Weekly Issue Archive
News Analysis
Structured Finance
-
Breaking regulatory chains
Calls for reform intensify as industry pushes to fuel growth and fund Europe's green transition
The European securitisation market is “far too small and illiquid,” according to a recent report from True Sale International (TSI) and the Association of German Banks (BdB). The scale of the challenges could be having a negative...
-
In demand
ETF CLO growth gathers pace as firms ramp up offerings
Demand for floating rate assets with robust surplus yield outlook is driving ETF (exchange-traded fund) CLO growth, according to asset manager Janus Henderson, with firms ramping up their offerings. In July, Janus Henderson B-BBB CLO ETF (JBBB) sur...
-
Renewables prioritised
Coventry's PACE, solar efforts gain momentum
Coventry Structured Investments, a Los Angeles-based asset management firm specialising in niche debt and equity solutions, is set to purchase up to US$600m in residential solar loans under a forward-flow agreement with Almika Renewable Finance. The...
SRT Market Update
Capital Relief Trades
-
Coming up next...
SRT market update
As the SRT market heats up for a busy year end, SCI hears that UK banks, NatWest and Lloyds, are preparing trades. A NatWest corporate trade is reportedly in the market, with the bank also preparing another project finance infrastructure trade from...
-
How low can you go?
SRT market update
Morgan Stanley’s latest CRT transaction referencing subscription lines is reportedly about to price even tighter than originally thought. The spread is now thought to be in the low to mid 400s. As reported previously it’s a fund...
News
ABS
-
Records to fall
European and Australian ABS markets approach post-crisis issuance records amidst autumn surge
Primary markets in Europe and Australia are showing significant momentum as we head into autumn. According to research strategists at JPMorgan, YTD issuance totals in both regions are nearing post-crisis records. Europe’s YTD issuance sta...
-
Set for take-off?
Increased volumes, improving fundamentals boost aircraft ABS
A handful of US aircraft ABS worth US$2.87bn have priced so far this month, taking the total number of deals printed this year to eight. With improving fundamentals post-pandemic, the sector stands out when compared to railcar and container ABS. In...
-
Resilience amidst volatility
European and UK ABS and MBS markets displayed resilience in August, despite widespread volatility.
The European and UK ABS and MBS markets in August demonstrated resilience in the face of volatility, according to monthly European and UK factsheets monitored by SCI. August saw widespread volatility, which notably affected both primary and seconda...
-
Latest SRTx fixings released
SRT market sentiment re-adjusts after financial markets experienced significant volatility.
The latest fixings for the SRTx (Significant Risk Transfer Index) have been released. If August got off to an rough start (The S&P 500 lost more than 6% in the early days of August, erasing nearly US$3tn in market value), as fears mounted abo...
The Structured Credit Interview
Capital Relief Trades
-
Soar like an Eagle
Eagle Point makes mark in SRT
Eagle Point Credit, based in Greenwich, Connecticut, is not, perhaps, a veteran of SRT investment but it’s also got more road under the tyres than some of the more recent, big name, arrivals in the market. The firm, which des...
-
CLO manager corner: Sculptor Capital Management
Adeel Shafiqullah, head of European CLO management, discusses launch of manager's new captive CLO eq...
The launch of Sculptor Capital Management’s captive CLO equity platform in April, secured by an anchor commitment from Rithm Capital Corp., is a “strong validation” of the firm's support of Sculptor’s ...
Market Moves
Structured Finance
-
Job swaps weekly: EIF exclusive
People moves and key promotions in securitisation
This week’s roundup of securitisation job swaps sees SCI exclusively reveal that the European Investment Fund’s chief investment officer is retiring from his role after almost three decades with the fund. Elsewhere, Performance Tr...
-
New CAS
Market moves and sector developments
Fannie Mae has priced a US$708m CAS deal, its sixth of the year, via joint bookrunners Bank of America and Cantor Fitzgerald. The trade, designated CAS 2024 R06, consists of four tranches, including an A+/A+ rated US$212.5m A1 tranche priced to yie...