The eligibility criteria for loans that can be acquired are “more liberal” than recent CRE CLOs rated by Kroll; they are also more liberal than those of Hunt’s initial CRE CLO, completed last year.
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The agencies had proposed revisions designed to make compliance less complex, but banks have expressed concern that the plan could have the opposite effect.
September 4
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Collateralized loan obligations denominated in pounds sterling were once a tough sell; two recent deals from Barclays and PGIM indicate that this is changing.
September 4
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Maybe political winds or another downturn will spark housing finance reform. But 10 years after the conservatorships began, the companies are still in perpetual limbo.
September 3
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The sponsor has increased the credit enhancement on the senior support class of notes on offer in order to offset the slightly higher risk to investors.
August 31
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The credit arm of the $24 billion asset H.I.G. Capital is marketing a $458.1 million BSL CLO, its first deal since April 2015.
August 31
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Widening spreads on ABS have made deposit funding relatively more attractive; the rating agency now expects full-year issuance to be at the low end of its original forecast of $40 billion to $50 billion.
August 30
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Only 9.6% of €1.08 billion of collateral meets the criteria for responsible lending and borrowing set by the National Institute for Family Finance in the Netherlands, down from 22.9% for the prior deal.
August 30
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Weilamann was previously managing director and head of U.S. ABS at the credit rating agency; he assumes his new role as Luis Reyna returns to academia.
August 30
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The $408.4M Anchorage Capital CLO 2018-10 adds to the $5.2B-asset manager's 2018 tally of three re-issues and a refinancing — not to mention a debut European CLO.
August 29
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The LendingClub founder responded to being booted from his company by starting a new one with involvement from former investors — and a loan buyer he had supposedly wronged.
August 29
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The initial collateral for Tower Bridge Funding No. 3 consists of 1,737 loans totaling £375.5 million, and there will be a £125 million prefunding account that can be used to acquire additional collateral before the first interest payment date.
August 29
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The percentage of CCC "buckets" in CLOs increased in the second quarter and they are now at levels similar to 2016, when managers struggled with concentrations of troubled energy-sector assets.
August 28
