CDOs

Morgan Stanley isn’t the only bank marketing a CLO this week; its competitors are shopping at least four other deals.

Two New York Senate Committee chairmen have raised the possibility of investigating bond insurer MBIA’s behavior in applying for a transformation of the company in 2008 and 2009.

Federal Deposit Insurance Corp. (FDIC) General Counsel Michael Krimminger will be leaving the agency later this month to join the law firm of Cleary Gottlieb Steen & Hamilton as a partner in its Washington, D.C., office.

Moody's Investors Service today commented on how it evaluates the effect of global and bank credit deterioration in Europe on structured finance securities.

Morgan Stanley is arranging a $470 million CLO for LCM Asset Management.

On the first day of a trial in a lawsuit brought by banks to undo bond insurer MBIA’s split into two companies, the judge made clear she wanted the proceedings to focus on legal rather than factual issues.

MJX Asset Management is planning what appears to be its first CLO since the financial crisis.

Assured Guaranty posted a small profit for the first quarter of 2012 and on Thursday announced a deal with Deutsche Bank over soured MBS.

MBIA lost more than a half billion dollars in the 1Q12. The company’s adjusted pre-tax loss was $548 million in the quarter, compared to a $25 million profit in the first quarter of 2011. Its adjusted book value slipped to $32 a share from $34.50.

Middle market CLOs have remained relatively scarce since the financial crisis, as it’s still difficult for deal sponsors to get financing to warehouse loans to small and medium-sized companies.

Mayer Brown has hired Barbara Goodstein as a partner in the banking and finance practice in New York. She was formerly a partner with Dewey & LeBoeuf.

A suit that started with over a dozen plaintiffs against MBIA is down to two after Natixis Financial Products withdrew from the suit Monday.

Moody's Investors Service has updated its structured finance CDO methodology. These deals' ratings consider the credit assessments of non-Moody's rated assets that are inferred from the ratings given by other rating agencies.

After the Maiden Lane III MAX CDO sale, last week roughly $1.5 billion face value of super-senior CDO bonds or the entire remaining balance of WAVE 2007-1 and 2007-2 A1s were put out for bid, according to JPMorgan Securities analysts reported.

NXT Capital priced the senior, 'AAA'-rated tranche of a $308 million CLO at Libor plus 190 basis points, the middle market lender said Thursday.

Silvermine Capital has appointed BNY Mellon Corporate Trust as trustee, collateral administrator, paying agent and calculation agent for its $450 million CLO.

The New York Federal Reserve today has started a competitive bid process in response to several strong reverse inquiries for holdings in the two Triaxx CDOs in its Maiden Lane III portfolio (ML III).

Citigroup is arranging a $350 million CLO for the U.S. investment arm of Dutch insurer Aegon.

Regulators still haven’t done enough to exempt some of the biggest buyers of corporate loans from onerous reporting requirements that go into effect next year.

While still a shadow of its former self, the bond insurance industry is showing signs of revival amid a pickup in issuance of deals backed by riskier assets.