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Despite currency risk, structure offsets some dangers for investors, although lower credit quality remains
No one is sure when AI's threat will strike, or where
Spread on the triple-A rated notes is 8bp tighter than for the issuer's recent deals
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Standard & Poor’s has placed nearly $2.9 billion worth of U.S. collateralized debt obligations on watch for possible upgrades after months of downgrading billions of CDOs. S
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A loophole in the Dodd-Frank Act may exempt collateralized loan obligations from proposed risk retention rules.
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Legacy European collateralized loan obligations have rallied 35-40 basis points since the Japanese earthquake, with secondary AAA spreads narrowing to LIBOR plus 200-225 bps, according to traders.
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San Francisco-based KKR Financial Holdings, the specialty finance arm of global buyout firm Kohlberg Kravis Roberts & Co., is scoping out opportunities in Europe to acquire legacy commercial real estate bank loans with an eye to launching future collateralized loan obligations.
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Lloyds Banking Group retained its £1.55 billion ($2.56 billion) project finance collateralized loan obligation, Gable Funding, due to a lack of investor appetite for floating-rate paper.
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Leverage is returning to the secondary private label residential mortgage-backed securities market as investment banks get comfortable dishing out risk to investors hungry for yield, according to a New York-based chief RMBS trader.
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Black Diamond Capital Management and ING Investment Management are both said to be raising new issue collateralized loan obligations, according to officials familiar with the strategies
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French insurance companies are circling equity tranches of collateralized loan obligations in the secondary market, according to Steven Touma, director at Paris-based Alicante Crossbow Trading.
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Symphony Asset Management is retaining only $3 million of the $44 million equity tranche anchoring its new $550 million collateralized loan obligation, with arranger Morgan Stanley distributing the bulk of the deal’s first loss piece to a number of third-party investors, according to officials.