Europe

King Street's new CLO is the first European deal rated by Moody’s to fail to meet all the portfolio requirements at this milestone.

Four transactions from three managers, Alcentra, Barings and Bardin Hill, showed a breach of one or more of their so-called over-collateralization tests based on May filings.

In the last two quarters of 2019, according to Fitch Ratings, more U.S. managers of collateralized loan obligations (CLOs) had been structuring some of their transactions to comply with risk-retention rules.

Royal Bank of Scotland Group Plc is pressing ahead with its restructuring plan, trimming its securitized credit team in London even as many of its peers halt job cuts amid the chaos caused by the coronavirus outbreak.

A leading law firm in The Netherlands is mulling an appeal against the Dutch authorities’ decision to charge VAT on the management fees of collateralized loan obligations.

Collateralized loan obligations in Europe are running low on fuel, prompting some investors to seek greater protection that may slow the market even further.

CBAM Partners announced the hiring away from AXA Investment Managers an executive with significant experience in the CLO and European debt markets to assist in the launch of its European credit strategies business.

The Italian bank is reportedly close to completing the sale to Cerberus Capital Management, Bank of America and Illimity Bank SpA.

Revisions to S&P's CLO ratings methadology and Kroll's launch into rating European CLOs could challenge Moody's as the first choice for managers across the pond.

A Moody's report highlights the regional CLO market differences becoming more crucial to global investors who analysts say want to better discern variances in each market's standards and performance.

One of the most active investors in Europe’s CLO market may be about to test the loyalty of the managers that provide it with triple-A paper by asking for a higher spread.

Shawbrook's debut securitization of "buy-to-let" mortgages issued to UK landlords will pay coupons based on the sterling-based overnight index average benchmark, rather than Libor.

Brian T. Yorke's duties will include oversight of a newly launched CLO platform for Ostrum's U.S. advisor affiliate.

After a slow takeoff in the first quarter, a third aircraft lease securitization has launched since April through a debut offering from six-year-old fleet management firm Goshawk Management.

A quarterly IACPM survey shows far fewer credit managers planning for widening spreads this spring, staving off concerns for now of deteriorating credit conditions and macroeconomic troubles.

The manager's Sound Point Euro CLO 1 Funding DAC is the only deal so far in 2019 to be issued for a first-time issuer in the EU region.

The €249 million Taurus 019-1 FR is backed by a single loan from Bank of America on a portfolio of 206 mixed-use properties leased to French electric utility EDF.

Nick Robinson, a 15-year Milbank veteran in advising CLO arrangers, managers and investors, joins as a partner in the New York office of the London-based firm.

With an expected March 20 closing, BMW's next lease securitization brings first-quarter deal volume to $6.5 billion, the highest three-month total in four years.

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.