Investments

The Loan Syndications and Trading Association alerts market participants to the challenges of term-SOFR transition before year-end.

High CLO volume stems partly from transactions whose refis or resets anticipated last year were deferred when spreads widened considerably amid the pandemic.

Ontario Teachers’ Pension Plan said equity gains helped offset fixed income and currency losses in the first half of the year.

Virtually the whole collateral pool will be comprised of senior secured loans, cash and eligible investments ultimately benefiting software, hotel and leisure.

What policy makers say about economic inequality at this month’s Jackson Hole symposium is potentially a bigger deal for bond investors than any taper talk.

Henry Brigham, Willis Hwang and David Knecht bring a combined 43 years of corporate trust experience to the Wilmington Trust team.

Similar to other CLOs, Golub 54 has a reinvestment period of four years, with a two-year non-callable period.

A new trend is emerging in the world of ESG as companies turn their attention to cleaning up old debt.

Issuers of leveraged loans appear ready to use SOFR, the popular alternative to LIBOR, putting leveraged loans a step ahead of the market.

Auto and credit card securitizations benefited from more rational consumer behavior, whole CLO issuance remained strong for both new issuance and refinancing deals.

Goldman Sachs Group and JPMorgan Chase are ditching safeguards on credit lines to CLO managers, to defend their market share as arrangers in the lucrative business.

Federal Reserve Chairman Jerome Powell said the market dislocations of the past year resulting from the pandemic had changed the impact that the supplementary leverage ratio was having on the largest banks. After temporarily easing the requirement, the central bank is considering longer-term reforms.

Texas is drawing battle lines in a fight against investors and companies turning their backs on fossil fuels.

Pre-permission to operate (PTO) loans will comprise 10 percent of the Mosaic 2021-2’s underlying collateral, a dramatic increase from the Mosaic 2021-1 deal.

Fitch says it will be weighing failures of management standards and practices at banks more heavily when considering possible downgrades. ESG advocates are cheering the development.

The 10-year Treasury yield fell below 1.5% for the first time in a month while the rate on the U.S. long bond dropped to a level unseen since early March.

Citigroup Global Markets is lead underwriter on the fourth issuance through Toyota’s ABS Green Bond program. The deal references two potential pools to be securitized.

The company provides a secondary market outlet for its retail and wholesale lending corporate sibling as well as for small balance commercial loans.

Investment Management Corp. of Ontario is investing $400 million to a customized portfolio, with the goal of capitalizing on Are’s all-weather approach, taking advantage of opportunistic dislocations and market inefficiencies. The remaining $100 million will be allocated to the flagship Ares Pathfinder fund.

Deals, trends and research in structured finance and asset-backed securities for the week of May 14-20