Securitization - Article Archive

  • AA Gets £1.3bn WBS Away Amid Headwinds

    The U.K.’s largest car breakdown assistance company, the Automobile Association, overcame turbulent market conditions this week to price the first investment grade and high yield bonds from a new whole business securitization platform.

    • 28 Jun 2013
  • Deal Flow Tipped To Weaken In Third Quarter

    Second quarter issuance—typically a busy period for the U.S. securitization market—ended with a whimper, and market professionals aren’t seeing grounds for a rebound in the second half.

    • 28 Jun 2013
  • Knight MBS Trader Hits The Dusty Trail

    Ruslan Margolin, head of non-agency mortgage-backed securities trading at Knight Capital Group, left the firm, destination: the whole world.

    • 28 Jun 2013
  • Securitization Can Add To Household Debt Imbalances

    Securitization of mortgages guaranteed by the Canadian government can cause a buildup of imbalances in the household sector, according to Tim Lane, a deputy governor at the Bank of Canada.

    • 28 Jun 2013
  • SEC To Press For Guilty Plea In MBS Cases

    The U.S. Securities and Exchange Commission will now likely begin pressing for guilty pleas in civil cases, including those involving mortgage-backed securities, and shift away from the settlements without admitting or denying guilt, according to legal experts.

    • 28 Jun 2013
  • Mortgage REITs Under Pressure May Drive MBS Volatility

    U.S. agency mortgage real estate investment trusts that rely heavily on repo funding may come under pressure to liquidate, and consequently drive up volatility in mortgage-backed securities, if repo lenders tighten their terms as a result of higher interest rates, according to Fitch Ratings.

    • 28 Jun 2013
  • Fed To Vote On Basel

    The Federal Reserve Board of governors plans to vote July 2 on the final rules for banks based on measures adopted by the Basel Committee on Banking Supervision.

    • 28 Jun 2013
  • B Of A Nixes AIG Bid On MBS Settlement

    Bank of America has rejected a bid by American International Group to renegotiate a $8.5 billion settlement with investors in mortgage-backed securities, as the insurer feels the agreed-upon amount was only a fraction of what they lost.

    • 28 Jun 2013
  • U.K. Seeks Advisers For RBS, Lloyds Sale

    The U.K. government has launched a tender for investment banks to advise on a future sale of its stake in the Royal Bank of Scotland and Lloyds Banking Group as it moves to return the banks to the private sector.

    • 28 Jun 2013
  • Denmark To Stick To Tough Bail-In Plan

    Danish Economy Minister Margrethe Vestager says Denmark will stick with its bail-in plan that is tougher than one included in a plan proposed by the European Union.

    • 28 Jun 2013
  • Barclays May Cut Lending To Meet PRA Goal

    Barclays says it may need to reduce lending in order to meet a 3% leverage ratio imposed by the U.K.’s Prudential Regulation Authority if it is forced to do so before the current 2015 timetable.

    • 28 Jun 2013
  • ECB Denies Mulling Fed-Style MBS Program

    The European Central Bank has denied a German newspaper’s report that it was discussing introducing a program to purchase mortgage-backed securities similar to one in which the U.S. Federal Reserve is currently engaged. Click here to read the story from Reuters.

    • 28 Jun 2013
  • “I expect this to continue until we get more clarity over the economy and the Fed. While there is still uncertainty, people will pull back if spreads are wider and yields are higher, it might not make as much economic sense to issue or originate.”

    —Scott Buchta, head of fixed-income strategy at Brean Capital, on his expectation that issuance of asset- and mortgage-backed securities could slump in the second-half of 2013.

    • 28 Jun 2013
  • One Year Ago

    Issuers of collateralized loan obligations in the U.S. were shoving their deals out the door during a “window of necessity” ahead of potential capital markets volatility and the traditional summer lull.

    • 28 Jun 2013
  • BT and BA keep US bonds alive as banks fear for H2 volumes

    Two UK borrowers braved the volatility in the US credit markets this week, while domestic issuers remained on the sidelines, as a senior US Federal Reserve official moved to reassure markets.

    • 28 Jun 2013
  • Brussels Airport has €500m debut as market stabilises

    Brussels Airport took advantage of a more stable day in European credit markets on Tuesday to launch its debut bond. Although the deal probably cost it more than it would have before the latest bout of volatility, the bond was well placed.

