CDOs

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.

Lloyds Bank TSB is marketing bonds backed by ₤1.2 billion ($1.92 billion) of loans to small and medium sized businesses.

Friday's European bank stress tests revealed that all securitization positions in European banking and trading books were stressed, according to market reports.

Global issuance of CLOs is at $5.0 billion via 13 deals for the year to date through July 15, according to Dealogic.

Mutual funds that invest in leveraged loans may be pulling in less new money, but banks themselves have been picking up the slack in lending, putting them in competition with institutional investors and contributing to the general froth in the market.

Consolidation among CLO managers, underway since the financial crisis, shows no signs of slowing even as issuance of these structured investment vehicles starts to recover.

MBIA Insurance Corp. voluntarily dismissed with prejudice its case against Bank of America Merrill Lynch, prompting analysts to speculate that a settlement could be reached soon.

BlueMountain Capital Management LLC is in the market with a $361 million collateralized loan obligation.

RBC Capital Markets has added a cohead of U.S. loan capital markets, the firm said.

GreensLedge Capital Markets has appointed Ken Wormser and David Powar as managing partners at the firm. Wil Fischer, Ninat Lekagul, and Aimee Means will also join the firm as managing directors, with Mark David, Naz Majidi, and Craig Reckin being named directors at GreensLedge.

Apollo Global Management and its subsidiaries bought Gulf Stream Asset Management, which now manages 10 CLOs and has over $3 billion in assets under management.