Investors
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SRT debut and pipeline prospects
EBRD eyes debut SRT as CEE region presents attractive opportunities
The European Bank for Reconstruction and Development (EBRD) is preparing its first synthetic securitisation as an issuer, with a referenced portfolio of around €1bn and plans to bring the deal to market by early next year.
The EBRD will be tapping into the growing investor interest in deals from multilateral development banks (MDBs), as it aims to support .......
News 7 May 2025
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SCI In Conversation Podcast: Ujjaval Desai, Sound Point Capital
We discuss the hottest topics in securitisation today...
In this episode of SCI In Conversation, Simon Boughey, US editor, talks to Ujjaval Desai, head of structured products investing at Sound Point Capital. Ujjaval invests in the equity and mezz tranches of the CLO market, and here he talks about where he sees value currently, and what yield targets he aims to hit.
This episode can be accessed News Analysis 7 May 2025
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Bayview's fund finance arm taps into growing institutional demand
New platform aims to capitalise on the synergies between ABF and insurance mandates
Bayview Asset Management recently launched a fund finance investment platform, marking a significant step in its strategy to expand its asset-backed finance (ABF) offerings and meet the growing liquidity needs of GPs, LPs and institutional investors. The move was accompanied by the hiring of seasoned fund finance professionals Michael Timms and Colin Doherty, who will co-lead .......
The Structured Credit Interview 7 May 2025
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Latest SRTx fixings released
One-direction
The unpredictability triggered by president Trump’s now infamous ‘Liberation Day’ tariffs continues to drive a notable increase in spread levels and broader market sentiment values.
Credit spreads widened consistently during the last month of the first quarter and the latest SRTx fixings suggest that the SRT market is following suit (albeit as it as is typical, lagging traditional .......
News 7 May 2025
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Energy efficiency loan deal agreed
EIB Group and Cetelem partner on Spanish SRT
SRT Market Update 6 May 2025
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Funding Circle deepens ABS market presence
London-based originator returns to the securitisation market...
Funding Circle has returned to the securitisation market with SBOLT 2025-1, continuing its strategy of connecting institutional investors with the UK's smallest businesses. The transaction highlights the lender’s commitment to helping fund the real economy through a consistent and transparent funding model.
The move follows Funding Circle’s recently renewed forward flow arrangement, which will take the .......
News Analysis 30 April 2025
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CLO market treads cautiously amid tariff uncertainty and structural shifts
Caution in healthcare, pharma and auto sectors
As global trade policy continues to evolve and tariffs dominate the economic discourse, Alter Domus, believes the impact on the CLO market remains limited for now—but could deepen over time.
“While tariffs are grabbing headlines due to their dramatic nature, they remain a small part of the overall financial picture,” Tim Ruxton, capital markets md at .......
Talking Point 29 April 2025
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Job swaps weekly: Siepe follows international expansion with leadership team hires
People moves and key promotions in securitisation
This week’s roundup of securitisation job swaps sees structured debt and private credit fintech Siepe snapping up two senior executives from US Bank. Elsewhere, EF Hutton & Co has hired a structured finance veteran from Ziegler, while the EIF has named a new head of securitisation for south and west Europe.
CLO- and private-credit-focused software provider Siepe has hired .......
Market Moves 25 April 2025
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European ABS stands firm amid volatility
European and UK ABS defy volatility with strong Q1 issuance,...
Despite growing geopolitical tensions, rate uncertainties and a spike in volatility toward the end of March, European and UK ABS have proven resilient, and in some areas, remarkably buoyant, according to monthly European and UK factsheets monitored by SCI.
TwentyFour AM Momentum Bond Fund’s managers report €11bn of issuance across ABS sectors during March, highlighting “a significant uptick” in consumer and auto .......
News 22 April 2025
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Job swaps weekly: 400CM promotes five as investment strategy heads
Securitisation people moves and key promotions
This week’s round-up of job swaps sees 400 Capital Management (400CM) beef up its securitisation strategy team with a handful of promotions. Elsewhere, Ares Management Corporation has named a co-head of Europe for alternative credit, while Taylor Wessing has strengthened its banking and finance team.
400 Capital Management has announced five new heads of investment strategy. Portfolio manager Quinn .......
Market Moves 17 April 2025
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ELFA guidelines set to spur CLO transparency
Trustee best practices and improved disclosures recommended
The European Leveraged Finance Association (ELFA) has released new guidance aimed at improving transparency in CLO reporting. Published at the end of March, the document outlines trustee best practices, but may meet some obstacles in its implementation.
Under the recommendations, ELFA suggests that trustee reports implement standardised reporting of trading gains and par flush metrics; detailed tracking .......
News 17 April 2025
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ORDE breaks records with RMBS debut and eyes global expansion
ORDE Financial's ceo Paul Wells, debt capital marke...
Q: What were the key factors that contributed to the success of your inaugural A$1bn RMBS issuance?
Provider Profile 16 April 2025
A: Reflecting on our inaugural A$1bn RMBS transaction, ORDE Series 2024-1 – recognised as the largest inaugural non-bank RMBS issuance in Australian history – the success of the deal was the result of a deliberate, long-term strategy focused on building scalable, transparent and trusted .......
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Enra makes first charge RMBS debut with Elstree 2025-1 1st
Enra's inaugural first charge RMBS deal highlights disciplin...
Enra Specialist Finance’s Elstree 2025-1 1st transaction marks a significant milestone as the firm’s inaugural securitisation of loans secured solely by first charge residential mortgages. This debut in the first charge mortgage space showcases Enra’s commitment to RMBS markets and the RMBS investor base. Well-supported by the market, the deal adds to the firm’s track record of programmatic .......
News Analysis 14 April 2025
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ESG securitisation issuance regains momentum with illimity and Auxmoney transactions
Back-to-back deals point to growing sustainability-linked pipeline for 2025
European ESG securitisation appears to be regaining momentum, with illimity and Auxmoney finalising two transactions in as many days. The back-to-back deals reflect the renewed appetite for sustainability-linked ABS and suggest ESG-labelled issuance is firmly back on the agenda for 2025, following a rebound in activity through 2024 as macroeconomic stresses eased.
Italian .......
News 11 April 2025
New player
EIB Group and ABN AMRO sign synthetic securitisation
The transaction is the first synthetic securitisation entered into between Dutch lender ABN AMRO (ABN) and the EIB Group. It references a portfolio of over €1bn in existing Dutch SME and corporate exposures and enables ABN to free up capital (€1.2bn) for new lending to Dutch SMEs and Mid-Caps, of which at least 30% will be allocated to projects .......
SRT Market Update 10 April 2025
Latest SRTx fixings released
Faring worse
This month, policy uncertainty and its associated market volatility have taken a clear position of prominence within the global financial markets.
The current scenario of across-the-board tariffs accompanied by retaliatory tariffs, has the potential to weigh on corporates’ input costs and profit margins, beyond a ‘one time’ upward price level shock. Against this evolving and intense backdrop, leading .......
News 9 April 2025