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The Blackstone Group wowed the structured finance world last week when it launched the largest CLO since 1998.
February 9 -
After wrapping up its Landmark III CDO less than two months ago, Aladdin Capital Manage-ment is busy in the market again, putting together its very first loan fund, which is expected to total more than $500 million.
February 9 -
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Even though the home equity and mortgage sectors of the securitization markets have experienced dramatic tightening since 3Q03, there is still room for appreciation in 2004, depending on where investors place their bets. In a pair of conference calls last week, researchers from Credit Suisse First Boston and UBS gave their respective opinions as to where value lies in the current market, and they shared surprisingly similar opinions.
February 2 -
A recent decision from a New York appellate court could cut into cash flows supporting the state's tobacco bond deals, according to a report from Moody's Investors Service.
February 2 -
In the midst of the winter ABS conference season, primary activity slowed last week. The presence of several large offerings, however, kept volume levels respectable. Through last Thursday, the U.S. ABS market had priced $8 billion, with an additional $1.5 billion hoping to wrap up in Friday's session.
February 2 -
A high yield CLO takes the prize for being the first visible U.S. CDO issuance to price in 2004. Sources report Light Point I, a $409 million arbitrage cash flow vehicle, priced in line with spread talk last week.
February 2 -
For a new kid on the ABS conference block, the American Securitization Forum (ASF) did well for itself as a solid showing flocked to attend ASF 2004, held last week at the Fairmont Scottsdale Princess in Scottsdale, Ariz. In fact, organizers have tentatively set a Jan. 23-26, 2005 date for next year's gathering. Unofficial estimates pegged this year's attendance at well over 1,000, a number that ASF Chairman Vernon Wright aims to double for next year's event.
February 2 -
The recent trend of capital infusion to the student loan sector, though positive, presents risks, said panelists at American Securitization Forum's ASF 2004 conference last week.
February 2 -
In the past year, unprecedented downgrades of senior CDO tranches caused many investors to ask: Does a triple-A rating imply less volatility?
February 2
