Weekly Issue Archive »

Issue 920 - 20th September

  • News Analysis

    • Structured Finance

      • Breaking regulatory chains

        Calls for reform intensify as industry pushes to fuel growth and fund Europe's green transition

        The European securitisation market is “far too small and illiquid,” according to a recent report from True Sale International (TSI) and the Association of German Banks (BdB). The scale of the challenges could be having a negative...

    • CLOs

      • In demand

        ETF CLO growth gathers pace as firms ramp up offerings

        Demand for floating rate assets with robust surplus yield outlook is driving ETF (exchange-traded fund) CLO growth, according to asset manager Janus Henderson, with firms ramping up their offerings. In July, Janus Henderson B-BBB CLO ETF (JBBB) sur...

    • Asset-Backed Finance

      • Renewables prioritised

        Coventry's PACE, solar efforts gain momentum

        Coventry Structured Investments, a Los Angeles-based asset management firm specialising in niche debt and equity solutions, is set to purchase up to US$600m in residential solar loans under a forward-flow agreement with Almika Renewable Finance. The...

  • SRT Market Update

    • Capital Relief Trades

      • Coming up next...

        SRT market update

        As the SRT market heats up for a busy year end, SCI hears that UK banks, NatWest and Lloyds, are preparing trades. A NatWest corporate trade is reportedly in the market, with the bank also preparing another project finance infrastructure trade from...

      • How low can you go?

        SRT market update

        Morgan Stanley’s latest CRT transaction referencing subscription lines is reportedly about to price even tighter than originally thought. The spread is now thought to be in the low to mid 400s. As reported previously it’s a fund...

  • News

    • ABS

      • Records to fall

        European and Australian ABS markets approach post-crisis issuance records amidst autumn surge

        Primary markets in Europe and Australia are showing significant momentum as we head into autumn. According to research strategists at JPMorgan, YTD issuance totals in both regions are nearing post-crisis records. Europe’s YTD issuance sta...

      • Resilience amidst volatility

        European and UK ABS and MBS markets displayed resilience in August, despite widespread volatility.

        The European and UK ABS and MBS markets in August demonstrated resilience in the face of volatility, according to monthly European and UK factsheets monitored by SCI. August saw widespread volatility, which notably affected both primary and seconda...

    • Asset-Backed Finance

      • Set for take-off?

        Increased volumes, improving fundamentals boost aircraft ABS

        A handful of US aircraft ABS worth US$2.87bn have priced so far this month, taking the total number of deals printed this year to eight. With improving fundamentals post-pandemic, the sector stands out when compared to railcar and container ABS. In...

    • Capital Relief Trades

      • Latest SRTx fixings released

        SRT market sentiment re-adjusts after financial markets experienced significant volatility.

        The latest fixings for the SRTx (Significant Risk Transfer Index) have been released. If August got off to an rough start (The S&P 500 lost more than 6% in the early days of August, erasing nearly US$3tn in market value), as fears mounted abo...

  • The Structured Credit Interview

    • Capital Relief Trades

      • Soar like an Eagle

        Eagle Point makes mark in SRT

          Eagle Point Credit, based in Greenwich, Connecticut, is not, perhaps, a veteran of SRT investment but it’s also got more road under the tyres than some of the more recent, big name, arrivals in the market. The firm, which des...

    • CLO Managers

      • CLO manager corner: Sculptor Capital Management

        Adeel Shafiqullah, head of European CLO management, discusses launch of manager's new captive CLO eq...

        The launch of Sculptor Capital Management’s captive CLO equity platform in April, secured by an anchor commitment from Rithm Capital Corp., is a “strong validation” of the firm's support of Sculptor’s ...

  • Market Moves

    • Structured Finance

      • Job swaps weekly: EIF exclusive

        People moves and key promotions in securitisation

        This week’s roundup of securitisation job swaps sees SCI exclusively reveal that the European Investment Fund’s chief investment officer is retiring from his role after almost three decades with the fund. Elsewhere, Performance Tr...

    • Capital Relief Trades

      • New CAS

        Market moves and sector developments

        Fannie Mae has priced a US$708m CAS deal, its sixth of the year, via joint bookrunners Bank of America and Cantor Fitzgerald. The trade, designated CAS 2024 R06, consists of four tranches, including an A+/A+ rated US$212.5m A1 tranche priced to yie...


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