CDOs

It can be a more efficient way to raise regulatory capital than relying solely on equity, but lenders that securitize this debt have struggled to get the market back off the ground.

While banking regulators are currently looking the other way when corporate debt packages exceed 6.0 leverage, that could easily change under a new administration or Congress.

A conflict between risk retention rules and prohibitions against self-dealing were limiting options for some lenders to hold skin in the game; a no-action letter issued to Golub Capital creates a "clear path" to compliance.

Tetragon Credit Income Partners is considering a move outside its niche CLO equity investment strategy in expanding its portfolio management team.

The Boston-based firm has refinanced two existing deals within the last 10 months, but hasn't printed a new deal since October 2015, well before U.S. risk retention rules took effect.

The deal will be managed through its BDC, which formed a joint venture last December to fund PE-sponsored firms with unitranche corporate loans.

The deal, which Fitch did not name in its report, appears to be VCO CLO 2018-1. The agency said the transaction might not even merit a single-A rating, given the high single-sector concentration.

J.P. Morgan Asset Management is not disclosing why it is retiring the $1B Palm Lane Credit Opportunities Fund; the fund was previously being considered for a spinoff.

TCI Capital assigned two CLO deals totaling $1 billion that it was managing for Columbia Management Investment Advisers, after Columbia resigned its subadvisory role.

Collateralized loan obligations denominated in pounds sterling were once a tough sell; two recent deals from Barclays and PGIM indicate that this is changing.