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CDOs

Babson Assumes Management of Five Jefferies CLOs

March 8, 2010 - The assumption of these CLOs has pushed the firm's high yield assets to close to $20 billion.

S&P Requests Feedback on CLO Metric

March 2, 2010 - Standard & Poor’s would like input from loan market participants on a proposed metric that would estimate a CLO’s recovery value.

Fitch: More CDOs Breach Event of Default Overcollateralization Ratio Trigger

February 23, 2010 - Several European collateralized debt obligations are expected to experience an event of default triggered by a breach of the event of default overcollateralization ratio trigger, Fitch Ratings said.

BNP Hires Three ABS Professionals in London

February 16, 2010 - BNP Paribas appointed Giovanni Pini as head of ABS strategy and Olivier Morand-Duval as European head of ABS trading. Perry Inglis also joined as head of ABS valuation and origination.

Highland to Launch New CLO Value Fund

February 11, 2010 - Highland Capital Management, which last week ago returned investments and closed its CLO Value Fund I, is preparing to kick off another similar fund.

ING Alternative Asset Management Assumes Management of Three CLOs

February 10, 2010 - ING will assume management of Avenue CLO IV, Avenue CLO V and Avenue CLO VI.

Highland Capital Management Completes CLO Value Fund I

February 4, 2010 - Highland also provides a 138$ gross return to its investors.

Jefferies Hires Head of CLO/CDO Trading

February 3, 2010 - Jefferies has hired Sharif Anbar-Colas as its global head of CLO and CDO trading.

Judge Allows Wisconsin Schools’ CDO Case to Go Forward

January 29, 2010 - A Milwaukee County Circuit Court judge ruled yesterday that a lawsuit filed by five southeastern Wisconsin school districts against several financial firms over the safety of an investment involving synthetic CDOs can proceed.

Nixon Peabody Hires Securitization Counsel

January 27, 2010 - Nixon Peabody expanded its securitization and structured finance group as well as its corporate trust team.

Babson Capital Becomes Replacement Manager for Two CDO of CDOs

January 27, 2010 - Babson Capital Management has been selected by the controlling class of investors to serve as successor collateral manager of two CDOs previously managed by Tricadia Loan Management.

Flush With Cash, CLOs Could Shape Market

January 22, 2010 - CLOs are moving away from the secondary loan market because most of the yielding syndicated loans have been picked over.

TCW Files Suit Against Gundlach

January 8, 2010 - TCW is alleging that Gundlach, his new firm, DoubleLine Capital, and the employees he plucked from TCW, breached their fiduciary duty.

NewStar Completes $275 Mln CLO

January 7, 2010 - The proceeds will be used to refinance existing debt and provide $50 million of new lending capacity.

Big Banks Eye CLO Comeback

December 15, 2009 - It appears that the three largest U.S. banks have begun to prepare for the much-awaited (and doubted) comeback of the CLO market.