CDOs

News

Prudential Preps $650M CLO

The deal, Dryden 34 Senior Loan Fund, will be backed by a broadly syndicated portfolio of corporate debt only. Both the two-year non-call period and four-year reinvestment period are in line with other recent CLOs on the market.

New Investors Flocking to CLO AAA Paper

While the Volcker Rule gets blamed for the sudden lull in CLO issuance in January and February, it’s now getting some credit for helping one aspect of the roaring comeback of collateralized loan obligations: the infusion of new primary investors in AAA tranches.

Morgan Stanley Markets $500M CLO for Sound Point

Moody’s Investors Service has assigned preliminary ‘Aaa’ ratings to two of the eight tranches issued by Sound Point CLO VI: the $305 million class A-1 notes and the $20 million class A-2 notes

Voya In Market with Third CLO of 2014

The $500 million Voya CLO 2014-3 features a fixed-rate tranche, creating the potential for interest-rate mismatch, according to Moody's Investors Service.

TPG, Pinebridge Add Nearly $1B to U.S. CLO Pipeline

TPG, with just one other CLO under its belt, is a newbie; Pinebride runs nine other deals rated by Standard & Poor's.

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Articles

CLO Triple-As Still Calling the Shots

The limited number of buyers able to write big tickets allows them players to dictate terms.

No Exception to Risk Retention for CLOs

Risk-retention rules could thin the ranks of CLO managers; the industry was hoping for a workaround, but what it got is pretty much unworkable.

Risk Retention Rules May Shrink U.S. CLO Market

The U.S. market for collateralized loan obligations would shrink by 75% if proposed risk-retention rules are implemented, according to the Loan Syndication and Trading Association.

People on the Move

DFG Taps Goldman Vet, Barclays Bulks Up on CMBS, Ares Adds Jeffrey Kramer and the ASF Retains Mike Williams as Policy Adviser

CLO Managers Grapple with S&P Recovery Test

A shift in the leveraged loan market has intensified grumbling among CLO managers about the way Standard & Poor’s rates the senior tranches of these deals.

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Current Issue

Single-Asset, Single-Loan CMBS is Back

Securitization of very large commercial mortgages is picking up again, and so is the leverage in some of these deals.

Current Issue