CDOs/CLOs

The total volume of CLO refinancings for the month to date has reachd $11.3 billion, as managers continue to take advantage of the repeal of skin-in-the-game rules for this asset class.

With no more concerns about triggering risk retention on its large pile of older deals, Blackstone is dusting off CLO portfolios that have long been eligible for a refi makeover.

The LSTA has declared the era of risk retention for open-market CLOs is over, pending an unlikely U.S. Supreme Court intervention. "We believe we can exhale," the trade group said in a statement.

The $31.7 billion in collateralized loan obligation deals priced year-to-date is the most in a first quarter in the post-crisis era.

Fortress Investment Group's $702.8 portfolio of SME loans is the first since Softbank Group acquired Fortress in December.

Managers are regaining the ability to amend older deals that they previously locked down to maintain risk-retention exemptions.

The U.S. CLO manager breaks the ice with its first euro-denominated deal, which priced Friday and will close in May when it is about 75% ramped up.

The deadline to seek an en banc hearing has now passed, and skin-in-the-game rules for collateralized loan obligations could be off the books by April 2.

The deadline to appeal the rollback of risk-retention requirements for CLO managers expired at midnight last night, but Voya Alternative Asset Management is not taking advantage.

An affiliate of the private-equity firm Angel Oak is packaging bank-issued sub debt to minimize risk for bondholders. It recently completed its first securitization and has plans to issue two deals a year.