The $426.2 million COLT 2017-2 is backed entirely by loans originated by Caliber, an affiliate of private equity firm Lone Star Funds. There are no loans originated by Sterling Bank & Trust, which accounted for 22% of the collateral for the prior deal.
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The investment arm of Microsoft founder Paul Allen has also committed $100 million of funding to help CleanFund warehouse additional PACE assets that will eventually be securitized.
October 11
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HPS Investment Partners is adding a new name to one of its legacy Highbridge CLOs, as well as piling on extensive changes to note structure, deal terms and restrictions on some higher-risk assets.
October 10
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The private equity firm obtained $582.5 million in financing from Goldman Sachs and J.P. Morgan; proceeds were used to refinance $510 million of debt and return $52.2 million of equity to the sponsor.
October 10
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Investors don't appear to be overly concerned about recent management changes at the student loan refinance lender.
October 10
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CFPB Director Richard Cordray is using the Equifax breach to suggest the CFPB be given power to examine credit reporting agencies for potential cybersecurity lapses.
October 10
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Just $7.6 billion of deals were refinanced or reset in September, bringing the total for the third quarter to $27.2 billion, far short of the pace of the first half, when approximately $138 billion was reworked.
October 9
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A report released Friday calls risk retention "an imprecise mechanism" for encouraging the alignment of interest between sponsors and investors. It recommends creating loan-specific requirements under which managers would receive relief.
October 6
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Belmont Green Finance, which began originating loans in late 2016, has gathered up its first round of originations through 3Q2017 in a transaction that will issue up to £230.6 million in notes.
October 6
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The sale of the struggling Financial Freedom unit to an undisclosed buyer would continue CIT's strategy of shedding noncore business lines.
October 6
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The Treasury Department is expanding its calls for overhauling regulation of the financial services sector, this time focusing on changes to the most significant rules surrounding securitization and derivatives.
October 6
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The proportion of collateral that will be acquired after the CPS Auto Receivables Trust 2017-D closes is 33.3%, or $66 million, from the 29.7% level from the sponsor's prior deal in July.
October 6
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Chicago hopes to get into the market by year's end with the first of up to $3 billion of refunding under new credit.
October 5
