Weekly Issue Archive »

Issue 913 - 2nd August

  • SRT Market Update

    • Capital Relief Trades

      • Swedish SRT finalised

        SRT market update

        Further demonstration of the growing interest, opportunities and activity from the Nordics for risk-transfer mechanisms has materialised. Swedish lender Marginalen Bank has completed a risk sharing transaction with seasoned SRT investor Ch...

      • Third Merchants deal revealed

        SRT Market Update

        Merchants Bank has revealed details of its third CRT, which closed at the end of March. Called MBMF 2024-C1, the US$543.5m transaction references a portfolio of 41 performing multifamily bridge loans secured by 53 properties. The...

  • News

    • ABS

      • Ears pricked

        Interest returning to CRE market as conditions improve

        Alternative real estate investors say securitisation is set to remain a key tool to increase market share amid persistent interest rate challenges. In particular, CRE lending is poised to become a primary focus, as buyers leverage securitisation to...

    • Capital Relief Trades

      • Goldie synthetic

        New capital call CRT targets sub-500bp

        Goldman Sachs is the latest US bank to enter the synthetic securitization fray, on this occasion referencing a US$2bn capital call loan book, say sources. The deal has not yet closed, and they add that the issuer is targeting pricing south of 500bp...

      • Pinnacle peaks

        Pinnacle, a US$50bn bank, gets in on the CRT game

        Pinnacle Financial Partners, a regional bank based in Nashville, Tennessee, has completed a debut CRT transaction referencing mortgage assets, according to reports. The trade is in the form of a US$86.5m CDS contract that references a US$1.73bn mor...

      • Valley vaults

        Valley, another regional, does CRT on auto loan book

        As further evidence of the growing reach of the CRT product into deeper regions of the US regional bank market, Valley National Bank announced at the end of last week in its quarterly results that it had completed a CRT transaction referencing a US$1...

  • Market Moves

    • ABS

      • WAM understatement hits FFELP SLABS

        Market updates and sector developments

        Moody's has placed 12 tranches from nine FFELP student loan securitisations administered by Nelnet and 61 tranches from 11 FFELP ABS serviced by Nelnet on review for downgrade. The rating actions follow Nelnet's disclosure of a collateral data report...

    • Structured Finance

      • Hayfin inks MBO

        Market updates and sector developments

        Hayfin Capital Management has entered into an agreement with private investment firm Arctos Partners to support a management buyout of the business, acquiring British Columbia Investment Management Corporation’s (BCI) majority stake. The ne...

      • BNPP set to acquire AXA IM

        Market updates and sector developments

        AXA has entered into exclusive negotiations to sell its asset manager AXA Investment Managers (AXA IM) to BNP Paribas for cash proceeds of €5.1bn. Under the terms of the proposed transaction, AXA and BNP Paribas would also enter into a long-...

      • Job swaps weekly: DWS boosts alts franchise

        People moves and key promotions in securitisation

        DWS has appointed Max Elliott-Taylor as CLO portfolio manager. Based in London, he reports to Dan Robinson, EMEA head of alternative credit at the firm. Elliott-Taylor joins DWS from CIFC Asset Management, where he w...


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