    • 28 Jun 2013
  • Deutsche Annington to sell unsecured bond after IPO

    Deutsche Annington, Germany’s largest residential property company, is roadshowing for its first unsecured corporate bond. The deal will be part of a wider refinancing of the company by its owner, Terra Firma, the UK private equity fund.

    • 28 Jun 2013
  • AA gets £1.3bn WBS away amid headwinds

    The UK’s largest car breakdown assistance company, the Automobile Association, overcame turbulent market conditions this week to price the first investment grade and high yield bonds from a new whole business securitization platform.

    • 28 Jun 2013
  • CRE Loan Prices Fall In May

    Loan prices in U.S. commercial mortgage-backed securities fell in May to 91.4% from 92% a month earlier but up from 88.2% a year earlier, according to DebtX.

    • 27 Jun 2013
  • Cantor Expands Credit Fixed Income

    Cantor Fitzgerald has expanded its credit fixed income team with the hiring of Keith Melchionni, David Patterson, John Kleinert and Jordan Cahn, who will focus on high-yield, investment-grade and distressed-debt sales and trading in New York.

    • 27 Jun 2013
  • U.S. Auto ABS Prime Delinquencies At 10-Year Low

    Net loss levels for U.S. prime automobile asset-backed securities fell for the fourth consecutive month in May, with prime delinquencies that are more than 60 days late or longer dropping to 0.29%, its lowest level in 10 years, according to Fitch Ratings.

    • 27 Jun 2013
  • Mexican RMBS Worsen

    Performance of Mexican residential mortgage-backed securities, excluding Sociedades Financieras de Objeto Limitado transactions, worsened as of April 30, with Moody’s Investors Service’s Mexican RMBS index rising to 4.4% from 3.2% a year ago.

    • 27 Jun 2013
  • Bank Plans Fail To Reduce Systemic Risk

    None of the U.S. banks deemed systemically important have submitted plans that sufficiently reduce any potential risk to the financial system in the event they fail, according to Jim Wigand, the Federal Deposit Insurance Corp.’s director of the new Office of Complex Financial Institutions.

    • 27 Jun 2013
  • Loan Performance Continues To Improve

    The performance of first-lien mortgages rose in the first quarter to 90.2%, continuing its upward trend over the past year, thanks to improving economic conditions, servicing transfers, home retention efforts and home forfeiture actions, according to the a report by the Office of the Comptroller of the Currency.

    • 27 Jun 2013
  • Banks Offering Higher Rates Amid Suring Rates, Volatility

    Banks have been offering rates on structured notes and market-linked certificates of deposit that are higher than advertised amid surging Treasury yields and a volatile stock market.

    • 27 Jun 2013
  • EC and EIB reveal three ways ABS could aid SMEs

    The European Commission and European Investment Bank have outlined the three ways they are considering using the securitization market to increase lending to European small- and medium-sized enterprises.

    • 27 Jun 2013
  • Leeds preps Albion RMBS against difficult backdrop

    Leeds Building Society is gearing up for its debut public issue from its Albion prime residential mortgage securitization shelf, in what will be only the fourth piece of UK RMBS issued this year.

    • 27 Jun 2013
  • Opera CMH workout in disarray as buyout is rejected

    Class ‘C’ and ‘D’ noteholders have rejected a proposal to change the payment waterfall of the troubled Opera Finance (CMH) CMBS, scuppering Kennedy Wilson’s buy-out of the Irish portfolio backing the deal. Rather than leading to a quick enforcement, however, the failed vote opens the door to Northwood Investors’ last ditch restructuring proposal.

    • 27 Jun 2013
  • Volkswagen Driver 11 prices at tight end of guidance

    Volkswagen Bank has priced its second Driver German auto loan securitisation of the year at the tight end of guidance for the senior class ‘A’ notes, after starting guidance wide of initial price thoughts.

    • 27 Jun 2013
  • Ulster Bank exceeds Celtic RMBS buyback target

    Royal Bank of Scotland’s Irish subsidiary, Ulster Bank, has bought back €1.5bn of Celtic Residential Irish Mortgage Securitization (CRSM) bonds, exceeding its targeted volume by around €250m.

    • 27 Jun 2013
  • Credit Suisse places legacy UK non-conforming RMBS

    Credit Suisse has successfully placed Alba 2013-1, a securitization of non-conforming UK mortgages that were mostly originated at the height of the UK property boom in 2006 and 2007, with the same handful of investors that bought Alba deals in 2012 and 2011.

