Another Fine Mezz

◆ Don't sweat the downgrade  ◆ ABS rush ahead  ◆ Another Fine Member for the team Three became four this week on everyone's favourite securitization podcast. GlobalCapital 's newest reporter Diana Bravo joined the team from New York to say hello and discuss an i nteresting development in the US solar ABS market . Rating agencies downgraded Altice in the wake of a fateful investor ca...

Victoria Thiele took on hosting duties for this week's episode of Another Fine Mezz with usual host, Tom Lemmon, off playing golf somewhere.  With so many ABS deals in the market, Victoria also had to ease the load on George Smith earlier in the week.  But Victoria and George weren't the only ones in need of a little extra time. European ABS investors were so stretched that the question...

This week's episode of Another Fine Mezz had a certain morning after the night before feel, with Tom Lemmon and Victoria Thiele still a bit fragile from their midweek fun. Fortunately, George Smith had youth on his side to lend a steadier hand.  The trio reflected on a bustling (and boozy!) night at GlobalCapital's 2024 European Securitization Awards. While the event was a great success,...

This week on Another Fine Mezz, it was a case one step forward and two back as host Tom Lemmon returned only to find CLO reporter, Victoria Thiele away from her desk and enjoying the beauty of South Korea.  With Tom only just back in one piece after SFVegas 2024, there was much to discuss. From spying who's visiting from their European bases, to paying homage to the superior knowledge residin...

As much the three hosts of Another Fine Mezz love talking about deals, this episode is dedicated to the people who make them happen. At the start of a new year, some of our listeners may be thinking about the next steps in their careers, while others are looking to grow their teams. We are very pleased that Edward James, structured finance recruiter and founder of RCQ Associates, agreed to sit dow...

With SFVegas just hours away, Tom Lemmon sat down with Michael Bright, CEO of the Structured Finance Association (SFA) to hear how preparations for the huge annual gathering was going. Around 9,000 attendees expected this year, which means Bright and the team at the SFA are constantly looking improve the offering at the Aria Hotel to keep the securitization market coming back. That included dealin...

On Another Fine Mezz this week, European reporters George Smith and Victoria Thiele were given a little break while Tom Lemmon gears up for the SF Vegas 2024 conference next week. This episode is the second in the US Securitization mini-series where market participants across the sector discuss their area of expertise, but also how they got there and what it’s really like to do day in day out. For...

Victoria Thiele and George Smith were left to their own devices as Tom Lemmon had the audacity to take a week off, although he still managed to launch a mini series that will supplement the regular Another Fine Mezz episodes in the coming weeks.  ABS issuance seemed to be taking a breather after the January rush, but that only gave George the time to dive into a particularly juicy story (and to co...

◆ No need to panic for consumer ABS ◆ Trusting your gut with career opportunities ◆ From the USSR to structured finance This week’s episode of Another Fine Mezz with the full team may have come and gone but this bonus episode, is the first in a mini-series where global securitization editor Tom Lemmon, talks to market participants from across US Securitization. Tom and his guests will focus not on...

◆ VW misses ESG deadline  ◆ Good times for ABS  ◆ CLO triple-A funds fear fall from power All three podcasters were reunited once again after a good week all around. While Tom tried the best burger in NYC (second best, everyone knows Corner Bistro is the best - Ed) and Victoria had reason to feel famous, George held the Big Car to account.  Volkswagen broke its promise to provide loan level emissi...

This week's episode of Another Fine Mezz was a tale of determination, of squeezing every last drop you have left.  Firstly, the clouds look to be finally clearing for UK buy-to-let (BTL) lenders, leading OneSavings Bank subsidiary Charter Court to drive its latest UK BTL RMBS tighter.  Then in European CLOs, managers continued to take advantage of strong sentiment as they crunched spreads tig...

Another week, another episode of Another Fine Mezz with a man down as Tom Lemmon faced yet more roadblocks on his path to being a complete US employee.  Back in London, Victoria Thiele stood in as host to proudly proclaim herself as a dark horse for securitization podcast host of the year.  As the newest jet-setter in the podcasting trio, George Smith reported back from a hectic week where he mode...

◆ Europeans want UK RMBS ◆ ESMA perplexes investors ◆ CLO amortisation: a vanishing act Just two weeks into the year and Another Fine Mezz is one man down. The cold, the jet lag and a US bank holiday conspired to take Tom Lemmon out; leaving Victoria Thiele and George Smith to discuss the latest in European securitization between themselves.  With deals galore in the UK RMBS market, it was a near...

