Issue 899 - 26th April
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News Analysis
- Capital Relief Trades
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Opening up
LatAm SRT activity gaining traction
SRT activity in Latin America is gaining traction, with three deals now completed - including two in the last 12 months - and more on the horizon. Multilateral development banks (MDBs) are playing a crucial role in opening up the region. Edmund Par...
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- Capital Relief Trades
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SRT Market Update
- Capital Relief Trades
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Completing the project
SRT Market Update
NatWest recently closed a project finance SRT transaction. The maturity of the deal is believed to be in 10 years, while both the tranche thickness and spread are described as “what is to be expected for the asset class” - albeit...
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UK SRT prepped
SRT Market Update
Lloyd’s is understood to be prepping a UK SRT deal, which will reference a portfolio of large corporate loans. One source believes the transaction will have a tranche thickness of 7%-8%, similar to Deutsche Bank’s previous two C...
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- Capital Relief Trades
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News
- Structured Finance
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SCI Start the Week - 22 April 2024
A review of SCI's latest content
*CRT Awards 2024* The submissions period for SCI’s 2024 Capital Relief Trades Awards closes on 31 May. Apply now to secure your chance to be recognised and celebrated by the SRT industry at a gala black-tie dinner at RIBA HQ! Qualifying...
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- Capital Relief Trades
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Uncommon assets
SoFi Technologies CLN the forerunner of unusual asset CRTs
The imminent SoFi Technologies CLN securitizing student loan exposure is said to be the harbinger of a new class of CRT deals in which lenders hedge exposure to rarely seen asset pools. Although this type of transaction incorporates uncommon assets...
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Fresh mandate
Frank Benhamou joins Cheyne Capital
Cheyne Capital has announced that Frank Benhamou has joined the firm as Portfolio Manager for its Risk Transfer strategy. The announcement followed the news that the London-based firm was re-entering the SRT market, having previously been active from...
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Bridging the gap
Syndicated solution launches for portfolio insurance
As appetite for structured credit solutions continues to grow, insurance balance sheets seem increasingly well suited to meet this demand. However, this brings new challenges for investors, (re)insurers and issuers alike. One such challenge is the...
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- Structured Finance
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Market Moves
- ABS
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FFELP loan 'waivers' proposed
Market updates and sector developments
The US Department of Education last week published a notice of proposed rulemaking (NPR) in the Federal Register regarding debt relief for certain federal student loans, including certain FFELP loans held by ABS trusts. Comments on the proposals are...
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- Structured Finance
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Final FCA, PRA rules 'imminent'
Market updates and sector developments
HM Treasury has published a draft statutory instrument that outlines the next steps in the process of replacing the onshored EU legislative regime for securitisation with its own rules under the broader ‘Smarter Regulatory Framewor...
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Job swaps weekly: Cheyne Capital snaps up SRT veteran
People moves and key promotions in securitisation
This week’s roundup of securitisation job swaps sees Cheyne Capital hiring an SRT veteran who recently left their role at Barclays. Elsewhere, Wilmington Trust has made changes to its global capital markets leadership team, while a risk tra...
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ATLAS attracts MassMutual commitment
Market updates and sector developments
MassMutual has become a minority equity owner in ATLAS SP Partners and a capital partner to the ATLAS platform. As part of the multi-billion-dollar commitment, MassMutual has also agreed to invest in Apollo’s asset-backed finance (ABF) fran...
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- RMBS
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Italian mortgage disposal inked
Market updates and sector developments
Barclays Bank Ireland is set to dispose of its performing Italian mortgage portfolio via a securitisation. Funds and accounts managed by GoldenTree Asset Management have entered into a commitment letter under which they will purchase certain notes to...
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- ABS
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