Weekly Issue Archive »

  • News Analysis

  • Capital Relief Trades

    • Compromise pending

      Parliament softens stance on 'problematic' proposals

      The European Parliament will likely drop proposals for the exclusion of time calls and pro-rata amortisation from STS synthetic securitisations (SCI 6 October). The Parliament’s amendments were announced last week in response to the Europea...

  • News

  • Structured Finance

    • SCI Start the Week - 12 October

      A review of securitisation activity over the past seven days

      Last week's stories Absolute attraction Absolute 2021-1 shows growth of US CRT market and pass-through appetite Capital preservation Kartesia answers SCI's questions Comeback king Container ABS weathers the storm Direct access For-pro...

    • Movie magic

      Rare securitization of film library future revenues finds buyers

      The $421.5m three-tranche securitization of film distribution revenue by Vine 2020-1, currently in pre-sale, will close on 29 October, according to analysts at Morningstar DBRS. There are four listed co-issuers, all of which are units of Village Ro...

  • Capital Relief Trades

    • SME CRT completed

      Intesa finalises mezz guarantee

      Intesa Sanpaolo, the EIF and the EIB have completed a €90m mezzanine guarantee that references a €1.8bn static Italian SME portfolio. Dubbed GARC SME 9, the capital relief trade will enable the bank to provide €450m of loan...

    • Made in the USA

      Speakers at SCI conference herald dawn of new era for US CRT

      "Every year I join these conferences and I say 'This is the year of the USA,' and I'm always made a liar because I'm still waiting for it, but this year we'll see real uptick in activity in the US and...

    • Risk transfer round-up - 12 October

      CRT sector developments and deal news

      Barclays is rumoured to be prepping a corporate capital relief trade that is set to close in 4Q20. The lender finalised its last corporate CRT from the Colonnade programme in June (see SCI’s capital relief trades database). ...

  • Market moves

  • Structured Finance

    • MPL platform ends note programme

      Sector developments and company hires

      MPL platform ends note programme LendingClub is winding down its retail note programme and has ceased accepting new accounts. The platform says it is no longer ‘economically practical’ to continue offering notes as it moves tow...

    • First EGF guarantee inked

      Sector developments and company hires

      First EGF guarantee inked The EIB has approved €5.1bn of new financing to support investment by companies most impacted by Covid-19, alongside backing clean energy, water, sustainable transport and urban development. This includes up to &am...

  • CLOs

    • Collateralised loan overlap

      Sector developments and company hires

      Collateralised loan overlap Diversification risk across the US CLO market has increased this year, due to the 18% decline in US leveraged loan net supply over 2019 versus 79 different managers issuing deals in 2020. Consequently, JPMorgan CLO rese...

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