CDOs

Eversheds has appointed structured finance and derivatives lawyer Kingsley Ong as partner in its Hong Kong banking and finance team.

Though the Basel II process to write new international capital standards lingered for nearly a decade, its successor has come a remarkably long way in just the past year.

Recent attacks on securitization have centered on its legal soundness.

When a prominent investment banker recently predicted another 300 banks would fail from wounds inflicted during the financial crisis, some investors in trust-preferred securities hailed his comments as good news.

Leveraged loan issuance doubled in 2010 and is expected to continue at a healthy pace in 2011, according to a report published by Bloomberg today.

Stagnant insurance laws that don’t allow for needed innovation are preventing a revival of the bond insurance industry, according to executives from the BondFactor Co. start-up.

Pramerica Investment Management is assuming management of a CLO previously overseen by Aladdin Capital Management UK, according to a Moody’s Investors Service report.

Standard & Poor’s downgraded MBIA and its two principal bond insurer subsidiaries on Wednesday, citing new methodologies for assessing RMBS.

Resource America's subsidiary Resource Europe Management sold the management contract of Resource Europe CLO I B.V., a €300 million ($392.74 million) CLO. The sale was made to an affiliate of Intermediate Capital Group (ICG).

The volume of new CLOs may triple the level reached in 2010, according to a Wells Fargo analyst.

New capital requirements under the Basel III framework would have cost banks roughly $770 billion had they been fully implemented at the end of last year, according to a 32-page study released Thursday by the Basel Committee on Banking Supervision.

Bank of America Merrill Lynch is preparing a $402 million CLO to be managed by Ares Management, according to Bloomberg.

Moody's Investors Service has assigned a provisional rating to two classes of Notes issued under the €520 million ($692 million) small- and medium-sized enterprise (SME)CDO dubbed FTPYME TDA CAM 9, FTA.

SL Green Realty Corp. and Gramercy Capital Corp. agreed that SL Green will purchase investments from Gramercy for a $390.8 million aggregate price, including the assumption of $265.6 million in debt.

ABS market players have certainly learned their lesson from the problems that led to the financial crisis.

The Securities and Exchange Commission (SEC) put on hold one change that could have shuttered the ABS market starting in early January. But a long line of proposals marching into 2011 will keep ABS compliance departments busy and, in some cases, may fundamentally alter the market.

Standard Chartered Bank has completed its sixth CLO under its START CLO program called START VI CLO, according to a release from the firm.

Primus Guaranty completed the sale of its third-party asset management subsidiary CypressTree Investment Management to Commercial Industrial Finance Corp. (CIFC). Terms of the transaction were not disclosed.

The Bank of England issued a market notice indicating that it plans to move ahead with new disclosure requirements, according to a Reuters report.

Law firm Nixon Peabody has named veteran partner Craig Mills as head of its global finance practice, which it plans to expand, the firm said today.