Jefferies Issues 2nd CLO Backed by Revolvers

The $414M JFIN Revolver CLO 2014 is backed entirely by revolving lines of credit and delayed draw loans.

40¦86 Advisors Preps $350M Silver Creek CLO

40¦86 Advisors Inc. is preparing a $350 million collateralized loan obligation, according to a presale report published by Moody’s Investors Service.

Pramerica Preps €416.7M European CLO

Dryden 32 Euro CLO 2014 is backed primarily by euro-denominated broadly syndicated senior secured loans and bonds; however the manager can purchase non-euro-denominated obligations subject to an asset swap.

Fitch: Impact of Volcker Compliance on CLOs Varies

The agency believes tailoring existing collateralized loan obligations to comply with restrictions imposed by the Volcker Rule will create winners and losers.

Par Four, Cutwater Add $850M to CLO Pipeline

Par Four's $450 million deal is its first CLO of the year; Cutwater's $400 million deal is the first in company history.



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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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.

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