Finance

The owner of the MacArthur Center Mall in Norfolk, Va., has defaulted on a $750 million loan which includes the property as collateral.

PE firms have made investments in only seven banks in 2019, compared with 21 last year. Here's what's driving the slowdown.

DBRS Morningstar's presale report raises concerns that the securitized loan for Onni Group's Wilshire Courtyard faces considerable risks from the business volatility of its largest tenant.

The state has proposed a law to cap the interest rate on certain consumer loans, but nonbanks aim to skirt it by seeking a rent-a-charter.

The Financial Stability Board's report, released on Thursday, falls short of any lofty expectations to clarify risks within leveraged loans and CLOs. If anything, it may only amplify the paranoia around the asset class.

The $458.87 million HalseyPoint CLO1, via JPMorgan, is the first deal by the firm that was launched in May 2018 by two former Columbia Asset Management portfolio managers.

Fitch may use a new Structured Finance Association framework aimed at prioritizing only riskier TRID errors to assign grades to loans sold into residential mortgage-backed securities, reducing rating-related compliance burdens.

EJF will market $328.9 million in bonds backed by a pool of TruPS, senior notes and surplus notes that have been issued by both rated and unrated community bank institutions and insurance companies.

Freddie Mac launched a groundbreaking multifamily structured pass-through deal that includes a class of floating rate bonds indexed to the Secured Overnight Financing Rate for the first time ever.

Fitch’s list of loans with growing risks of downgrades reached $110 billion in December, up 53% year-to-date.

JPMorgan Chase & Co.’s asset management arm is extending a push into the $787 billion private credit market as cash pours into the asset class from yield-hungry investors.

The 52-story structure designed by postmodern architect Philip Johnson is backing a portion of a loan to Beacon Capital Partners for a cash-out refinancing of existing debt.

Along with an Aaa from Moody's, Nelnet's latest FFELP securitization received an infrequent AAA rating from S&P after providing additional cushion against collateral losses for the senior-most notes.

Blackstone Real Estate Partners is planning a $1.7 billion bond sale secured by a commercial mortgage loan that financed its newly acquired controlling interests in Great Wolf Lodge waterpark entertainment resort properties.

REIT Paramount Group is getting a $140M equity pay-out in a debt refinancing for the noted Broadway Theater district office tower, home to the Gershwin Theater and several prominent tenants.

The city is folding together separate syndicate and advisor teams on $1.2 billion of general obligation and Sales Tax Securitization Corp. refunding deals.

Family offices—mini-investment firms set up by the super rich to manage their personal wealth—have poured more and more cash into direct lending, Preqin says.

First Eagle, with $99 billion AUM, will expand its presence in structured finance-based direct lending to middle-market firms through the acquisition by uniting the two firms’ credit-business platforms, according to a release.

The agency’s semiannual report warned institutions to be mindful of operational risks from the innovation in core banking systems, and detailed supervisory steps to monitor the adoption of a new reference rate.

While undeterred from the market, CLO investors may be skittish enough over price volatility and quality in loans to be more discerning of which managers' BB notes they'll take on.