Investments

Tobacco-industry loans are rare assets for CLOs, but Sound Point is ensuring none will go into its CLO XII portfolio for the remaining 20-month reinvestment period.

Arch Capital’s next offering of credit risk transfer notes features heavy exposure to residential mortgages that have been modified by Fannie Mae or Freddie Mac.

From financing driverless cars to dealing with Libor's demise, here are the highlights from the Structured Finance Industry Group's annual conference.

Concerns about risks in the leveraged loan market, as well as the potential impact of new capital rules for Japanese banks, continue to weigh on collateralized loan obligations.

Credit risk transfer does more than just reduce exposure to a downturn in the housing market. It also provides them with information about how others view mortgage credit risk.

Not every tranche of notes originally issued by ALM XIX has been upsized by the same amount; in fact, some of the lower-rated tranches have been cut in size.

Expect even more actively managed CRE CLOs to be issued this year as investors get more comfortable with the idea of managers using proceeds from the repayment of collateral to acquire new bridge loan.

The €400 million RRE 1 Loan Management DAC has a 4.5-year reinvestment period and two-year non-callable period, according to presale reports.

The selloff in the CLO market in the fourth quarter of last year may have caused Eagle Point Credit Co. some short-term pain, but the closed-end investment firm expects to profit from it in the long term.

The partnership with Hallows HalseyPoint to step up the pace of recruitment of analysts and traders and open a warehouse line for loan accumulation by the end of May.

OHA Credit Funding 2 offers nine classes of fixed- and floating-rate notes backed by corporate senior loans, including a rare tranche of single-B rated notes.

New Residential priced its second stock offering in four months, looking for gross proceeds of nearly $665 million.

HomeStreet Bank will attempt to sell its stand-alone mortgage business and portfolio of servicing rights, a move that comes amid growing pressure from an activist investor to exit home lending and concerns about declining demand and regulatory challenges.

Octagon Investor Partners 40 limits “covenant-lite” loans to 60% of its portfolio, below the 65% cap on it's previous new-issue deal completed in November.

Although mostly active as a middle-market CLO manager, asset manager Golub Capital is printing a new open-market CLO sourced by its large-corporate loan investments.

The global insurance firm, which operates a three-year-old CLO management affiliate, has now launched private credit unit that will pursue controlling interests in deals managed by others.

Howard Goldwasser and Skanthan Vivekananda will be based in New York and Los Angeles, respectively.

Golub Capital BDC has also obtained shareholder approval to boost leverage, but David Golub said this was designed to give the middle-market lender more flexibility.

The firm founded by mortgage veteran Michael Vranos looks for leveraged loans it considers "misrated" with strong covenants; many of these loans also amortize relatively quickly.

The 131 basis-point spread for Buckhorn Park CLO is 14 basis points wider than Blackstone's previous deal in November, but in line with peer deals from recent weeks.