CDOs/CLOs

The securitization market is weathering risk retention and rising interest rates, though Fitch Ratings is keeping its eye on some consumer asset classes as the credit cycle lengthens.

Benefit Street Partners is securitizing 20 short-term commercial real estate loans it originated or acquired for transitional properties currently with unstable cash flow.

The aerospace components manufacturer, one of the largest-held obligors in U.S. CLOs, is consolidating loans and tightening coupon spreads from 300 to 275 basis points over Libor.

Deal volume of $95 billion through 10 months is at a pace that would make 2017 the second-busiest year for post-crisis CLO issuance; AAA spreads, meanwhile, have reached three-year tights.

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.

Neuberger Berman Loan Advisors CLO 26 builds the Dallas-based manager's assets under management to $5.5 billion.

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.

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.

A wave of corporate loan refinancings is putting collateralized loan obligations afoul of a covenant designed to safeguard their own investors.

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.