With 2024 upon us, the Another Fine Mezz team are calling this week's episode the first of season 2.  All three of Tom Lemmon, Victoria Thiele and George Smith were recording this week, while George was particularly needed after a rapid start to the new year in UK prime RMBS. Lloyds' Permanent deal also got a rather snazzy cartoon for George to brag about.  However, Victoria may feel tha...

In the last episode before Christmas, George Smith and Victoria Thiele discuss why Europe’s ESG securitization issuers are still feeling upbeat despite the lack of a clear ‘greenium’. Tom Lemmon was off this week, hopefully brushing up on his golf skills, after George Smith’s exploits at the GlobalCapital Christmas party put his status as Another Fine Mezz’s resident putting expert into doubt. Vic...

This week's episode of Another Fine Mezz went all Sci-Fi thanks to reporters George Smith and Victoria Thiele.  Intrigued by some survey data on the use of tools like ChatGPT, the question was whether artificial intelligence could start becoming more widely used in securitization and CLOs. It's unclear exactly how it'll be used and whether avid listeners to the podcast should be fea...

Host Tom Lemmon retuned for this week's episode of Another Fine Mezz, while reporters Victoria Thiele and George Smith were well-recovered from their midweek escapades with some unnamed contacts.  It seems European CLO investors are feeling pretty happy with themselves after a successful year where the asset class outperformed a number of competitors.  It's outlook season and so George w...

With Tom Lemmon off giving thanks for a conveniently timed move to New York, Victoria Thiele and George Smith held the fort on this week’s episode of Another Fine Mezz. Over the week, George and Tom had done a deep dive into Nationwide’s ‘stock and drop’ tactic for speeding up RMBS distribution, briefly mentioned on the previous episode. George explains why it’s a great idea, but won’t spare the m...

On this week's episode of Another Fine Mezz , reporters George Smith and Victoria Thiele put up with a rather exhausted and jet lagged host, Tom Lemmon.  Arini priced its long-awaited debut European CLO but as is becoming the norm for new entrants into the market, both in Europe and the US, the firm had to pay a slight premium. However, that in itself is not a bad thing, as Victoria also wrot...

This week's episode of Another Fine Mezz saw GlobalCapital's Tom Lemmon host from the comfort of his home in London for the final time, at least this year as he boards a plane to New York City.  European ABS reporter George Smith was a little under the weather, but CLO reporter Victoria Thiele stepped up to take the limelight and explain how raising capital for captive CLO equity funds i...

It was back to normal for this week’s episode of Another Fine Mezz as Tom Lemmon welcomed back reporters Victoria Thiele and George Smith. With market activity drifting towards hibernation, that normally means it’s time for regulators to take centre stage. And so, the UK’s Prudential Regulation Authority (PRA) did, with its consultation paper on securitization and how it relates to the capital mar...

In this week's episode of Another Fine Mezz, Tom Lemmon reported from Miami at IMN and FIIN's ABS East 2023 conference, while the usual suspects, Victoria Thiele and George Smith, were given a well-earned rest.  Jennifer Thomas, vice president and portfolio manager at investment firm Loomis Sayles joined the podcast in between her hectic schedule as her team looked for opportunities amid...

Tom Lemmon had his head in the clouds this week as he took off for Miami (if you’re at ABS East, get in touch for a meeting). So, it was up to Victoria Thiele and George Smith alone to discuss European securitization. Equity release mortgages have been securitized in mostly private transactions for a long time, but George has heard good reasons why they might be on the verge of progressing into a...

Over the past week, host Tom Lemmon has (almost) come to terms with being the wrong side of 30, and is ready to apply the wisdom of old age to European Securitization with reporters George Smith and Victoria Thiele. BPCE's prime French RMBS shocked bankers this week, but George Smith thinks it might be a sign that the market can finally move on from its summer struggles with the triple-As. Me...

For this week’s episode of Another Fine Mezz , Tom Lemmon was joined by Ares Management’s co-head of alternative credit, Joel Holsinger to discuss the Private Credit Summit at ABS East 2023. Ares are one of a number of private credit firms set to descend on Miami in two weeks’ time. Holsinger, also a keynote speaker at the conference, explained why firms like his are taking an even greater interes...