John S. Hintze

CLO spreads should tighten toward year-end, easing arbitrage challenges. Meanwhile investors will be challenged to calibrate the recovery rate, says Pratik Gupta.

One case found that simply defining the investment in the new debt as an allowable transaction was helpful, but new indenture language to facilitate participation provides CLOs with little benefit.

The specialist says the key to selecting less-trafficked ABS sectors is their ability to withstand an expected recession.

Despite dearth of new loans, retail investors' exit from loan funds provides CLOs with new-issue supply.

Despite firm objections from structured finance advocates, some institutional investors welcome the additional protection, citing Wall Street's potential conflicts of interest.

Deal supply remains relatively strong in the sector, but new originations still face a scarcity of new assets to roll into the deals.

The volatile securitization market fueled the structured-loan provider's record business last year.

Regulators saved lenders from a proliferation of banking issues in response to Silicon Valley Bank's collapse—and cemented the virtues of the borrow-lend strategy of CLOs.

Applying blockchain technology to ABS is making progress, but cryptocurrency debacles are slowing a further rollout

The regulator's proposal adds to measures already in place—net short positions—but critics worry that overzealous application could dampen the market.

The structured finance specialist sees opportunities to expand the CLO investor base with the product, as the CLO-driven funds win over other sponsors.

Issuers and investors favor term SOFR for ABS floaters but regulators worry that expanding its use—even just a little—will undermine the new floating-rate benchmark.

The middle-market manager's diverse funding sources provide extra dry powder amid industry headwinds, and a head start to 2023 as CLO arbitrage improves.

The bonds cover relatively remote cyber risk for Beazley, a U.K. insurance and reinsurance company, which is tapping the cat bond market for the first time.

The consensus calls for shrinking collateralized loan obligation volume in 2023, but rewards are said to outweigh the risks.

Rule 15c2-11's public disclosure requirements could inhibit Rule 144A issuers unless addressed.

The catalog itself is valued at $4.1 billion, easily the largest portfolio value among the securitization industry's recent music royalty transactions.

The amended longstanding rule could drain liquidity from asset securitization markets, while a separate disclosure proposal is poised to burden CLOs.

Success could open up a major source of uncorrelated risk to structured-finance investors.

Should Libor become unavailable most CLO loans are already written to fall back to the prime rate. Managers will have to monitor their CLOs' legacy Libor loans.