CDOs/CLOs

The $503.3 million Madison Park XXXIV has a 133-basis-point spread for its $294.5 million Class A-1 loan tranche.

The boutique investment bank will retain a 45% minority stake in its former credit advisors unit, which was renamed and infused with additional capital by its new parent.

The refinancing also extends the reinvestment period of the $410 million Garrison BSL CLO 2016-1 by two years; the deal is non-callable for two years as well.

Gleysteen's return builds on a recent trend of old-school issuers revving up new CLO platforms

The JFSA published a final rule outlining the hoops U.S. CLO managers will have to jump through if Japanese banks are to avoid a higher risk weighting on their holdings; it remains to be seen how much of a burden this will be.

There are six tranches of AAA rated notes, including fixed-rate, some variable rate, and even a rare tranche of AAA rated loans.

DBRS and Kroll Bond Rating Agency also rate commercial real estate collateralized loan obligations, as does Moody’s Investors Service, though Moody’s rates only the senior tranche of deals

Nick Robinson, a 15-year Milbank veteran in advising CLO arrangers, managers and investors, joins as a partner in the New York office of the London-based firm.

Bancorp 2019-CRE5 contains 46 loans on apartment buildings accounting for 82.4% of the collateral pool; that's up from 78.8% for the sponsor's prior deal.

PGIM gains a 20 basis-point reduction in the AAA note coupon as it reduces the reinvestment period by six months