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GC Asia
CLO/CDO
CLO market to survive crisis credit wringer but will change
CLO players have been resolute that deal structures will withstand the pressure on corporate credit, and that the product has been tested by worse.
02 Apr 2020
Securitization
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ABS
Esoteric investors fear new era of risk beyond pandemic
Esoteric ABS has come to a standstill, but many market participants are confident that the damage will be manageable in the short term.
02 Apr 2020 -
ABS
FCA proposes credit card, loan payment freeze to protect consumers
The UK Financial Conduct Authority has proposed a three month freeze on all credit card and loan payments to help customers facing economic difficulties in the wake of the Covid-19 pandemic, measures which could drive losses on junior ABS bonds.
02 Apr 2020 -
ABS
Fitch puts all rated aircraft ABS on negative watch
Fitch Ratings put all 31 aircraft leasing and engine deals it rates on rating watch negative on Wednesday, blaming the rapidly declining credit quality of airline lessees backing the transactions.
01 Apr 2020
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Quick links:
Europe news
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EBA clarifies guidance on loans under moratoria
The European Banking Authority has made it clear when loans subject to Covid-19 moratoria should be classified as forborne exposures or distressed restructurings, following calls from the industry for further guidance in this area.
03 Apr 2020 -
FCA proposes credit card, loan payment freeze to protect consumers
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Together hires LibreMax alum for securitization role
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Aircraft lessors under spotlight in PP market
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Non-call risk intensifies as specialist lenders seek funding
US news
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Esoteric investors fear new era of risk beyond pandemic
Esoteric ABS has come to a standstill, but many market participants are confident that the damage will be manageable in the short term. Investors are more concerned about what will happen after the coronavirus pandemic, which is changing consumer behaviour and reshaping fundamental credit risks in all asset classes.
02 Apr 2020 -
The virus crisis is a proving ground for CLOs
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Fitch puts all rated aircraft ABS on negative watch
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ABS trading stabilises as difficult Q1 comes to a close
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Marketplace lenders see delinquencies, loan demand spike
Asia news
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The coronavirus graphic to watch: Global cases top 1 million, a quarter in US
UPDATED 3 April 2am GMT Over 1m people have now been infected with coronavirus, as the disease has grown exponentially. Nearly 250,000 of these are in the US, which now has three times as many cases as China has had.
03 Apr 2020 -
Guggenheim tops chart as IB revenues shrink
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Mercedes-Benz uses rare revolver for auto ABS
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Beijing Hyundai, VW ride on strong liquidity for ABS deals
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SAIC-GMAC, Geely show onshore ABS liquidity strength
ABS
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The coronavirus graphic to watch: Global cases top 1 million, a quarter in US
UPDATED 3 April 2am GMT Over 1m people have now been infected with coronavirus, as the disease has grown exponentially. Nearly 250,000 of these are in the US, which now has three times as many cases as China has had.
03 Apr 2020 -
Guggenheim tops chart as IB revenues shrink
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Esoteric investors fear new era of risk beyond pandemic
RMBS
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EBA clarifies guidance on loans under moratoria
The European Banking Authority has made it clear when loans subject to Covid-19 moratoria should be classified as forborne exposures or distressed restructurings, following calls from the industry for further guidance in this area.
03 Apr 2020 -
Together hires LibreMax alum for securitization role
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Non-call risk intensifies as specialist lenders seek funding
CMBS
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Virus crash grips private label mortgage markets
The private label mortgage market fell into the grip of the Covid-19 crisis this week as shocks to commercial property assets and an end to a decade of US job growth put non-agency CMBS and RMBS in jeopardy.
26 Mar 2020 -
CMBS double loan default bodes ill for UK shopping centres
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ABS cheers TALF 2.0 but bemoans limited scope
CLO/CDO
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Moody's takes negative action on 200 names held in CLOs
Moody’s has taken negative action on over 200 leveraged loan issuers held in CLOs since the beginning of March, according to a report from the rating agency this week.
02 Apr 2020 -
CLO market to survive crisis credit wringer but will change
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The virus crisis is a proving ground for CLOs
People & Markets
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CLO manager beefs up private credit team
US middle market debt specialist and CLO manager Monroe Capital has hired four staffers to its private credit team in New York and Chicago.
20 Nov 2019 -
EBA clarifies guidance on loans under moratoria
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Guggenheim tops chart as IB revenues shrink
Asia
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The coronavirus graphic to watch: Global cases top 1 million, a quarter in US
UPDATED 3 April 2am GMT Over 1m people have now been infected with coronavirus, as the disease has grown exponentially. Nearly 250,000 of these are in the US, which now has three times as many cases as China has had.
03 Apr 2020 -
Guggenheim tops chart as IB revenues shrink
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Mercedes-Benz uses rare revolver for auto ABS
Bookrunners of Global Structured Finance
| Rank | Lead Manager | Amount $bn | No of issues | Share % |
|---|---|---|---|---|
| 1 | JPMorgan | 31.35 | 80 | 12.79% |
| 2 | Citi | 23.80 | 75 | 9.71% |
| 3 | BofA Securities | 22.34 | 69 | 9.11% |
| 4 | Wells Fargo Securities | 20.70 | 59 | 8.44% |
| 5 | Credit Suisse | 20.60 | 56 | 8.40% |
Special reports
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ABS Vegas 2020 Day 2
25 Feb 2020 -
ABS Vegas 2020 Day 1
24 Feb 2020 -
The Crédit Agricole CIB covered bonds roundtable
21 Jan 2020 -
The LBBW public sector issuers' roundtable 2019
13 Jan 2020 -
Review of the Year 2019 and Outlook 2020
13 Dec 2019 -
Private Debt June 2019
26 Nov 2019 -
Uzbekistan October 2019
25 Oct 2019 -
Armenia Oct 2019
15 Oct 2019
