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The €413.5 million BlackRock European CLO V is the fourth euro-denominated CLO to launch this month, and asset manager's first since BlackRock Euro CLO IV priced in November.

The transaction is backed by 6,857 loans with a total balance of $835 million, or roughly 13% of the $6.4 billion of commercial vehicle and equipment loans in Mercedes-Benz Financial Services USA.

The €413 million transaction will issue exchangeable notes for the five senior tranches, allowing regulated U.S. banks the opportunity to invest, even though the portfolio includes bonds.

It's the busiest start to the year, post-financial crisis, for collateralized loan obligations, according to Thomson Reuters, and nearly 60% higher than the pace set in the first two months of 2017.

Moody's thinks that the risk of early lease terminations is "marginal," since only 0.5% of the vehicles in the collateral pool are old enough to be impacted by bans in place in several European cities.

Citigroup plans to launch an online bank that will be marketed nationally. It is one of several large companies with an online bank or niche platform in operation or on the drawing board.

The real estate investment trust obtained a $1.35B mortgage from four banks on a portfolio of 38 properties in the U.S. and pledge of cash and insurance on another 12 in Puerto Rico.

Incenter Mortgage Advisors is putting up for bid a $712.8 million package of government-sponsored enterprise and Ginnie Mae mortgage servicing rights concentrated in the Southeast.

Avoca CLO V was issued only the second default rating of a subordinate global CLO in the last four years, the result of an unpaid subordinate tranche in an early deal liquidation by manager KKR.

Timothy Bowler, president of the ICE Benchmark Administration, which has been responsible for calculating the index since mid-2013, argues that there is a strong case for keeping it going.