The global insurance firm, which operates a three-year-old CLO management affiliate, has now launched private credit unit that will pursue controlling interests in deals managed by others.
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Oil and gas firms have represented the largest sector concentration for Enterprise Fleet Management since 2012, but had declined slightly in the sponsor's previous transaction.
March 7
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PGIM gains a 20 basis-point reduction in the AAA note coupon as it reduces the reinvestment period by six months
March 6
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Investors appear to be willing to accept lower spreads in exchange for tying their money up for less time; CLO managers may be hoping to refinance when market conditions improve.
March 6
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Hines Interests used the $755 million loan from Goldman and JPMorgan to take out a $505 million mortgage from two insurance companies, MetLife and New York LIfe.
March 6
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The majority of the collateral for Finsbury 2019-1 was originated over the past year, but it includes some loans from a 2016 deal that has been called; some of these older loans are delinquent.
March 6
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Brick-and-mortar retail isn’t dead yet. Though the trend of retailers closing stores in the face of stiff competition from e-merchants is certainly troubling to commercial real estate lenders, it would be a mistake to conclude that all retail loans are risky. Here's a look at which ones are the safest and, potentially, the scariest.
March 5
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After waiting a decade to return to the CLO market, AIG now has taken less than three months to issue a second deal through its new "CLO 2.0" platform.
March 5
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Of the $300 million in proceeds, $90 million will be set aside to fund future acquisitions; the rest will repay an outstanding tranche of variable funding notes and pay a dividend to Roark Capital.
March 5
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The Atlanta company, which reported fourth-quarter results Tuesday, said that the lending partnership with American Express will launch in Atlanta, Chicago, Dallas, Los Angeles and Dallas within the next 60 days.
March 5
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The secretary of housing and urban development plans to "finish out this term" but wants to return to "the private sector because I think you have just as much influence, maybe more."
March 5
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The $500.25 million Magnetite XXI has a three-year reinvestment period and can be called after just one year; it also priced inside most other deals that came to market in February.
March 4
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Add the Alabama company to the list of lenders that are disappointed in the returns on loans made through car dealers and their inability to build broader relationships with those borrowers.
March 4
