Investments

Carlyle has raised an additional $800 million for "opportunistic" debt and equity investments of third-party CLOs, in a planned expansion of its $19.4B in structured credit business assets under management.

Fannie Mae's serious delinquency rate climbed to a high not seen since March 2017, but remained lower than it was 12 months prior.

AXA Investment Advisors' two primary-issue CLOs in 2017 were each priced within the past month.

Many raised large amounts of capital to put to work in the equity, or riskiest slices of their deals, allowing them to resume issuing new deals just as new loan issuance was taking off.

Exposure to PetSmart's now triple-C rated loan will strain the distressed debt limits of 24 collateralized loan obligations, while two other deals face potential interest-diversion test failures.

Banking regulatory agencies Thursday announced that they would raise the aggregate loan commitment threshold for syndicated loans to be included in the Shared National Credit program from $20 million to $100 million.

Only 2.6% of speculative-grade rated firms with public financials carry Moody's weakest liquidity rating, a drastic reduction since March 2016, helped by a recovery in the oil and gas sector.

Bridgeview, Illinois is the second Illinois home rule community to take advantage of new borrowing program.

The collateralized loan obligation market is ending the year at nearly full throttle with nearly $18 billion in new deal/refi volume month-to-date, with more on the way.

The first refinancing, in January, was primarily intended to extend the life of the post-reinvestment period deal; this time, the manager is also lowering the interest paid.

The Railsplitter Tobacco Settlement Authority will price a $679 million current and advance refunding of tobacco bonds.

The council is exploring legislation to collect around $492 million in delinquent real estate taxes that could aid the city’s school district.

Lee Shaiman, who oversaw $20 billion in leveraged finance and other fixed-income investments at Blackstone, will succeed Bram Smith. who announced his retirement in early 2017.

The collateralized loan obligation manager launched a fifth 2017 U.S. deal totaling $510 million, while its European subsidiary is preparing a third transaction totaling €400 million.

HUD's decision to stop endorsing Property Assessed Clean Energy will have little impact; the widest segment of FHA borrowers "would not qualify anyway."

The $12.9 billion in collateralized loan obligations issued last month brings the 11-month total to $108 billion, just shy of the 2014 record of $124 billion.

Farmer Mac has terminated President and CEO Timothy Buzby for violating company policies not related to its financial and business performance.

A $92 million portion of $194.4 million mortgage on a portfolio of 36 ExtraSpace Self Storage locations is the largest of 42 loans backed backing MSC 2017-HR2.

Three broadly syndicated deals printed in December have senior, AAA-rated tranches that pay just 107 basis points over Libor - the lowest coupon of the year.

The deal, BXMT 2017-FL1 weighs in at $1 billion, making it more than twice as large as most CRE-CLOs issued this year; its size isn't the only unusual feature, however.