Structured Bonds - All Articles

  • EBA clears path to CLO resurrection

    The primary market in arbitrage CLOs, long hamstrung by regulatory confusion when it seemed that risk retention rules designed for RMBS might apply also to CLOs, could be set for a comeback. New guidelines from the European Banking Authority might now have cleared the way for deals to return — but not until spreads start to line up.

    • 29 Sep 2011
  • Refi risk prompts Grand downgrade

    Moody’s has downgraded all classes of German Residential Asset Note Distributor (Grand), the largest CMBS deal in the European market, amid fears that it will be a struggle to refinance the €4.7bn issue.

    • 22 Sep 2011
  • VW sets spreads on new ABS

    Leads HSBC, WestLB and VW Bank have set the spreads for VCL 14, the new auto lease ABS from Volkswagen.

    • 21 Sep 2011
  • Credit where it’s due: M&G integrates ABS

    Having cash on hand in early 2009 served M&G’s ABS funds well. Like many investors active in the asset today, they gritted their teeth and held on as leverage washed out the system, to emerge as committed ABS evangelists. But unlike other ABS managers, M&G has been pushing the integrated approach, leavening credit portfolio returns with a sprinkle of asset-backed stardust. Owen Sanderson met Patrick Janssen and Richard Ryan to find out more.

    • 15 Sep 2011