Investments

The 240 note classes under review from 24 issuers include several already holding high-risk triple-C ratings.

The growing debate over CLOs is a key part of fund managers’ efforts to reposition as the Federal Reserve signals its intent to keep interest rates on hold for the foreseeable future.

A court victory in favor of plaintiffs could bring chaos to to capital flow for corporates, LSTA argues

CLO managers are again turning to an old tool, the combo note, to attract more investors for deals’ higher-risk equity stakes.

The carrier, through CLO management affiliate Park Avenue Institutional Investors, is bringing total AUM in senior loans to $1.65 billion.

After a decade of investing in distressed trust-preferred securities CDOs of small and regional banks, Hildene now sees non-distressed CLO equity as an inviting target.

A strong supply of nearly 10 billion euros ($11.2 billion) masks a market that is requiring arrangers and managers to work for less in order to price deals.

Freddie Mac will keep building on the financial reforms that produced profitability during conservatorship as broader government-sponsored enterprise proposals take shape, according to departing CEO Don Layton.

Fannie Mae is considering sharing more risk with the private sector to reduce future strain on its earnings from the implementation of the Current Expected Credit Loss accounting standard next year.

Five new-issue deals pricing Thursday pushed monthly primary CLO volume to $13.8 billion, with $43 billion year-to-date now 7% ahead of the new-deal output in the first four months of 2018.

The trio of malls collateralizing the new mortgage include two well-performing mall as well as a troubled Florida super-regional shopping center.

The $505 million Octagon Investment Partners 20-R will close before the assignment of any underlying loans, according to Moody's.

An industry working group might seek legislation to eliminate the need for investor consent in the shift to a new benchmark interest rate. But any legislative fix is almost certain to be challenged because choosing an alternative to Libor will inevitably favor one party in a transaction over another.

The manager's Sound Point Euro CLO 1 Funding DAC is the only deal so far in 2019 to be issued for a first-time issuer in the EU region.

The initial portfolio for the $601.7 million deal features high exposure to lower-rated single-B loans, though that will likely drop when it is fully ramped.

The transaction is the fourth by the New York-based affiliate of Hayfin Capital Management since its merger with the U.K. asset manager.

The residential mortgages being reinsured are less risky, by several measures, than its previous deal; none of the borrowers have ever missed a payment.

The $746.2 million PFP 2019-1's biggest exposure by property type is to multifamily, but the single largest asset is a $71 million portion of a mortgage on a Dallas office building.

Assured Guaranty indicated it is interested in reaching a deal on PREPA bonds rather than continuing its quest for a PREPA receiver.

Investors who do not consent to proposed changes in the terms of the $655.9 million Magnetite XXII must sell their bonds (at full par) to the money manager.