In last week's ASR, the issuer of the Saratoga arbitrage cashflow CDO (p. 5) was identified as the Denver-based INVESCO. The full name of the issuer on the $300 million Saratoga arb fund is Invesco Senior Secured Management Inc. Based in New York, the issuer is a unit of Atlanta-based INVESCO Inc., the institutional investment management arm of London-based AMVESCAP plc., which also owns private equity manager INVESCO Funds Group Inc. In the same issue, ABN Amro was misidentified as the co-lead, along with CitiBank, on the SIV named Tango. Rabobank should have been identified as CitiBank's co-lead on this deal.
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Broken down by product type, the agency's NJCLASS Standard Fixed product should account for a large majority of the loans, 75.4%. NJCLASS Consolidation will account for the next-largest group, 14.1%.
10h ago -
The notes will price against Treasurys, with spreads expected to fall between 85 and 90 basis points over the benchmark.
April 24 -
The JPMorgan Chase CEO took aim Tuesday at the proposed Basel III endgame rules, hindrances to mergers and bureaucratic burdens. "I would love to have a more productive relationship with regulators, but I think it takes conversation," Dimon said.
April 24 -
Bluegreen Vacation originated the loans and Fitch expressed confidence in its record of good performance as servicer.
April 23 -
Many legal experts think the Supreme Court will rule in favor of the Consumer Financial Protection Bureau in a case challenging its funding. Such a ruling would unleash a flurry of litigation that has been on hold pending the outcome of the constitutional challenge.
April 23 -
Lendbuzz sells the notes as it juggles mixed performance results from 2023. Originations and revenues saw huge jumps, but so did operating expenses.
April 23