CDOs

CLOs are finding new fans from among the ranks of another kind of vehicle that invests in leveraged loans — business development companies (BDCs).

Resource Capital is putting together a CLO that may be completed in the fourth quarter.

TICC Capital, a business development company, has issued a $225 million CLO, its first, through a special purpose vehicle in which a wholly owned subsidiary owns all of the equity.

Barclays Capital promoted its head of European leveraged to cohead of EMEA leveraged finance, ASR sister publication Leveraged Finance News has confirmed.

A scholarship fund in Bingham McCutchen partner Edward Gainor’s memory has been established by the law firm at his alma mater The George Washington University (GWU) Law School. Gainor died July 22 of a heart attack.

The Loan Syndications and Trading Association (LSTA) today submitted to joint regulators a 20-page comment letter explaining why managers of Open Market CLOs are not subject to the risk retention provisions of the Dodd-Frank Act.

The debt ceiling compromise will bring some temporary relief to the securitization market, although the benefits will likely be short-lived.

At the recent American Securitization Forum (ASF) Sunset Seminar, panelists looked back at the first year of Dodd-Frank, saying regulators are still missing the bigger picture.

Europe's reenactment of last summer's sovereign debt crisis heated up as talks of a Greek debt default intensified once again this July.

Greek bailout talks intensified once again this July, a repeat in many ways of last summer's discussions. But structured finance issuance is taking it much harder this year, as Nora Colomer examines in the cover story. In July two actively marketed European securitizations were abruptly pulled when the market got too volatile. Other issuers went the retained route rather than face the risks associated with bringing new-issue deals to market.

Bank regulators expressed frustration July 27 over a little-noticed and initially uncontroversial provision of Dodd-Frank that forces them to eliminate references to credit ratings in most bank regulations.

Private equity firm Apollo Global Management is planning to raise a second publicly traded fund to invest in leveraged loans.

The slowly reviving CLO market is getting a boost from an unexpected source: one of the biggest financial blowups in history.

Is the Basel Committee on Banking Supervision building an effective set of capital rules, one that will accomplish the goal of competitive parity?

Lehman Brothers Holdings hopes to generate as much as $2 billion to repay creditors by securitizing a portfolio of commercial loans.

RBC Capital Markets has hired three bankers for loan capital markets and European sponsor coverage, according to the bank.

Citigroup has offered to buy the Dryden VI-Leveraged Loan CDO 2004.

The Financial Industry Regulatory Authority (FINRA) has issued an Investor Alert warning investors not to choose risky yet high-reward asset classes over more traditional investments.

The American Securitization Forum (ASF) released a statement today applauding the House Financial Services Committee’s approval of legislation aimed at stabilizing the ABS market.

Legislation is moving forward that would more definitively exempt rating agencies from a liability that shut down securitized markets at one point last year, according to an industry trade group.