 'sensible result'

        Sector developments and company hires

        SES RTS a ‘sensible result’The EBA has published its final draft RTS specifying the determination by originator institutions of the exposure value of synthetic excess spread (SES). These draft RTS clarify the calculation of the co...

      • Aegon AM buys CLOs, inks partnership

        Sector developments and company hires

        Aegon AM buys CLOs, inks partnershipNIBC is set to sell its European CLO management activities to Aegon Asset Management, further accelerating its strategy to streamline its business model and focus on asset-backed financing. The sale comprises NIBC'...

      • LendInvest expands financing syndicate

        Sector developments and company hires

        LendInvest expands financing syndicateWells Fargo has joined LendInvest’s £200m financing syndicate with NAB to support the continued growth of the lender’s buy-to-let proposition. Wells Fargo joins a growing roster of g...

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