    • 27 Jun 2013
  • ABS working group unveils simplified approach to capital

    A securitization industry working group has unveiled a second method for calculating capital requirements for securitization positions as it seeks to persuade the Basel Committee to change the capital framework it proposed at the end of last year.

    • 27 Jun 2013
  • High yield not shut, say bankers, as bridged deals wait for stability

    The European high yield market is not shut, bankers were confident this week, as the last few days brought some market stabilisation. Two banks plan to start premarketing bonds as early as Monday, after the Markit iTraxx Crossover tightened 56bp since the start of the week.

    • 27 Jun 2013
  • Intralot could relaunch high yield bond soon as refinancing CB is getting urgent

    Intralot, the Greek gaming machines and systems provider, has postponed plans for a €300m unsecured high yield bond, but could try to access the market again soon, as it still wants to buy back its convertible bond.

    • 27 Jun 2013
  • Coming attraction: Vue prepares HY bond for LBO

    Vue Entertainment, the UK cinema chain, could start premarketing its high yield bond to finance its takeover by Omers Private Equity and Alberta Investment Management Corp as early as next week.

    • 27 Jun 2013
  • Opera Workout Takes Another Twist As Kennedy Wilson Offer Is Rejected

    Class C and D noteholders have rejected a proposal to change the payment waterfall of the troubled Opera Finance (CMH) commercial mortgage-backed securities deal, scuppering Kennedy Wilson’s buy-out of the Irish portfolio backing the deal. Rather than leading to a quick enforcement, however, the failed vote opens the door to Northwood Investors’s last ditch restructuring proposal.

    • 27 Jun 2013
  • Credit Suisse Places Alba Legacy U.K. Non-Conforming RMBS

    Credit Suisse has successfully placed Alba 2013-1, a securitization of non-conforming U.K. mortgages that were mostly originated at the height of the U.K. property boom in 2006 and 2007, with the same handful of investors that bought Alba deals in 2012 and 2011.

    • 27 Jun 2013
  • Pricing for VW’s Driver 11 Tightened

    Volkswagen Bank set pricing for its second Driver German auto loan securitization at the tight end of guidance for the senior class A notes, after starting guidance wide of initial price thoughts.

    • 27 Jun 2013
  • Ireland Revises Mortgage Arrears Code

    The Central Bank of Ireland has revised its requirements for mortgage lenders that deal with borrowers facing or in mortgage arrears.

    • 27 Jun 2013
  • E.U. Adopt Failed-Bank Rules

    European Union finance ministers have agreed on rules that would require creditors to absorb losses in failed banks.

    • 27 Jun 2013
  • U.K. Banks Allowed To Lower Liquidity Stocks

    The U.K.’s Financial Policy Committee has told banks they may reduce their liquidity stocks to 80% of their requirements between now and 2015 in an effort to boost lending, freeing up an aggregated £70 billion ($106.63 billion).

    • 27 Jun 2013
  • Portuguese RMBS Remain Weak In Q1

    Performance of Portuguese residential mortgage-backed securities remained weak in the first quarter, according to Moody’s Investors Service.

    • 27 Jun 2013
  • Investor Losses From Deposit Set-Offs In E.U. Unlikely

    Fitch Ratings says the likelihood of structured finance or covered bond investors incurring losses as a result of the set-off of insured domestic deposits by obligors is highly remote in most European Union countries.

    • 27 Jun 2013
  • No Need Seen To Revive CMBS In France

    Lending in France has remained stable as non-banks have picked up where banks have withdrawn from the activity, according to market professionals, who suggested there was no need to revive the market for commercial mortgage-backed securities for this purpose.

    • 27 Jun 2013
  • All Revenue league tables

    Dealogic league tables of total revenue transactions, June 27, 2013. Including Investment Banking, Debt Capital Markets, Equity Capital Markets, Mergers & Acquisitions and Syndicated Loan revenues.

    • 27 Jun 2013
  • All Bonds league tables

    Dealogic league tables of bond transactions, June 26, 2013. Includes SSAs, FIG, investment grade and high-yield corporates, emerging markets and ABS.

    • 27 Jun 2013
  • Credit Suisse places Alba legacy UK non-conforming RMBS

    Credit Suisse has successfully placed Alba 2013-1, a securitization of non-conforming UK mortgages that were mostly originated at the height of the UK property boom in 2006 and 2007, with the same handful of investors that bought Alba deals in 2012 and 2011.

