CLOs Under Stress from Loan Re-Pricings
Corporate borrowers continue to take advantage of strong demand for loans to re-price existing debt, and this is putting a squeeze on some of the biggest buyers of loans—collateralized loan obligations.
CDOs
Fitch Sees European CLO Ratings Stable This Year
Fitch Ratings does not expect to either upgrade or downgrade any European collateralized loan obligations for the remainder of 2013.
Groups Submit Proposals to Help CLOs Comply with FATCA
The Loan Syndications and Trading Association and the Securities Industry and Financial Markets Association have jointly developed a pair of proposals to help collateralized loan obligations comply with the U.S.'s new Foreign Account Tax Compliance (FACTA) tax regulations.
Fitch: CLO Issuance Likely to Level Off
Issuance of new U.S. collateralized loan obligations is likely to level off after ‘skyrocketing’ in the first quarter, according ot Fitch Ratings.
Pramerica Changes Structure of European CLO
Pramerica has adjusted the structure of a €300 million CLO it priced this month, presumably to reflect the fact that an unusually large portion of the collateral is in fixed-rate bonds, as opposed to floating rate loans.
Seix Returns to CLO Market with $400M Deal
Seix Investment Advisors is returning to the CLO market for the first time since the financial crisis with a $400 million deal.
SFIG Keeps Pros Updated on Who Has Joined
The Structured Finance Industry Group has 55 members and counting. The new trade organization’s website now has a link to all of those who have joined the group.
Citigroup Marketing $416M CLO for THL
THL Senior Credit Strategies is in the market with its fifth collateralized loan obligation, according to a presale report by Standard & Poor’s.
Apollo Prices €325M European CLO
Apollo Global Management said today it priced its first European collateralized loan obligation; the €325 million deal is only the region's third since the financial crisis.
CLO M&A: Unmotivated Sellers, Unmotivated Buyers
consolidation among managers of collateralized loan obligations has slowed
Arbor Plans ‘Programmatic’ CRE CLO Issuance
Arbor Realty Trust plans to issue CLOs backed by commercial real estate on a regular basis, Gene Kilgore, executive vice president of structured securitization said today.
Lack of Loans Still Holding Back European CLO Market
The biggest impediment to the recovery of the European CLO market is the lack of loan issuance in the region, according to panelists at IMN's industry conference.
SFIG & IMN to Hold Conference in Vegas, Jan. 22-24
This is only days before the American Securitization Forum (ASF) is scheduled to host its annual conference, also in Last Vegas.
BofA Talks Price on CVC Credit’s Latest CLO
Pricing has emerged on a $500 million collateralized loan obligation that Bank of America is marketing for CVC Credit Partners.
CLO Managers Seek Risk-Retention Work Around
The Loan Syndications and Trading Association is proposing a new risk retention plan for CLOs that meets the Dodd-Frank Act's requirements while allowing market players to originate new CLOs.
CNO Financial Closes on $413M CLO
CNO Financial closed on the $413 million Cedar Creek CLO, its fourth collateralized loan obligation.
FDIC May Push Banks Into Riskier Tranches of CLOs
Banks are expected to start buying riskier portions of collateralized loan obligations (CLOs) in response to a deposit-insurance rule change that takes effect this month.
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