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The unwinding and rebuilding of the struggling portfolios of Fifth Street's business development companies could take two to three years, Oaktree management stated in an earnings call Thursday.
October 27
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Neuberger Berman Loan Advisors CLO 26 builds the Dallas-based manager's assets under management to $5.5 billion.
October 25
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The U.S. Second Circuit ruled that Momentive Performance Materials should use what's known a a "market rates" formula to determine the appropriate payout for a series of replacement notes issued to bondholders.
October 23
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Four new CLOs have been priced in the last week inside of 120 basis points over Libor, a rarely breached floor for most of 2017.
October 20
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A wave of corporate loan refinancings is putting collateralized loan obligations afoul of a covenant designed to safeguard their own investors.
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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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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The $456.9 million LCCM 2017-FLI is secured by 19 commercial mortgages, the largest of them an amended and restated loan on Two Gateway, an office building in downtown Newark, New Jersey.
October 3
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Penta CLO 3 is the first CLO since 2015 for the UK subsidiary of Swiss global asset management Partners Group Holdings AG.
October 2
