CDOs/CLOs

It’s not clear whether syndicated credit agreements require 100% investor consent before adopting a new benchmark. The industry trade group suggests giving new loans the flexibility to change indexes without unanimous approval, but investor advocates are balking.

The $533.1 million collateralized loan obligation portfolio has an unusual capital structure; just two senior tranches will be issued, along with a single subordinated tranche comprising more than one-third of the notional value.

The three new deals totaling $1 billion that priced in August, bringing issuance for the year-to-date to $8.3 billion., That matches 2016's full-year total.

Although challenges have accelerated for certain segments of the U.S. retail industry, the exposure to troubled retail in U.S. structured finance sectors is limited, posing small-to-modest risks for some asset classes.

In Europe, €1.6 billion of new collateralized loan obligations priced during the month July, taking issuance volume for the year to date to €10 billion across 25 deals. That's in line with the €9.7 billion issued during same period last year.

Tennenbaum is offering up its third middle-market CLO as market conditions ripen for SME loan portfolios

So-called transitional lending has traditionally been kept on balance sheet; but it’s become attractive to bundle the loans for transactions called (take a deep breath) commercial real estate collateralized loan obligations. Can investors stomach the features these deals sported before the crisis?

An affiliate managing the loan for the reinsurance giant's investment advisory arm will keep a horizontal equity strip of the deal for dual EU/US risk retention compliance.

While leveraged loans may use prime as a fallback, getting unanimous consent from collateralized loan obligation investors to use an alternative benchmark could be a challenge.

The alliance should help the asset registry and communications platform, accelerate its expansion beyond leveraged loans and structured finance and into more overseas markets.