Investments

Deals, trends and research in structured finance and asset-backed securities for the week of Feb. 26-March 4

At least four leveraged loan issuers came to market with deals that included “Revlon clawback language” in credit documents in recent weeks.

Ares Management is among five issuers to have sponsored CRE CLO transactions so far in 2021; Starwood REIT's collateral advisor has also launched a CDO for project finance and corporate infrastructure loans.

Deals, trends and research in structured finance and asset-backed securities for the week of Feb. 19-25

Companies most impacted by the economic crisis have seen their borrowings, including leveraged loans, considered “non-pass,” rise to 29.5% in last year’s third quarter from 13.5% in the same period a year earlier.

Just over 12 billion euros ($14.6 billion) of new issue, refi and reset paper has priced so far this year, surpassing a previous high of 7.3 billion euros in the first two months of 2018.

New York-based Briarcliffe will provide fundraising services to existing asset managers looking to raise as much as $1.5 billion

The $16.9 billion in issuance marked the biggest annual number seen since the government-sponsored enterprise reconstituted its risk sharing program in 2013.

Firms are moving money into loans and notes that offer floating interest rates. Unlike the fixed payments on most conventional bonds, those on floating-rate debt go up as benchmark rates do, helping preserve their value.

Deals, trends and research in structured finance and asset-backed securities for the week of Feb. 12-18

After they reopened on Tuesday, Treasury 10-year yields rose four basis points to touch 1.25% — the highest since last March — while the 30-year equivalent pushed above 2%.

Neuberger Berman’s new CLO will map credits to UN targets that aim to drive international progress toward action on climate, equality and poverty by 2030.

The best mortgage bonds to buy now may be the ones the Federal Reserve is purchasing, because the securities might benefit the most if macro optimism fades.

Deals, trends and research in structured finance and asset-backed securities for the week of Feb. 5-11

The rise in sales comes as risk premiums for new transactions have tightened to pre-pandemic levels, marking a stark turnaround in a sector with heavy exposure to company bankruptcies caused by the lockdowns.

Deals, trends and research in structured finance and asset-backed securities for the week of Jan.29-Feb. 4

The deal definitively ends a monthslong war of words between the data provider and stakeholders who attempted a hostile takeover.

A consensual deal cuts legal costs and hastens a Chapter 11 exit, but plans block possible restructuring proposals that can curb cash payouts to lower-ranking creditors.

Environmental, social and governance issues topped the list of risk managers’ concerns in a Deloitte poll .

AMC and American Airlines took advantage of surprise stock-price surges to cash out shares and raise liquidity for possible debt reduction — a massive stroke of good fortune for the companies as well as their creditors.