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Issue 993 - 6th March

  • News Analysis

    • Asset-Backed Finance
      • Data centres, energy security and the rise of hybrid finance

        ABF and project finance merging to fund next wave of infrastructure

        Project finance is at an inflexion point in 2026, according to the latest project finance report issued by business administration and compliance advisory firm CSC. A defining feature of this moment is the growing convergence of traditional project f...

    • ABS
      • January European ABS sees strong technicals and carry-led performance

        Resilient demand, tightening spreads and robust carry underpin a strong start to 2026 for European A...

        The European ABS market opened 2026 against a backdrop of geopolitical tension, yet January delivered stable technicals, consistent spread tightening and positive performance across portfolios. According to, TwentyFour Asset Management ABS issuance...

    • Asset-Backed Finance
      • Eyeing the Canadian ABF opportunity set

        Ryan Dunfield, ceo at SAF Group, answers SCI's questions

        SAF Group is preparing to launch its debut ABF fund, as reported by SCI earlier this month, targeting up to US$600m. The firm's ceo, Ryan Dunfield, speaks to SCI about the new strategy and how the firm is looking to market it. Q: You curre...

    • Structured Finance
      • CLO and ABS trends from SFVegas

        Panellists discuss the CLO & ABS market at the annual SFVegas conference attended by SCI between...

        In discussions held on the CLO market at SFVegas, one theme panellists agreed on is that liability costs and continued supply are compressing pricing. In an increasingly crowded market, the arb is increasingly tight for managers and the space is beco...


  • SRT Market Update

    • Capital Relief Trades
      • Full-stack backing for Baltic ambition

        SRT market update

        Bigbank’s first synthetic securitisation with the European Investment Bank Group (EIBG) became effective this week, marking a capital relief transaction backed by a reference portfolio exceeding €210m and reinforcing the Baltic reg...

      • US regional seeks the wides

        Huntington sells first auto CLN of 2026

        Huntington Bank, a now regular presence in the US synthetic market, has priced its first auto loan CLN of 2026 at eye-catchingly wide spreads, note onlookers. The bookrunners for the US$409m 144a trade, designated HALCN 2026-01, were Bank of Americ...

      • Irish bank builds out SRT programme

        AIB brings deal referencing PF loans

        AIB Group has come to market with a third synthetic securitisation referencing a portfolio of project finance loans, SCI has learned. “In 2026, we plan to execute an additional transaction including project finance loans with an anticipat...

      • US lender with deal in offing

        RV loans in portfolio

        US Bank is in the market with a synthetic securitisation of a US$5bn portfolio of loans used to buy recreational vehicles (RVs) and leisure craft, according to market sources. The issuer is said to be seeking bids in the area of 700bp over SOFR for...


  • News

    • Asset-Backed Finance
      • Pollen Street facilitates €100m ABF deal with Irish lender

        SME Finance & Leasing Solutions supports core industries in Irish economy

        Pollen Street Capital has closed a €100m ABF deal with non-bank Irish lender SME Finance & Leasing Solutions. The transaction has been designed to accelerate its growth in providing financing to small and medium-sized enterprises a...

      • ABF Deal Digest: Marathon cuts US$615m aviation finance deal

        A weekly roundup of private asset-backed financing activity

        This week’s roundup of private ABF activity sees Marathon Asset Management close a US$615m aviation finance deal. Elsewhere, Pollen Street completed a €100m facility with Irish non-bank lender, while YouLend secured a US$225m forwa...

      • Victory Park misses target for US$2.5bn ABF fund

        Firm hits US$1bn, succumbing to a challenging fundraising environment

        Victory Park Capital has fallen short of its US$2.5bn target for its second asset-backed finance fund, SCI has learned. VPC Asset Backed Opportunistic Credit Fund II held its final close in January after raising only around US$1bn, leaving it well...

    • CLOs
      • Ares prices second European direct lending CLO

        Ares looks to establish itself in the European middle-market CLO space with its second deal in under...

        Ares Credit Funds, affiliates of Ares Management Corporation has priced its second European Direct lending CLO at over €300mn, signaling further growth for the European private credit market. Ares European Direct Lending CLO II (E...

      • Royal London AM launches second EU CLO

        Hambridge CLO II is the largest CLO issued in Europe in the last year, according to the firm

        Royal London Asset Management (RLAM) has priced its second-ever CLO in Europe, Hambridge CLO II. Worth €500mn, the second iteration in the Hambridge series is the largest European CLO in the last year and comes just five...


  • The Structured Credit Interview

    • ABS
      • Structural protections, prime mortgages and residential ABS

        Adam Rizkalla, managing director at Canyon Partners answers SCI's questions

        Q: Within residential mortgages today, where does Canyon see the highest risk-adjusted return, and how are factors like conservative underwriting and housing undersupply shaping your expectations for credit performance and prepayment risk? A: I wou...


  • Market Moves

    • Structured Finance
      • Job swaps weekly: CIFC names CLO heads and ABF run persists

        People moves and key promotions in securitisation

        This week’s roundup of securitisation job swaps sees CIFC Asset Management name its new global co-heads of CLO portfolio management. Meanwhile, DWS has hired Barbara Richter to lead its ABF business, and New York Life Investment Management...



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