CDOs/CLOs

FBR Capital Markets has made large cuts to its leveraged finance group, including high yield trading staff.

Buckley T. Ratchford, head of global bank loan trading and distressed investing at Goldman Sachs, will leave the firm at year’s end, according to an internal memo obtained by ASR sister publication Leveraged Finance News.

Babson Capital Management and its European arm Babson Capital Europe have postponed an IPO for a loan fund set to launch on the London Stock Exchange, according to a regulatory filing.

Quantifi has launched a free online information source for professionals involved in counterparty risk management and credit valuation adjustment (CVA).

After a significant slow down following the economic turmoil in August, CLO issuance is poised to pick up again as the loan market stabilizes, sources said. Indeed, the pipeline has even continued to grow despite the fact that a number of deals stalled over the summer.

Citigroup’s tender for the equity income notes issued by Skytop CLO resulted in it acquiring 46.77% of the $31 million of this class of securities outstanding.

Reinstating trust in the ratings process is key to growing investor interest, according to buyside participants in a Tuesday panel at the ABS East conference hosted by Information Management Network.

At the ABS East conference, organized by the Information Management Network, the message of ending the market’s over-reliance on ratings rang loud and clear.

There is a scarcity of investors at this year’s ABS East conference hosted by Information Management Network.