The last few weeks have proven to be a tumultuous period for the capital markets, and with it a stark (and painful) reminder has been duly delivered on the impact that they have on all aspects of business and the wider economy. Securitisation has also shown that it is not immune to this turmoil demonstrated … Continue Reading
So called ‘sunshine backed bonds’ are one of the newest and most exciting asset classes to enter the asset-backed securities market since the financial crisis. The resurgence of the market has led to a number of esoteric ABS issuances in recent months but it was solar energy that seemed most ripe for applying securitisation techniques … Continue Reading
On 4 September 2013, the European Commission published a draft regulation on the regulation of European money market funds. Money market funds are important investors in certain types of securitisation, particularly asset backed commercial paper, and the draft Regulation includes some detailed provisions dealing with this relationship. This is explained in the recitals: “Due the fact … Continue Reading
As one of the newest junior associates to join the growing Structured Finance Group at Reed Smith, there are times when I feel that I have the best seat in the house to witness the changes going on in this tumultuous period for our financial markets. The economy as a whole, and its associated regulatory … Continue Reading
Those issuers, corporate services providers, collateral managers, servicers and special servicers that regularly submit debt announcements on the Irish Stock Exchange will know how straightforward and quick it is to submit. For those that don’t, at present this process involves simply sending a copy of the notice or announcement to the email address announcements@ise.ie and the … Continue Reading
It’s been a year since I joined the structured finance team. I can’t believe it went by so fast. A year of learning and moving forward. Downgrades, liquidity drawings and agent replacements in the summer, noteholder meetings in autumn, covered bonds and refinancing of old CMBS deals in the new year. Inevitably, this one year … Continue Reading
