CDOs

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are wording the language of amendments used to refinance deals so as to be able to benefit if risk retention rules repealed.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

Presale reports were issued Monday for the $407.35 million Wellfleet CLO 201-1 and the $406.35 million NXT Capital CLO 2017-1; the two deals are the latest of four new offerings noted by ratings agencies since last week and among 14 this month.

Collateralized loan obligations are in such high demand that investors are increasingly willing to allow managers to actively manage portfolios for longer periods.

Spire Partners priced the first new Euro-denominated CLO deal for March, the €348 million Aurium CLO III last week, according to a report published Monday by Moody's Investors Service.

The monthly change for defaulted holdings in CLO 2.0s – which now comprise 95% of the market for outstanding CLO issues – rose 0.1% and now stand at 0.12%. The rate for CLO 1.0s rate 0.12%, now standing at 3.13%.

The $609.6 million GoldenTree Loan Management US CLO 1 is the first broadly syndicated loan offering from a new collateralized loan management asset firm that was launched in January after entering into a services agreement with GoldenTree Asset Management.

EJF Capital is preparing a collateralized debt obligation backed by securities intended to help small banks and insurance companies raise capital.

Barings U.K. is serving as manager for a new collateralized loan obligation warehouse funding structure that will have a target notional value of between €320-€400 million (US$338-$422.8 million), according to a report from bond rating agency DBRS.

U.S. CLO new issue bounced back in February with 15 deals coming to market for a combined total of $8.1 billion, according to Thomson Reuters LPC.

PGIM is placing its first collateralized loan obligation offering of the year with an tilt toward lower-quality credits, as well as deferred interest across a large segment across the subordinate tranches of the $612 million transaction.

Securitization pros compared notes on regulatory compliance and learned about the risks and rewards of fintech; here are the highlights of the Structured Finance Industry Group;s annual confab.