CDOs/CLOs

Unlike the sponsor's previous transaction, which recycled collateral issued pre-crisis, this one includes newly issued securities intended to help small banks and insurance companies raise capital.

The legislation, sponsored by Rep. Andy Barr (R-Ky.) and Rep. David Scott (D-Ga.), is modeled on an exemption that allows sponsors of residential mortgage bonds to avoid holding risk in their deals.

The total includes over $78 billion in new transactions; collateralized loan obligations issued post-crisis have lmited exposure to Toys R Us, which filed for bankruptcy last week.

Regulatory relief remains uncertain, but there's plenty to celebrate as some more esoteric asset classes, such as franchise fees and aircraft leases, move into the mainstream, while others, such as nonprime RMBS, are starting to revive.

CIFC once preferred investing in the equity of other managers' CLOs and selling stakes in its own deals. Risk retention has forced a change in this business model.

The upstart firm, owned by private equity firm Eldridge Industries, is issuing its third deal since June; the $1.3 billion offering brings its total issuance for the year to over $4 billion.

MJX CEO Hans Christensen thinks the $500 billion market lacks the heft to influence lawmakers or regulators; he says any relief from rules requiring "skin in the game" of deals will have to benefit other asset classes as well.

U.K. authorities are years away from phasing out the London Interbank Offered Rate, but Conning's Paul Norris is urging the industry to pick up the pace on alternative benchmarks now that it's a matter of "when," not "if."

RREEF America, the real estate investment unit of Deutsche Asset Management, is securitizing an unusual mix of speculative-grade project finance and corporate in a debut $431.3 million collateralized debt obligation.

New issuance of U.S. collateralized loan obligations reached $11.9 billion across 24 deals, taking year-to-date volume past $72.3 billion, according to Thomson Reuters LPC. The eight-month total is higher than the total issuance for all of 2016.