With sales recovering from the the fading diesel-engine emissions scandal from 2015, Volkswagen's U.S. captive finance arm is inviting prime auto-loan investors out for a drive for the first time since 2014.
CLO issuance is already 55 percent above last year's exceptionally strong pace. With new paper coming to market and a frenzy of refinancing and resetting activity, there is no denying that CLOs are hot. Read on to learn more.
The bank, which purchases loans from Mosaic, is contributing an unspecified amount of collateral for the $317 million deal; it's also the underwriter and risk retention holder, and appears to be behind the unusual structure.