Europe

The majority of the collateral for Finsbury 2019-1 was originated over the past year, but it includes some loans from a 2016 deal that has been called; some of these older loans are delinquent.

The €400 million RRE 1 Loan Management DAC has a 4.5-year reinvestment period and two-year non-callable period, according to presale reports.

Some 35% of vehicles backing Driver UK Master Compartment 5 have diesel engines; presale reports do not indicate the percentage that meet more stringent EU emission standards.

The rating agency has developed rating criteria for bonds backed by oil and gas royalties, though such deals would be capped at the 'A' rating category.

A top official at the Office of the Superintendent of Financial Institutions defended tougher underwriting rules blamed recently for a slump in the nation’s housing market, but left open the possibility that regulations could ease if conditions change.

They join Blackstone/GSO, PGIM, Credit Suisse, Guggenheim Securities and the Carlyle Group in reopening a new-issue market that was dormant in December.

At least 50% of the U.S. dollar-denominated fund's investments will be in triple-B tranches of U.S. and European CLOs.

Guggenheim, Carlyle Group, Credit Suisse and Blackstone have launched four deals totaling €1.74 billion, all with AAA spreads of at least 100 basis points over Euribor.

Cadogan Square CLO XIII DAC will be Credit Suisse Asset Management's fourth euro-denominated CLO issued in the past 12 months.

The Japan Financial Services Agency is considering increasing capital requirements for holdings of securitizations if the sponsors do not have "skin in game."

S&P sees some potential integration risk that could materially affect the business being reinsured; in November it lowered its issuer credit ratings and financial strength ratings on Aetna.

David Klass is known for his insights into tax developments in the U.K. related to Brexit; he joins the firm after more than a decade at Gide Loyrette Nouel.

The global asset manager is sponsoring its first post-crisis CLO in a €409.8 million transaction that priced through Barclays on Monday.

A Wells Fargo report this week shows that market spreads for the triple-A notes backed by collateralized loan obligation assets are at 128, a level not seen since May 2017.

The €350 million Providus CLO II is backed exclusively by loans to mid-market firms that meet the private equity firm's sustainability criteria; at closing, 90% of the collateral has been identified.

Stricter energy regulations for European residential and commercial buildings, effective in 2020, will likely depress cash flow and property values, though the impact will vary by country, according to Moody's Investors Service.

Carlyle Aviation Capital's AASET 2016-1 and ACG-affiliated Merlin 2016-1 each have a single aircraft on lease to Small Planet, according to Deutsche Bank Securities.

The transaction has a senior-note tranche with a double-A rating from DBRs, and is being arranged by Banco Santander.

BSREP International, an entity controlled by Brookfield, obtained a £367.5 million mortgage and £91.9 million of mezzanine debt on CityPoint from Morgan Stanley.

The transaction, Quarzo S.r.l. – Series 2018, is backed by 104,640 accounts with an average outstanding balance of €8,600 and an average interest rate of 9.1%. The loans have original average terms of 61.9 months, with 4.8 months of seasoning.