CLOs

The share of loans in Arbor's CLOs that failed to make a scheduled payment more than doubled in the fourth quarter, according to preliminary data compiled by Banco Santander SA.

The transaction is collateralized by at least 95% senior secured loans, cash, and eligible investments, S&P says.

Williams co-founded financial advisory and consulting firms Simatree and Galway Holdings, and is a retired NBA player and ESPN host.

A robust selection of securitized products, including ABS, CMBS, CLOs, and agency and non-agency MBS, will be included in the new fund.

In a rare glimpse into the opaque world of private credit, a recent review of credit "estimates" by S&P Global Ratings showed that the quality of debt extended by private lenders to dozens of companies whose loans are bundled into CLOs is deteriorating.

Lam, who oversees the firm's structured credit investment strategies, managed CLOs, separate accounts and commingled accounts. Lam succeeds Andrew Gordon, who will assume the role of executive chair of the board of managers.

A majority of the commercial real estate CLO's collateral has pari-passu participations, including 18 that have a related obligation for an unfunded future advance.

The bank recently hired Nikunj Gupta as head of credit structuring in order to strengthen its existing team. Gupta had previously headed up the European CLO primary business at Deutsche Bank.

Investments poised to do well include partially paid down collateralized loan obligations, which are backed by loans taken out by highly indebted corporations, called leveraged loans.

The sponsor's assets favor software companies, and the deal brings its total CLO assets under management to $2.2 billion.

CLOs are turning to another type of debt — junk bonds — for the security packages that underpin the investment vehicles that are sold to insurers and pension funds.

The SEC could crimp effective investor communications, while IOSCO seeks feedback on 12 proposed "good practices" when operating in the leveraged loan and CLO markets.

Regional banks may soon favor CLOs again while proposed rules could draw banks to the market long-term.

Twenty-five years after its first CLO, Barings' securitizes its 100th transaction, this time securitizing middle-market private credit.

More than $4 billion of collateralized loan obligations on commercial real estate received a modification in the three-month period, compared with about $1 billion in the first quarter

Par subordination on the 'AAA'-rated notes was 39.95%, while par subordination on the 'BBB' notes are expected to be 14.36%.

An industry organization is relieved as the regulators extend an exemption to CLOs, but they remain vigilant for how the new order will ripple through the market.

Looking to insurers for growth, the asset managers seek NAIC look-through to lower risk-based capital.

That's pushed secondary leveraged loan prices near highs not seen in months as investors flush with cash seek out supply, leading borrowers to stream into both loan and junk bond markets.

The notice is a precursor to a reset deal, a type of refinancing that can extend the life of CLOs for years.