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It's the Canadian bank's second deal of the year aimed at U.S. investors and adds to what has been a slow pace of credit card issuance this year. Two subordinate Canadian dollar tranches will be retained.
July 23
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The triple-A rated senior tranche of Ares European CLO X has a coupon of 85 basis points above Euribor, an indication that a four-month widening trend in Europe CLO spreads continues; the deal is expected to close in September.
July 23
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The Federal Housing Finance Agency is suspending its ongoing review of new credit scoring models and will instead move forward with creating a regulatory framework for providers of alternative credit scores to apply and be evaluated for use by Fannie Mae and Freddie Mac.
July 23
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The transaction, Shelter Growth CRE 2018-FL1, is backed by 22 properties with a total balance of $415.1 million; it is static, meaning the only new loans to be added to the trust will be "companion” interest in loans secured by existing assets.
July 23
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The New York State Supreme Court has ruled that Sound Point is within its rights to enforce a 90-day noncompete agreement with a manager who joined GoldenTree two weeks after his resignation.
July 22
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The federal bank regulators are considering roughly a dozen new rulemakings in response to the bill rolling back certain sections of Dodd-Frank.
July 20
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Startup LoanSnap, a company funded in part by Virgin Group founder Richard Branson, has launched artificial intelligence that matches consumers with mortgages based on a complex analysis of their financial situation.
July 20
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Oil/gas services represent 13.2% of the pool of the sponsor's latest deal, up slightly from 12.8% in the prior deal. EFM has observed rising demand from these obligors in the past year, as the industry has somewhat stabilized.
July 20
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The $300 million issue is secured by receivables from inventory financing for 160 Volvo- and Mack-branded trucking and construction equipment dealers.
July 19
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The $455 million in bonds issued by the company just two months ago have sold off sharply, according to Kroll Bond Rating Agency, which is trying to reassure investors.
July 19
