CDOs

The unexpectedly strong pace of collateralized loan obligation issuance in April has prompted S&P Global Ratings to increase its forecast for the year as a whole.

First Key preps its second reperforming RMBS of the year; April CLO count reaches $29.8 billion; Toyota, Nissan file plans for notes backed by auto loans and dealer inventory financing.

The London office of Commerzbank AG Debt Fund Management is pricing its third overall CLO in a with a senior loan portfolio targeted at €346.2 million.

Bram Smith is retiring as executive director of the Loans Syndication & Trading Association effective at year’s end, the trade group announced Thursday. Smith has been with the LSTA for nine years, joining as interim executive director in September 2008 before he was installed as permanent ED in December 2009.

Fitch Ratings says the default rate for leveraged loans held by CLOs it rates remains "benign" at 0.4%, although slight concerns remain about bankruptcies looming defaults from speculative-grade debt held by key retail, media and energy sector firms.

Napier Park to issue 1st CLO of year; Moody's expects CLO refi activity to remain strong; S&P puts gobal corporate default tally for 2017 at 30, including 23 in the U.S.

Renovate America launches $268 million of bonds backed by Property Clean Energy Assessements; Calibur Home Loans returns with non-prime RMBS, and three more collateralized loan obligations refinance.

Managers of European collateralized loan obligations are under-reporting their exposure to loans that lack certain investor protections, according to Moody’s Investors Service.

Bayview Asset Management is bundling bonds that Fannie Mae and Freddie Mac use to transfer the credit risk of mortgages into collateral for new bonds.

A new Republican plan to streamline Dodd-Frank's capital rules, stress tests and many other requirements will be reintroduced in the coming weeks by House Financial Services Committee Chairman Jeb Hensarling.

The LSTA is lobbying the Trump administration to eliminate or modify risk-retention rules on CLOs, preferably through the quickest route possible: the SEC's rule enforcement authority.

CLO managers are wording the language of amendments used to refinance deals so as to be able to benefit if risk retention rules repealed.

Refinancing activity dominated the CLO market again in March, as some 50 deals totaling $20.5 billion repriced their securities.

The Office of the Comptroller of the Currency issued the directive following an interim examination.

Pine Brook, a private equity firm that specializes in financial services and energy sectors, has agreed to acquire Triumph Capital from Dallas-based Triumph Bancorp.

CLOs have significantly reduced their exposure to Ocean Rig, the offshore drilling contractor that announced a restructuring agreement Tuesday, according to Wells Fargo Securities.

Investcorp Credit Management EU is debuting its first European CLO since announcing its acquisition of the debt management business from 3I Group last October.

Competition for leveraged loans is tough, and that’s forcing some of the biggest buyers to tap new sources of financing.

The LSTA pointed to recent research reports noting that outsized exposure to certain troubled retail apparel and department stores has expanded for collateralized loan obligations.

Global distressed debt fund manager King Street Capital Management is issuing its first collateralized debt obligation ever.