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Stakeholders in a $1.5B term loan (which include CLO managers) overwhelmingly approved the failed energy company's voluntary bankruptcy plan, providing them a 76% pro-rata share of new common stock in the company after it emerges from bankruptcy.

Contract signings to purchase previously owned homes surged in May by the most on record as mortgage rates fell and some states began to reopen from coronavirus lockdowns.

In a split 5-4 decision, the justices gave presidents new power to remove the agency's head at will. The ruling could have far-reaching implications for other regulators with single directors.

Money managers including Owl Rock Partners, Pretium and PGIM are racing to add workers with restructuring and bankruptcy experience as they take in record amounts of cash to buy cheap assets battered by the economic fallout of the coronavirus pandemic.

Managers of funds investing in asset-backed securities (ABS) that dislike the work-from-home (WFH) environment common since the onset of the coronavirus had better learn to adapt, because the situation will most likely continue for a while.

Nissan Motor Acceptance Corp. recently filed a prospectus with the SEC to issue $1.3 billion in a mix of fixed- and floating-rate notes, and quickly priced the offering for coupons significantly lower than its $1 billion transaction in late April.

The changes in terms on Byrider Finance’s subprime auto ABS deal compared to its predecessor illustrate how the COVID-19 pandemic is taking its toll.

Nonbank servicers have been seeking more sources of cash since the coronavirus disrupted markets and elevated forbearance rates. These are some strategies they may be able to use.

The COVID-19 pandemic’s longer-term impact on residential mortgage-backed securities remains uncertain, but for now DBRS Morningstar’s outlook for the residential property assessed clean energy asset-backed securities sector remains stable.

As COVID-19 infections increase across the country, including in California, Citigroup has structured a residential mortgage-backed securities offering fit for the times, providing investors with a strong deal structure and robust collateral.