    • 27 Jun 2013
  • Pricing for VW’s Driver 11 tightened

    Volkswagen Bank is set to price its second Driver German auto loan securitisation at the tight end of guidance for the senior class ‘A’ notes, after starting guidance wide of initial price thoughts.

    • 27 Jun 2013
  • All Asian league tables by sector

    Dealogic league tables of Asian transactions, dated June 26, 2013. Including Bonds, ECM, Syndicated Loans, Mergers & Acquisitions.

    • 27 Jun 2013
  • International bonds league tables

    Dealogic league tables of bond transactions, June 26, 2013. Includes SSAs, FIG, investment grade and high-yield corporates, emerging markets and ABS.

    • 27 Jun 2013
  • Troubled Opera CMH CMBS takes another twist as Kennedy Wilson offer is rejected

    Class ‘C’ and ‘D’ noteholders have rejected a proposal to change the payment waterfall of the troubled Opera Finance (CMH) CMBS, scuppering Kennedy Wilson’s buy-out of the Irish portfolio backing the deal. Rather than leading to a quick enforcement, however, the failed vote opens the door to Northwood Investors’ last ditch restructuring proposal.

    • 27 Jun 2013
  • All Syndicated Loans league tables

    Dealogic league tables of loans transactions, June 27, 2013.

    • 27 Jun 2013
  • Premarketing for Vue high yield bonds as early as next week

    Vue Entertainment, the UK cinema chain, could start premarketing for its high yield bond to finance its takeover by Omers Private Equity and Alberta Investment Management Corporation as early as next week.

    • 27 Jun 2013
  • CSAM Gets Euro Deal Back On Track

    Credit Suisse Asset Management is back with its European collateralized loan obligation, Cadogan Square CLO V.

    • 26 Jun 2013
  • Southwest Securities Named ABS/MBS V.P.

    Dallas-based Southwest Securities has hired George Smith as v.p. in charge of mortgage-backed securities, asset-backed securities and commercial mortgage-backed securities trading.

    • 26 Jun 2013
  • Lawmakers Introduce GSE Reform Bill

    Sen. Bob Corker (R-Tenn.) and Mark Warner (D-Va.) introduced legislation that would wind down Fannie Mae and Freddie Mac within five years, and includes other measures, such as first-lien holders being able to block the borrower from taking out a second lien.

    • 26 Jun 2013
  • Auto ABS See Biggest Drop In 32 Months

    U.S. asset-backed securities linked to automobile loans are expected to experience in June their biggest decline since November 2010, falling 0.15%, over concerns that the Federal Reserve may slow its stimulus activities.

    • 26 Jun 2013
  • CMBS Delinquencies Improve In June

    A pick up in the pace of liquidations and modifications have helped improve the delinquency rate of commercial mortgage-backed securities in June, according to Barclays analysts.

    • 26 Jun 2013
  • Rate Volatility Shutting Jumbo Securitization Market

    Recent interest rate volatility has effectively closed the market for jumbo securitizations, according an FBR Capital Market research note.

    • 26 Jun 2013
  • UCal Sues Banks Over LIBOR

    The University of California has filed a lawsuit against more than a dozen banks, alleging they manipulated the London Interbank Offered Rate.

    • 26 Jun 2013
  • Freddie Mac Mortgage Portfolio Falls

    The unpaid principle balance of Freddie Mac’s mortgage portfolio fell in May for the first time since February, declining at an annualized rate of 1.5% since Jan. 1.

    • 26 Jun 2013
  • Goldman CLO Reshuffle Continues

    Omar Chaudhary has relocated from Goldman Sachs’ London office to head up the firm’s U.S. collateralized loan obligations new issue business in New York.

    • 26 Jun 2013
  • EURIBOR May Be Gone In A Year

    The Euro Interbank Offered Rate may be phased out within a year and replaced with a different benchmark that may be based partly on bank estimates on the price of borrowing as well as actual market rates, as banks have distanced themselves from EURIBOR over alleged manipulation.

    • 26 Jun 2013
  • Unsuitable Structured-Product Investors Identified

    Clarendon, the financial services agency, has issued a report that identifies the type of investors unsuitable for structured products, including nervous investors who are less likely to deal with losses, and overconfident ones.

    • 26 Jun 2013
  • Basel Agrees On Leverage-Ratio Formula

    The Basel Committee on Banking Supervision has agreed on a formula for banks to calculate and disclose their leverage ratios.

    • 26 Jun 2013
  • British Airways Launches £603 Mln Asset-Backed Bond

    British Airways has launched a £603 million ($924.37 million) asset-backed bond using 14 Boeing and Airbus planes due for delivery over the next year as collateral, the first U.K. airline to do so.

