Collateralized loan obligations were once easily overlooked by investors who might have confused them with similar sounding alphabet soup investments that stumbled badly during the crisis. But CLOs are getting a well-deserved second look. Read on to learn more.
The $144 million transaction consists of two classes of notes, compared with a single tranche for the initial deal, which was redeemed early in September 2017; the sponsor can also purchase additional liens on assets in the collateral pool.
The subprime auto lender paid $2.9 million to Connecticut consumers and a $100,000 fine for miscalculating balances owed on repossessed cars and for charging improper fees. It says the settlement is part of an effort to clean up "legacy issues."