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Investment management firm Babson Capital Management has been selected by the controlling class of investors to serve as successor collateral manager of two CDOs previously managed by Tricadia Loan Management.
January 27 -
Prior to the recent dark age of credit, CLOs were kings in the land of the leveraged loan, a seat of power that diminished as the recession wore on and the loans in their fiefdoms lost value, causing a medieval-like bleeding of cash. But now sources say CLO cash is back, and the funds may once again be influencing the primary loan market.
January 22 -
The ongoing The TCW Group and Jeffrey Gundlach soap opera completed another episode yesterday when the money management firm filed suit against the bond pro and his new institution in Los Angeles Superior Court.
January 8 -
Commercial finance firm NewStar Financial completed a $275 million CLO. The proceeds will be used to refinance existing debt and provide $50 million of new lending capacity.
January 7 -
As is often the case when looking into the future, we have some good news and some bad news regarding the leveraged loan market in 2010. The bad news, though hardly a surprise, comes in the form of returns - much lower ones. The good news is the expectation that primary issuance will jump, with some market participants portending the return of the CLO.
January 4 -
As of the holidays, a hefty CDO was in the Brazilian market and drawing substantial interest, sources said.
January 4 -
In 2009, the ABS market came back from the brink. Because of extensive government support in the U.S. and across the pond, issuers and investors emerged from hiding and started doing deals again. But this nascent activity was all premised on the fact that the government was serving as the securitization market's backstop.
January 4 -
Since mid-2007, the European securitization primary markets have been living in a state of suspended animation.
January 4 -
It appears that the three largest U.S. banks have begun to prepare for the much-awaited (and doubted) comeback of the CLO market.
December 15 -
Fitch Ratings published its surveillance criteria for rating CDOs exposed to corporate debt.
December 7