    • 26 Jun 2013
  • FTT Delayed Six Months

    The 11 European countries that have indicated they would introduce a financial transaction tax by Jan. 1 have agreed to delay its effective date by six months as their governments remain sharply divided on key aspects of the measure.

    • 26 Jun 2013
  • B Of E Orders Review Of Interest-Rate Risk To Banks

    The Bank of England has ordered a review of banks for their exposure to interest-rate risk, concerned that a sudden rise in rates could have a negative impact on them.

    • 26 Jun 2013
  • EC, EIB Reveal Trio Of Ways Securitization Could Help SMEs

    The European Commission and European Investment Bank have outlined the three ways they are considering using the securitization market to increase lending to European small and medium-sized enterprises.

    • 26 Jun 2013
  • Ulster Bank Exceeds Celtic RMBS Buyback Target

    Royal Bank of Scotland’s Irish subsidiary, Ulster Bank, has bought back EUR1.5 billion ($1.95 billion) of Celtic Residential Irish Mortgage Securitization (CRSM) bonds, exceeding its targeted volume by around €250 million ($325.08 million).

    • 26 Jun 2013
  • VW Forced Wide Of Initial Talk For Driver As Market Sell-Off Bites

    Formal guidance for Volkswagen Bank’s Driver 11 German auto loan securitization has been set wider than initial price thoughts in the class A and B tranches to take account of continued weakness in the secondary market.

    • 26 Jun 2013
  • High yield not closed, say bankers, as Crossover recovers

    The worst of the high yield market sell-off might be over in Europe, suggested market participants at the Euromoney Global Borrowers' and Investors' Forum in London today. This comes on a day when the Markit iTraxx Crossover tightened for the second day in a row — in what could indicate a market stabilisation.

    • 26 Jun 2013
  • EC and EIB reveal trio of ways securitization could help SMEs

    The European Commission and European Investment Bank have outlined the three ways they are considering using the securitization market to increase lending to European small and medium-sized enterprises.

    • 26 Jun 2013
  • VW forced wide of IPTs for Driver as market sell-off bites

    Formal guidance for Volkswagen Bank’s Driver 11 German auto loan securitization has been set wider than initial price thoughts in the class ‘A’ and ‘B’ tranches to take account of continued weakness in the secondary market.

    • 26 Jun 2013
  • Window market returns but corporates can handle it

    The lurching volatility in rates, equities and credit spreads as markets get used to the idea that US quantitative easing will have to be withdrawn are making life difficult for corporate bond issuers of all stripes.

    • 26 Jun 2013
  • Ulster Bank exceeds Celtic RMBS buyback target

    Royal Bank of Scotland’s Irish subsidiary, Ulster Bank, has bought back €1.5bn of Celtic Residential Irish Mortgage Securitization (CRSM) bonds, exceeding its targeted volume by around €250m.

    • 26 Jun 2013
  • Louisiana Hits Screens With Tobacco Settlement ABS

    The State of Louisiana is in the market with a $638.03 million securitization of tobacco settlement revenues.

    • 25 Jun 2013
  • Invesco Out With North End CLO

    Invesco Senior Secured Management is in the market with a $414.75 million collateralized loan obligation known as North End.

    • 25 Jun 2013
  • Freddie Mac Said To Prep Default-Risk Notes

    Freddie Mac is said to be preparing to sell notes linked to default risks of home-mortgage pools.

    • 25 Jun 2013
  • Loan Delinquency Continues To Improve

    Loan delinquencies continue to improve, falling 2.11% in May from the preceding month and down 12.01% from a year earlier, according to Lender Processing Services.

    • 25 Jun 2013
  • Outlook For Non-Agency RMBS Stable

    Standard & Poor’s says the outlook for private-label residential mortgage-backed securities is stable, rather than positive, because of some challenges in the sector, such as “limited principal and interest advancing by servicers, foreclosure and liquidation timelines, and the impact of loan modifications.”

    • 25 Jun 2013
  • Fitch Updates Rep & Warranty RMSB Criteria

    Fitch Ratings has updated the criteria it uses for analyzing representations and warranties as well as enforcement mechanisms in new issue U.S residential mortgage-backed securities.

    • 25 Jun 2013
  • DOJ Eyes 2015 RMBS Trial For S&P

    The U.S. Department of Justice is looking at a February 2015 trial date for its case against Standard & Poor’s over its ratings of residential mortgage-backed securities.

