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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.

Tikehau CLO IV B.V. will control €400 million (UA$466.5 million) in mostly European leveraged loans and high-yield bonds (with an allowance for up to 25% of non-euro-denominated assets), according to Fitch Ratings.

The 1,210-loans backing Gemgarto 2018-1 all finance owner-occupied loans, and none rely on self-certified or "fast-track" loans, according to presale reports from Moody's Investors Service and DBRS.

The €414.2 million CVC Cordatus Loan Fund XI will issue exchangeable shares for four classes of notes; this allows the fund to hold bonds without putting itself off-limits to U.S. banks.

In the U.S., the 12-month trailing default rate fell to 3.4% in June from 4% in March, while in Europe it declined to 2.2% from 2.8% over the quarter. Globally, defaults stood at 2.9%, down from 3.4% in the first quarter.

Virginia National will set aside up to $950,000 to cover losses after ReliaMax, a firm that issues surety bonds for student loans, was placed into liquidation.

Annisa CLO was originally issued in August 2016, just before risk retention regulation took effect, but was the firm's first deal to be dually compliant with both U.S. rules (which no longer apply to CLOs) and European rules.

The deal is designed to improve capital ratios and reduce risk at the Seattle company.

Nelnet’s planned bank would be an online enterprise focused on gathering deposits and making private student loans.

Bavarian Sky UK 2 plc is as yet unsized; the collateral will initially consist of 70% new and 30% used primarily BWM and MINI vehicles, 56% of which use diesel fuel, according to Moody's Investors Service.

Credit reporting firms with significant operations in New York will face new cybersecurity and registration requirements to stave off concerns related to a breach of Equifax's systems last year.

It's another example of what appears to be tailoring tranches to meet the tenor and yield requirements of specific investors; the deal, GMS Euro CLO 2014-1, was also upsized to €508 million from €368.3 million originally.

Five classes of notes will be issued in the transaction, BBVA Consumer Auto 2018-1, which is backed by a pool of well-seasoned loans on new and used cars that will revolve for an initial period of 1.5 years.

The Dallas-based money manager has launched a UCITS that invests in both U.S. and European loans, investment-grade CLO securities, and obligations and other kinds of structured products.

The $52 billion in year-to-date volume in resets of collateralized loan obligations is nearly outpacing new-paper issuance of $53.5 billion, reports LPC.

Blame the decline in the oil and gas industry; many 2014 vintage deals have exposure to a number of multifamily and hotel properties in North Dakota and Texas, according to Fitch.

The subprime lender could lose a big partner now that Fiat Chrysler has officially announced it will form its own auto finance unit, and the two are negotiating an end to their 6-year-old relationship.

There are almost 7 million coastal homes facing more than $1.6 trillion in potential storm-surge reconstruction expenses this year, representing a 6.6% cost increase from last year's hurricane season.

Noria 2018-1 is a €1.6 billion securitization of unsecured personal loans, of which 30% are debt consolidation accounts.

The as-yet unsized Volta VI is backed by a tariff on all users of electricity in the nation; it is designed to help EDP, the largest utility, recover the costs of supporting renewable electricity.