Weekly Issue Archive »

Issue 940 - 21st February

  • News Analysis

    • Asset-Backed Finance

      • Turning tides in shipping securitisation

        New shipping securitisation methodology to unlock investment-grade ratings

        A new ratings methodology from ARC Ratings could turn the tide on shipping securitisation, as it seeks to improve credit ratings within shipping finance.  Once a sector considered too volatile for investment-grade classification, shipping...

      • Balance sheet expansion eyed

        ABF commoditisation set to boost sector adoption

        Regulatory clarity will be a major theme this year as banks adapt to new capital rules under Basel 4. Investors are closely watching whether banks expand their balance sheets or shift assets into the non-bank sector, particularly in the asset-backed...

    • ABS

      • European and UK ABS: strong start, mixed views

        January saw €8.1bn in ABS issuance, with strong demand, tightening spreads, but diverging mana...

        The European ABS market has delivered a dynamic start to the year, with strong issuance activity and robust investor demand, according to monthly European and UK factsheets monitored by SCI. TwentyFour AM Momentum Bond Fund’s managers not...

  • SRT Market Update

    • Capital Relief Trades

      • Record breakers

        New Q1 record issuance in sight

        This quarter is set to make new records for Q1 in the global SRT market with an estimated US$5bn of total issuance, say market sources. Nor is this a flash in the pan. The second quarter is generally busier, so next quarter could see even more volu...

  • News

    • Structured Finance

      • Scope of ESMA consultation questioned

        Private securitisation disclosure proposal 'puzzling'

        ESMA last week launched a consultation on revising the disclosure framework for private securitisations under the Securitisation Regulation (SECR), proposing a simplified reporting template designed to improve proportionality in information-sharing p...

    • Asset-Backed Finance

      • Neuberger Berman closes US$1.6bn ABF fund

        Firm exceeds expectations as demand for asset-based finance grows

        Neuberger Berman has held a US$1.6bn final close for Speciality Finance Fund III, signalling strong institutional demand for asset-backed finance strategies. Surpassing its initial US$1bn target, the fund marks a key milestone in the firm’s...

    • Capital Relief Trades

      • Latest SRTx fixings released

        A breather

        While January traditionally sees benchmark deals from established issuers price – reportedly 100+bps tighter year-on-year – this month’s SRTx fixings and projections suggest that spreads are taking a “breather&...

      • Bank comeback

        US Bank and BoA to close Q1 reg cap trades

        Two US bank issuers – US Bank and Bank of America – are poised to close reg cap trades before the end of the quarter, say market sources. The first of these will close a transaction referencing a US$5bn portfolio of corporate lo...

    • CLOs

      • Wellington Management closes debut CLO fund on US$194m

        CLO Partners Fund exceeds US$150m target to invest in BSL CLO equity tranches

        Investment management firm Wellington Management has closed its inaugural Wellington CLO Partners Fund I, raising US$194m in capital commitments, including US$27m from affiliates.  The vehicle focuses on majority equity tranches of Welling...

  • Market Moves

    • Structured Finance

      • Job swaps weekly: Reckoner launches with backing from RedBird

        People moves and key promotions in securitisation

        This week’s roundup of securitisation job swaps sees the launch of Reckoner Capital Management, an alternative credit asset manager led by a former Panagram Structured Asset Management ceo and cio. Elsewhere, a former Goldman Sachs partner...

    • Capital Relief Trades

      • SRT fast-track testing underway

        Market updates and sector developments

        The ECB is set to begin testing a new fast-track process for the supervisory assessment of SRT, which it has developed in close dialogue with the European Banking Federation. The SRT assessment of an individual securitisation transaction currently ta...


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