If you want an idea of what a Grexit would do to the roughly $16.7 billion of securitizations out there backed by assets in Greece, a good place to start is Argentina circa 2002-2003.
Much of Bacchiocchi's practice has been focused on repping sponsors, issuers and underwriters in cross-border deals out of Latin America.
The storm, which made landfall near Cabo San Lucas in Mexico on Sept. 15, had threatened holders of $100 million of MultiCat Mexico Ltd. (Series 2012-1) Class C notes with a 50% loss of their principal.
The fact that deals are backed by fixed-rate mortgages helps protect them from climbing interest rates in Russia. Very low LTVs also help.
New asset classes could include equipment leases and consumer loans; such deals could be sponsored by both existing and first-time issuers such as commercial banks, local branches of international banks, financial leasing companies and asset management companies.
Controversy over the Mexican equipment lease sector
After contracting sharply last year amid regulatory uncertainty and an economic slowdown, Brazils structured finance market now appears to be poised for a recovery.
Five new originators of Russian RMBS debuted last year; players say the issuer stable will keep growing.
Investors no longer feel limited to their own country for securitization investment opportunities; they are becoming comfortable with the risks and rewards of investing in and owning a global book.
Firm: 3i Debt Management
It's one of the biggest regulatory hurdles the market has faced since the financial crisis, and promises to bring wholesale changes to the structures of transactions as well as to the business models of managers. Clifford Chance partner Steven Kolyer weighs in.Current Issue