    • 25 Jun 2013
  • CFPB Proposes Mortgage Rule Revisions

    The U.S. Consumer Financial Protection Bureau has proposed clarifications and some “narrow revisions” to the mortgage rules it released in January.

    • 25 Jun 2013
  • Securitization Working Group Unveils Simplified Arbitrage-Free Approach To Capital

    A securitization industry working group has unveiled a second method for calculating capital requirements for securitization positions as it seeks to persuade the Basel Committee on Banking Supervision to change the capital framework it proposed at the end of last year.

    • 25 Jun 2013
  • AA Gets Secured Senior And HY Bonds Away In Difficult Market

    Pricing for the Automobile Association’s debut issue of bonds backed by its entire business started at generous spreads for both the senior and high yield portions, but sterling investors demanded even more to get involved in the senior 12-year tranche.

    • 25 Jun 2013
  • Securitisation working group unveils Simplified Arbitrage Free Approach to capital

    A securitisation industry working group has unveiled a second method for calculating capital requirements for securitisation positions as it seeks to persuade the Basel Committee to change the capital framework it proposed at the end of last year.

    • 25 Jun 2013
  • Austrian Bank To Raise EUR660 Mln To Repay Funds

    Austria’s Erste Group says it is planning a rights issue in the third quarter to raise EUR660 million ($863.4 million), which the bank will use to repay capital it received during the financial crisis.

    • 25 Jun 2013
  • Regulators Expected To Raise Banks’ Risk Weight

    Fitch Ratings predicts that other European regulators will follow the lead of Denmark, where Danske Bank has been ordered to increase its through-the-cycle probability of default assumptions in its internal risk models for corporate and institutional portfolios.

    • 25 Jun 2013
  • B Of E To Form LIBOR Committee

    Mark Carney, the incoming governor of the Bank of England, has confirmed plans to create a steering committee that will oversee reform of the London Interbank Offered Rate.

    • 25 Jun 2013
  • ECB Could Help Boost SME Securitization Market

    The European Central Bank could help develop the securitization market for small and medium-sized enterprises, according to Benoit Coeure, an executive board member of the ECB.

    • 25 Jun 2013
  • U.K. Mortgage Approvals Up 10.8% In May

    Mortgage approvals rose 10.8% in the U.K. in May from a year ago, according to the British Bankers’ Association.

    • 25 Jun 2013
  • Spanish Covered Bond Framework Praised

    Moody’s Investors Service has praised Spain’s covered bond legal framework, saying it has “several strengths” and provides “good protection against certain legal risks.”

    • 25 Jun 2013
  • AA gets secured senior and HY bonds away in difficult market

    Pricing for the Automobile Association’s debut issue of bonds backed by its entire business started at generous spreads for both the senior and high yield portions, but sterling investors demanded even more to get involved in the senior 12 year tranche.

    • 25 Jun 2013
  • Your Complimentary PDFs Of Total Securitization

    Click to access the free download of the two most recent issues of Total Securitization.

    • 25 Jun 2013
  • Your Complimentary PDFs Of Total Securitization

    Below, please find links to the two most recent issues of Total Securitization, including our exclusive Q & A with Richard Hopkin, managing director in the securitization group at the Association for Financial Markets in Europe, coverage of Global ABS in Brussels, comprehensive lists of new ABS pricings in the U.S. and Europe, and more.

    • 25 Jun 2013
  • Intralot postpones high yield bond debut

    Intralot, the Greek provider of gaming and transaction processing systems, has postponed its high yield bond debut. The Athens-listed company wanted to raise €300m in unsecured notes but on Friday decided to delay the issue, due to further deterioration in the market.

    • 25 Jun 2013
  • Ares Follows Carlyle’s Step-Up Strategy For New CLO

    Ares Management joined the new issue collateralized loan obligation pipeline Monday with a new $411.50 million trade, Ares XXVII, which is being brought to market by Goldman Sachs.

    • 24 Jun 2013
  • Market Jitters Bring Structured Finance To Standstill

    Credit market jitters brought structured finance to a near standstill Monday as there were no new deals in the primary asset-backed securities market with little activity in the secondary market.

    • 24 Jun 2013
  • Branding Firm Completes $275 Mln Securitization

    Iconix Brand Group has announced that its subsidiaries have completed $275 million issuance of senior secured notes in a private transaction under an existing securitization program.

    • 24 Jun 2013