Latest news
Latest news
Market anticipates another record year for new issuance, even as equity returns remain weak
Rating upgrades to CLO tranches by Moody's and Fitch could let managers increase leverage in deals
Manager takes advantage of tight spreads available for refinancings to cut triple-A pricing by 14bp
More articles
More articles
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BlackRock has sold half of the equity of its recent $400 million collateralized loan obligation to third-party investors, according to an official close to the transaction.
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Dealers are scoping out trading opportunities in legacy collateralized loan obligations as Moody’s Investors Service works to revise its default assumptions imposed in the wake of the mortgage crisis. Legacy CLOs, BBs and single B- tranches in particular, are being sized up as new trading opportunities.
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Apidos Capital Management is looking to raise a new collateralized loan obligation this quarter, its first vehicle since the financial crisis hit the market. The firm has been actively buying contracts from other managers in the ensuing consolidation period, and still has its eye on more acquisitions. Gretchen Bergstressser, senior portfolio manager, and Christopher Allen, chief operating officer, recently sat down with TS Managing Editor Joy Wiltermuth to discuss their strategy. -
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.
