CLO Manager Shakeout May Come Earlier Than Expected
John Lapham, co-head of leveraged finance at PineBridge Investments, thinks that the ranks of CLO managers could start to thin well before risk retention rules take effect in 2016.
Europe
Moody’s Corp. Acquires Lewtan Technologies
Moodys Corp. has acquired Lewtan Technologies, a leading provider of analytical tools and data for the global structured finance market.
Navient Plans $664M Private Student Loan ABS
Navient Corp. is marketing $664 million of securities backed by private student loans.
European CLO Managers Taking a Shine to Volcker Rule
The Volcker Rule doesnt apply on their turf, but European CLO managers are nearly as eager to come in line with the regulation as their U.S. counterparts.
Even at Single-A, Bond Insurance Can Still Add Value: Fitch
Even at the single-A level, bond insurance can have significant value, according to Fitch Ratings.
CLO Activity Dials Down in U.S., Europe
The CLO new issue pipeline is finally slowing down from its breakneck pace of recent months.
UK RMBS Exposure to Interest-Only Loans is Diminishing
UK interest only mortgages are repaying at a similar rate to amortizing loans, according to Moody's Investor Service.
AXA Names Deborah Shire Head of Structured Finance
AXA Investment Managers has appointed Deborah Shire as head of structured finance.
Pramerica Preps 416.7M European CLO
Pramerica Investment Management is preparing a 416.7 million European collateralized loan obligation, according to a presale report published by Standard & Poors.
Laurent Mitaty Named SG’s Global Head of Securitization
He replaces Jim Ahern who is moving to Moodys Investors Service as head of structured finance in the Americas.
Assured Wraps $200M of Garanti DPR Deal
Assured Guaranty is wrapping a just-priced deal from Turkeys Garanti Bank, according to a release from the insurer.
Vivarte Restructing Hits Some CLOs Harder Than Others
French retailer Vivarte is one of most widely held credits among European collateralized loan obligations, but its debt restructuring will hit older deals harder than newer one.
S&P: Retail Loans Look Ripe for Russian ABS
More diversity may be on the way for Russias traditionally mortgage-bond monopolized securitization market, according to a report by Standard & Poors.
Ukraine Mortgage Bond Performing Fine
Despite being rated 'Caa1' by Moody's, the deal from Privatbank has exhibited low delinquencies and a enormous credit enhancement for the outstanding tranches.
Moody’s: Ruble RMBS on the Rise
Issuance of residential mortgage-backed securities (RMBS) in Russia should keep rising into 2014, according a report from Moodys Investors Service, which is active in the sector.
Regulators Must Finish Job on Basel III, Top Official Says
Stefan Ingves, chairman of the Basel Committee on Banking Supervision, called Friday for global regulators to complete their work on already agreed upon international banking reforms.
ABS Vegas: Waking the Sleeping Giant of Trade Finance
The rising costs for banks to hold even low-risk, short-term loans courtesy of Basel III is a powerful incentive for them to offload their trade finance receivables into securitizations.
Dutch Treasury Sells $5.1B of RMBS
The Dutch State Treasury, on Wednesday, sold $5.1 billion of non-agency RMBS held in the ING illiquid assets back-up facility to 5 dealers.
Lewtan Launches European Loan-Level Data Service
Data provider Lewtan has launched a service that provides information about loans used as collateral for European residential mortgage-backed securities and securitizations of loans to small and medium-sized enterprises.
U.S. ABCP Volume Shrinks 18% YTD
The U.S. ABCP market remains on its path of decline, with total outstandings falling 18% so far this year, according to Fitch Ratings.
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