Fitch Warns on Forex Risk in CLO 2.0
The latest generation of European CLOs may expose investors to a risk that didn’t exist in most collateralized loan obligations issued before the financial crisis: fluctuations in foreign exchange rates.
CDOs
Deutsche Markets $500M CLO for WAMCO
Deutsche Bank is marketing a $500 million collateralized obligation for Western Asset Management that includes a delayed-draw tranche of notes.
EBA Consultation Paper Threatens Euro CLOs
On Tuesday, the European Banking Authority (EBA) published a consultation paper would seem to threaten the recent revival of the European CLO market.
BlackRock Re-Prices 2 Classes of BMI CLO I
BlackRock Financial Management has re-priced two classes of a $366 million collateralized loan obligation, according to Standard & Poor’s.
Fitch Warns on Forex Risk in European CLOs
The latest generation of European CLOs may expose investors to a risk that didn’t exist in most pre-crisis deals: fluctuations in foreign exchange rates.
S&P: Beware of Extension Risk in Older Euro CLOs
Loan extensions create risks for investors in older European collateralized loan obligations.
Blackstone/GSO Marketing €403M European CLO
Blackstone/GSO Debt Funds is marketing a €403.55 million collateralized loan obligation, the region's third since the financial crisis.
Cantor Bulks Up on CLOs in U.S., Europe
Cantor Fitzgerald said today it has added four structured credit professionals and is planning expand the business to underwrite new collateralized loan obligations in the U.S. and Europe.
SEC Panel: Kroll, Hughes Back Ratings Rotation
Ratings rotation was advocated by some panelists at a talk a convened by the Securities and Exchange Commission on a credit rating assignment system as envisaged by Section 939F of the Dodd-Frank Act, also known as the Franken Amendment.
SEC Panel: Imamura Rejects Ratings Assignment
A range of voices in the structured finance industry spoke against a credit rating assignment system as envisaged by Section 939F of the Dodd-Frank Act at a panel convened by the Securities and Exchange Commission. But a few contrary opinions were on hand as well. “We don’t believe assignment is a viable solution,” was the […]
Fitch: European SME Securitization Still Uneconomical
The revival of Europe’s collateralized loan obligation market doesn’t extend to middle market loans, according to Fitch Ratings.
Markit Launches Pricing Service for CLO Tranches
Markit, the global financial information services company, has launched a new service for the pricing of collateralized loan obligation tranches.
U.S. CLO Managers March to Europe
The first three European CLOs to price since the financial crisis were structured to ease investor worries, and their successively tighter spreads suggest that’s happening, boding well for future deals as they adapt to the current market’s demands. Cairn Capital, a latecomer to the CLO market (it completed its first two deals shortly before the […]
CLO Revival
A collective sigh must have fallen across weathered European collateralized loan obligation (CLO) managers when news emerged about H.J. Heinz Co.’s decision to forgo selling a European portion of its $12 billion LBO financing in mid-March. The financing to support the U.S. ketchup company’s $28 billion buyout by Warren Buffet’s Berkshire Hathaway and 3G Capital […]
European CLO Revival
Deal economics of European CLOs are improving, trumping regulatory challenges and a shortage of collateral
S&P Sounds Alarm on Cov-Lite Loans in CLOs
Standard & Poor's Sounds Alarm on Covenant-Lite Loans in CLOs
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