Issue 950 - 2nd May
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News Analysis
- CLOs
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EU CLO double-A bonds trade actively while US CLO equity market cools
Poh-Heng Tan from CLO Research provides CLO BWIC highlights: Wide EU CLO double-A cover range, doubl...
Last Thursday (24 April 2025) saw 27 tranches of EU CLO double-A bonds, with a total notional of €61.5 million, traded via BWIC. The table below provides colour on some of the double-A bonds with top-tier prints. Based on these cove...
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- Capital Relief Trades
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SCI webinar: Nordics seize opportunities
SCI webinar highlights SRT openings in Nordic region
Nordic banks are showing increased interest in the SRT market, and growing issuance will likely follow regulatory alignment, according to speakers at this month’s SCI’s Seizing Nordic Opportunities webinar. They emphasi...
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- Risk Management
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Are mid-tier bank loans as good as they appear?
Fed filings indicate only a small drop in loan performance
According to recent Fed filings, the “pass percentage” of loans and commercial loans held at 79 mid-tier banks declined by only a little over 1% from 3Q 2019 to 3Q 2024 - a performance which could strike some in the mark...
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- Asset-Backed Finance
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Esoteric ABS at crossroads: tariffs, technology, and tailwinds
Digital infra defies macro downturn while consumer-linked sectors and music royalty ABS face recalib...
The esoteric ABS market is entering a pivotal phase as macro shocks and shifting trade dynamics recalibrate investor risk appetites. Participants in a recent SCI webinar on the future of esoteric ABS highlight that while trade tensions, inflation, an...
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- ABS
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Funding Circle deepens ABS market presence
London-based originator returns to the securitisation market with SBOLT 2025-1, reinforcing its comm...
Funding Circle has returned to the securitisation market with SBOLT 2025-1, continuing its strategy of connecting institutional investors with the UK's smallest businesses. The transaction highlights the lender’s commitment to helping fund...
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- CLOs
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European structured finance sees strongest Q1 since GFC, driven by record CLOs
Momentum from late 2024 carries into Q1, led by CLOs and SME deals amid steady investor demand
European securitisation markets began 2025 with robust momentum, according to Morningstar DBRS’s latest quarterly outlook, underpinned by record-breaking issuance volumes and significant growth in the CLO segment. Total securitisation issua...
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- Capital Relief Trades
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Third Coast is on the CRT map
US5bn Texas lender explains the deal with EJF
In the third of our reports on the groundbreaking securitization between asset manager EJF and Third Coast Bank, US editor Simon Boughey talks to the issuer. Third Coast Bank had been kicking around the idea of a transaction that would both reduce...
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- CLOs
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News
- Asset-Backed Finance
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Private credit set for stricter scrutiny as market grows, survey finds
Industry leaders expect regulatory oversight to intensify across Europe within 12-18 months
Private credit markets are bracing for increased regulatory oversight, with nearly 80% of industry executives expecting tighter rules over the next 12 to 18 months, according to new research from Nordic Trustee, part of capital markets service provid...
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- Asset-Backed Finance
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Talking Point
- CLOs
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CLO market treads cautiously amid tariff uncertainty and structural shifts
Caution in healthcare, pharma and auto sectors
As global trade policy continues to evolve and tariffs dominate the economic discourse, Alter Domus, believes the impact on the CLO market remains limited for now—but could deepen over time. “While tariffs are grabbing headlines...
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- CLOs
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The Structured Credit Interview
- CLOs
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Pearl Diver Capital opens Dubai office to tap regional CLO demand
Matt Layton, partner and head of EMEA at Pearl Diver Capital, answers SCI's questions about its rece...
Q: Where did the decision to open an office in Dubai come from? Matt: Opening an office in the The Gulf Cooperation Council (GCC) region is a natural progression for our firm. Since Pearl Diver Capital was established in 2008, we have bu...
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- CLOs
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Market Moves
- Structured Finance
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Job swaps weekly: Balbec names new ceo
People moves and key promotions in securitisation
This week’s roundup of securitisation job swaps sees Balbec Capital announcing a new ceo, as incumbent Charles Rusbasan transitions to executive chair. Elsewhere, Fides Holdings has appointed a managing partner and head of structured and al...
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- Structured Finance
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