ABS

  • Bulgarian bank seals second EIB-backed SRT

    SRT market update

    Allianz Bank Bulgaria has completed its second synthetic securitisation with EIB Group, freeing up capacity to support approximately €340m of new lending to Bulgarian SMEs and mid-caps over the next three years.

    The transaction references a €252m portfolio of SME and consumer loans and is designed to optimise the bank’s capital position while expanding financing to the real .......

    SRT Market Update 5 June 2026

  • Job swaps weekly: Avellinia appoints chief credit officer, while Davidson Kempner launches European CLO arm

    People moves and key promotions in securitisation

    This week’s roundup of securitisation job swaps sees Davidson Kempner become the latest firm to launch a European CLO arm. Meanwhile, Avellinia has appointed a chief credit officer, and Sidley has elected 52 lawyers to its partnership.

    Katten Muchin Rosenman UK has recruited two partners in London from Crowell & Moring to launch a structured products and derivatives .......

    Market Moves 5 June 2026

  • Securitised credit stays firm as issuance runs ahead of record pace

    ABS issuance hits 2026 high as strong technicals support spr...

    Securitised credit markets remain positive heading into June, with issuance running above last year’s record pace and spreads sitting at or close to the tight end of recent ranges, according to JPMorgan. 

    The strongest momentum is in ABS, where May supply reached $36.6bn, the highest monthly total of 2026 so far and ahead of the $32.4bn priced in May 2025. Year-to-date ABS .......

    News 5 June 2026

  • KBRA sees path for European fibre assets to tap ABS market

    Rating agency says mature fibre networks with recurring reve...

    European fibre infrastructure assets could increasingly turn to securitisation as a refinancing tool once they move beyond construction and begin generating stable operating revenues, according to a new report from KBRA.

    "European fibre ABS is most likely to emerge as a refinancing tool for operating assets that have moved beyond the build-out phase and are generating recurring cashflows," .......

    News 5 June 2026

  • ABS: Stronger orderbooks drive sharper spread compression in 1Q 2026

    ABS spread tightening became more coverage-sensitive in 1Q 2...

    The ABS market showed stronger spread compression and more responsive bookbuilding over the first quarter of 2026, according to SCI data. 

    Comparing the data with 1Q 2025, three main differences stand out. Firstly, the coverage-to-tightening curve steepened, suggesting that a given level of orderbook coverage translated into greater IPT-to-guidance movement in 2026. Secondly, median tightening was generally higher across .......

    News Analysis 3 June 2026

  • European securitisation benchmarks launched

    SCIx to provide sector and ratings reference points

    SCI has launched a family of indices covering the European ABS, CLO and RMBS markets – the SCI Composites Index (SCIx). Utilising SCI’s primary market database and the services of calculation agent MYcx, SCIx provides SCI subscribers with reference points across sectors and rating bands.

    The latest Index release – as at end-May 2026 – shows disparate levels .......

    News 2 June 2026

  • Esoteric ABS: Avenues and cul de sacs of data centre financing - video

    Milbank's Patrick Campbell speaks to SCI about data centre financing

    .......

    News Analysis 29 May 2026

  • Job swaps weekly: Seward & Kissel names new head of structured credit

    People moves and key promotions in securitisation

    This week’s roundup of securitisation job swaps sees Seward & Kissel appointing a New-York-based partner and head of structured credit. Elsewhere, a C-suite Arini executive has left the business after three years, while Hoplon Capital subsidiary Vistina has appointed a senior md and head of ratings advisory.

    Seward & Kissel has appointed Taha Khan as partner and head .......

    Market Moves 29 May 2026

  • IQ-EQ completes Zenith acquisition expanding Italian structured finance presence

    Acquisition gives IQ-EQ its first foothold in Italy as the f...

    IQ-EQ yesterday completed its acquisition of Italian securitisation and structured finance specialist Zenith Global, following regulatory approval from the Bank of Italy and the Italian government’s foreign direct investment review board. The transaction gives IQ-EQ its first operational presence in Italy and further expands the firm’s structured finance and capital markets capabilities across Europe.

    Zenith employs more .......

    News 28 May 2026

  • EU ABS market slows but pricing remains firm amid selective investor demand

    Santander and Beequip transactions attract strong orders des...

    Primary European ABS activity slowed this week following a busy prior pipeline, but the market still delivered strong pricing and signs of selective demand particularly where supply was limited. Santander Consumer Germany’s newest consumer ABS, SC Germany Consumer 2026-1, priced on Wednesday with the senior notes at 67bp and a covered of 2.2x after the deal was upsized to .......

    News 27 May 2026

  • Morningstar DBRS backs FCA securitisation reforms but flags disclosure risks

    Morningstar DBRS warns that while the FCA's proposed securit...

    The FCA’s proposed overhaul of UK securitisation reporting could improve efficiency in the auto ABS market but could also reduce transparency for more complex or niche transactions, according to Morningstar DBRS.

