The ongoing deterioration in crude oil prices is raising concerns that the energy sectors distress will drag down CLOs that have overweight debt exposure to exploration/production and oilfield services firms.
-
Avis Rent a Car is seeking to issue up to $300 million in securitized notes, in one of its smallest securitizations of its rental car leasing contracts in years through the Avis Budget Rental Car Funding (AESOP) master trust.
March 17 -
The increasingly troubled sector often draws comparisons to the subprime mortgage market of the 2000s. But the more apt analogue is the auto-lending sector of the 1990s.
March 17 -
No surprise, Moodys Investors Service has not been asked to rate Citigroups latest securitization of unsecured consumer loans originated by Prosper Marketplace.
March 17 -
Cerberus Capital Management is marketing its first securitization of re-performing mortgages of the year.
March 16
-
Citigroup and Goldman Sachs are marketing nearly $2 billion of bonds backed by commercial mortgages used to facilitate Blackstone Real Estate Partners VIIIs acquisition of BioMed Realty Trust.
March 16 -
Octagon Investment Partners new CLO is its first leveraged loan collateralization since September, as well as its debut portfolio being acquired last November by global insurance asset firm Conning.
March 16 -
Despite months of concerns over the credit standing for troubled Valeant Pharmaceuticals, the specialty pharmaceutical company remains the single-largest obligor in collateralized loan obligation holdings.
March 16 -
While the $1.9 billion of bonds are not guaranteed by the government, most of the underlying loans could have been sold to Fannie and Freddie, and the transaction accomplishes the same thing as the GSEs' risk-transfer deals.
March 16 -
Issuance of bonds backed by aircraft leases is booming as airlines turn to lessors to fill gaps in their fast-expanding fleets in response to falling energy prices and rising passenger traffic. They are increasingly booking the older, less fuel-efficient airplanes in lessors fleets, which can now be operated profitably.
March 15 -
The Consumer Financial Protection Bureau asked a federal court Tuesday to shut down a California company accused of running a student debt relief scam that allegedly charged borrowers millions in illegal fees.
March 15 -
Wells Fargo is securitizing $712 million in commercial mortgages with heavy exposure to offices and self-storage facilities. The collateral is also less heavily concentrated compared to other CMBS deals covered by Fitch Ratings.
March 15




