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Issue 924 - 18th October

  • SRT Market Update

    • Capital Relief Trades

      • Resonating strongly

        SRT Market Update

        Details have emerged on BNP Paribas’ latest synthetic securitisation from its Resonance programme. The 0.5-5% tranche reportedly priced at 6.9%, with the transaction referencing a €14bn portfolio of global corporate loans. This i...

      • Irish SRT

        SRT Market Update

        Allied Irish Bank’s (AIB) SRT transaction is making headway. In its first half results back in August, AIB disclosed it was “progressing RWA management measures such as a significant risk transfer (SRT) transaction” with...

  • News

    • Capital Relief Trades

      • Latest SRTx fixings released

        SRT market projections include spreads firming up and incrementally worsening credit risk outlook.

        While we enter the final quarter of the year, September was characterised by central banks and the significant easing priced in by markets. Such vision and prediction for a more aggressive rate-cutting cycle by major central banks has led to a bull s...

      • SCI CRT Awards: European Transaction of the Year

        Winner: Fanes SRT 2023

        Sparkasse’s debut SRT trade, Fanes SRT 2023, is SCI’s pick for the European Transaction of the Year category in this year’s CRT Awards. Not only is the deal the first-ever Italian STS synthetic securitisation involving o...

      • SCI CRT Awards: North American Transaction of the Year

        Winner: Granville USD

        Upsized from US$5bn to US$9bn, Scotiabank’s Granville USD represented the largest-ever debut Canadian SRT - in terms of both portfolio size and notes sold – when it closed in July 2023. In recognition of this, and for optimising B...

  • The Structured Credit Interview

    • Asset-Backed Finance

      • Local network

        Jonas Hybinette, co-founder and co-head of business development at RoundShield, answers SCI's questi...

        Q: RoundShield, a private investment firm specialising in asset-backed credit across Western European markets, recently closed its fifth European special opportunities fund (Fund V) with over US$1bn in commitments - surpassing its fundraisin...

    • Capital Relief Trades

      • SRT issuer profile: NatWest

        Rob Lloyd, head of balance sheet management at NatWest Commercial and Institutional, answers SCI's q...

        Q: How long have you been involved in SRT and what were the drivers behind your first trade? A: SRT is not a new concept, the bank has been users of the product for some time. This year we are embarking on the tenth issuance of our Nightingale prog...

  • Market Moves

    • Structured Finance

      • Job swaps weekly: MidOcean boosts capital formation capabilities

        People moves and key promotions in securitisation

        This week’s roundup of securitisation job swaps sees MidOcean Partners strengthen its ranks with the appointment of Jon Fox as global head of capital formation. He brings several decades of leadership and alternative asset management experi...


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