U.S. ABS Issuance Dropped 3% in 2013
U.S. ABS securitization issuance was $180 billion in 2013, down 3% from 2012, according to Thomson Reuters data.
CDOs
CLO Managers Take Their Buzzer Shots
First-time collateralized loan obligation managers entered the game in droves in 2013, and participants expect the trend to continue in 2014, even if risk-retention regulation will make it more difficult for smaller firms to keep playing.
CLOs Breathe Easier on Volcker Rule
The final version allows banks to own and lend money to collateralized loan obligations backed exclusively by loans, though they may have to sell holdings of deals backed by bonds or other securities.
S&P: Medium-Term CLO Pipeline at $14.8B
Issuers had engaged Standard & Poors to rate 32 collateralized loan obligations totaling $14.8 billion as of Nov. 29.
Vichara Teams with Markit on Pricing Service
Vichara Technologies is collaborating with Markit to allow mutual clients to access Markits pricing service within Vicharas platform.
Wells Fargo Sees 2014 US CLO Issuance at $60B
Wells Fargo expects U.S. issuance of collateralized loan obligations to moderate in 2014, to $60 billion, partly as the result of regulations that make it less attractive to manage or own these securities
CLO Triple-As Still Calling the Shots
The limited number of buyers able to write big tickets allows them players to dictate terms.
CLO Triple-As Still Calling the Shots
The limited number of buyers able to write big tickets allows them players to dictate terms.
Lewtan Launches European Loan-Level Data Service
Data provider Lewtan has launched a service that provides information about loans used as collateral for European residential mortgage-backed securities and securitizations of loans to small and medium-sized enterprises.
Barclays Sees US CLO Issuance at $75-80B in 2014
Barclays expects issuance of collateralized loan obligations in 2014 to be similar to this years total, in the range of $75 billion to $80 billion.
NXT Expands Direct Originations Team by Three
NXT Capital, a midldle market lender and CLO manager, has expanded its direct originations team by hiring Doug Vitek, John Mills and Daniel Green.
Moody’s: 11 Euro CLOs Ripe for Redemption
A number (11) of European CLOs issued before the financial crisis are ripe for redemption, and this could free up loans to be used as collateral in new deals, according to Moodys Investors Service.
Carlyle Group Closes Sixth CLO of 2013
The Carlyle Group said today it has closed a $415 million collateralized loan obligation, its sixth CLO of 2013.
Wells: Middle Market CLO Issuance $4.9B YTD
So far this year, securitization of loans to small and medium-sized companies totals $4.9 billion, according to Wells Fargo.
New York Investment Mgmt Preps $409M CLO
New York Life Investment Management is preparing to issue a $409 million collateralized loan obligation called Flatiron CLO 2013-1, according to a presale report from Fitch Ratings.
LSTA: Exempt “Qualified” Loans from Risk-Retention
The Loan Syndications and Trading Association is asking regulator to recognize a category of higher quality leveraged loans that would not be subject to proposed risk retention rules.
Madison Park is Top-Perfoming CLO in 2005 Vintage
In the third quarter, seven of the 15 top-performing “legacy” CLOs rated by Moody's Investor Service were managed by Credit Suisse Asset Management.
ASR News Update
This weeks newscast from ASR covers Shellpoint Partner’s decision to scap its second private-label RMBS, deleveraging by European CLOs, and spread widening in U.S. new-issue CLOs.
S&P: Regs to Shape Future of Euro ABS
The final scope of regulations governing securitization in Europe will shape the future of the industry, according to a report released today by Standard & Poor’s.
Euro CLOs Deleveraging Faster than Expected
European collateralized loan obligations are deleveraging more rapidly than might be expected after their reinvestment period ends, according to Fitch Ratings.
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