Investments

The deal was constructed under Angel Oak’s social-bond framework, in which the firm intends to use the proceeds to help finance residential loans for underserved borrowers.

A lack of consensus regarding the eventual replacement for the London interbank offered rate could cause turbulence for CLOs in the fourth quarter, according Bank of America Corp. The benchmark is widely used across the sector and set to go away by June 2023 at the latest.

Deals, trends and research in structured finance and asset-backed securities for the week of May 7-13

Flatt said the combination of strong markets and asset sales means there’s enough capital on hand for its planned $6.5 billion privatization of Brookfield Property Partners LP, and the repurchase of its own shares, to soak up some of the new equity being issued in the transaction.

More opportunistic borrowers may come as investors continue to pour money into U.S. leveraged loan funds, which have seen the longest positive streak since 19 weeks between February and June 2018.

Deals, trends and research in structured finance and asset-backed securities for the week of April 30-May 6

The existential challenge distressed debt investors face may not be new after a decade of easy-money policies that encouraged companies to refinance debt at reduced costs. But the swift rebound from the depths of the pandemic has taken many by surprise.

The difference between yields on investment-grade debt and junk bonds doesn’t bode well. It’s a sign that leverage in the system is rising.

Outstanding middle-market U.S. collateralized loan obligations in the first quarter had a significantly reduced concentration of near-default loans being held in portfolios compared to year-end 2020

The greenhouse gas emissions associated with financial institutions’ investing, lending and underwriting activities are more than 700 times higher, on average, than their direct emissions, a report concludes.