    The rating agency says it “broadly welcomes transparency and standardisation initiatives” designed to enhance credit analysis of the UK securitisation market, following the FCA’s February 2026 Consultation .......

    News 20 May 2026

  • Job swaps weekly: NorthWall lands major CLO hire from Permira Credit

    People moves and key promotions in structured credit

    This week’s roundup of structured credit job swaps sees alternative credit specialist NorthWall Capital make a significant CLO market hire with the appointment of Andrew Lawson from Permira Credit. Elsewhere, Natixis CIB has announced a series of senior leadership changes across its credit markets business, while Hayfin, Mizuho and Sona Asset Management have all strengthened their private credit and .......

    Market Moves 15 May 2026

  • SRT fast track gaining traction

    Call for banks to contribute to 'simplification agenda'

    Only two SRT transactions were submitted to the ECB via its new ‘fast track’ procedure during the first four months of 2026, the central bank has revealed in its latest supervisory newsletter. The ECB says it completed its assessment of both transactions in just eight working days, whereas the previous process typically took several months.

    The ECB launched .......

    News 13 May 2026

  • Commerzbank eyes new asset classes for SRT programme

    German lender's new 'Momentum' strategy targets revealed

    Commerzbank is gearing up to use SRTs beyond traditional corporate loan portfolios, as the lender looks to reach long-term profitability targets outlined in its newly updated ‘Momentum’ strategy.

    In a strategic update published earlier this month, the lender said it plans to “increase capital efficiency by extending SRT to further client portfolios and asset classes”, marking one of .......

    News 13 May 2026

  • Chinese EV expansion seen as gradual shift in Europe, not auto ABS disruption

    Morningstar says underwriting quality and residual value management matter more than vehicle origin

    Chinese electric vehicle manufacturers are becoming increasingly visible across Europe, but according to Morningstar’s latest ‘Securitisation Insights’ podcast, the impact on auto ABS remains more evolutionary than disruptive.

    The discussion focused on whether the rapid growth of Chinese EV brands changes the risk profile of the car loans and leases packaged into European ABS transactions. While concerns .......

    Talking Point 13 May 2026

  • Iberian SRT market 'no longer niche'

    Access to granular historical data remains critical

    Iberian industry participants at SCI’s SRT Roadshow in Madrid last week agreed that risk transfer is “by no means a niche asset class anymore”, as a wider range of issuers and investors enter the market. Discussions during the event highlighted how preparation, execution and market longevity for programmatic issuers remains a delicate balance between regulation, data quality and investor .......

    News 12 May 2026

  • EU structured credit remains firm despite geopolitical strain

    ABS and CLO markets remain supported by strong demand and resilient collateral performance

    European structured credit markets continue to show resilience despite geopolitical uncertainty, with investors remaining active in ABS and CLOs despite broader macro risks and higher energy costs feeding into credit markets.

    Speaking to SCI , a market source says structured credit is reacting more slowly than other asset classes to recent market developments. “Rates markets react quickly and .......

    News 12 May 2026

  • SCI In Focus: Morocco quietly emerges as Africa's synthetic securitisation pioneer

    Morocco is gradually building one of Africa's most advanced...

    Morocco is emerging as one of the few jurisdictions in Africa actively developing a synthetic securitisation market, with a small but growing pipeline of privately placed transactions signalling the gradual expansion of domestic risk-transfer capabilities.

    While the market remains nascent, participants note that Morocco has moved further than most African jurisdictions in translating synthetic securitisation from a legal concept .......

    News Analysis 11 May 2026

  • Job swaps weekly: Lazard to acquire Campbell Lutyens

    People moves and key promotions in securitisation

    This week’s roundup of securitisation job swaps sees Lazard striking a deal to acquire private markets advisor Campbell Lutyens, with each entity contributing a co-ceo to the resulting and newly renamed subsidiary, Lazard CL. Elsewhere, Gemcorp Capital has hired an Oaktree exec with expertise in real estate, infrastructure and asset-backed finance to accelerate its expansion into private credit, while .......

    Market Moves 8 May 2026

  • British Business Bank eyes broader role in UK SME ABS after Propel debut

    Government-backed economic development bank aims to familiar...

    The British Business Bank’s first investment in a public cash ABS transaction is part of a deliberate strategy to deepen the UK SME securitisation market, encourage new issuers and broaden investor participation.

    The bank participated in Propel Finance’s debut public ABS earlier this year, marking its first investment in a public cash securitisation after years of involvement in synthetic structures.

    Michael Strevens, .......

    News Analysis 6 May 2026

  • Nordic SRT growth capped by structural constraints

    SCI's European SRT Roadshow in Oslo made clear the Nordic SRT market is maturing, but contained

    At SCI’s inaugural European SRT Roadshow event in Oslo last week, the message was consistent across panels: the Nordic SRT market is no longer nascent, but remains structurally constrained. Growth is happening quietly but decisively, yet scaling will depend less on investor demand and more on regulatory clarity, portfolio construction and issuer readiness.

    Investor appetite is strong, capital .......

    News Analysis 6 May 2026
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