Moody's Investors Services top rankings of U.S. CLO managers still includes many familiar names, but the usual suspects lost market share in the fourth quarter of 2014 to some medium-sized managers; GSO/Blackstone grabbed the top spot in Europe.
Volkswagen Bank said today that it sold two tranches from its Driver Thirteen, German auto loan securitization at the lower end of price talk.
The three loans Calvino Loan, Globe Loan and Fashion District Loan have an aggregate balance of 301.5 million.
Volkswagen Bank's717 million ($138 million) German auto loan securitization kicks off primary issuance in Europe. On offer under Driver Thirteens capital structure are 691.5 million of AAA rated class A notes and 25.5 million of A rated class B notes.
LCM Partners Limited (LCM) has hired Ilaria Vignozzi and Nadya Aleshina, formerly directors from S&P to join its consulting team.
A nascent private bond market in France is expected to grow significantly over the next two years, and could complement, or possibly compete with, securitization of loans to small and medium-sized enterprises.
A policy fight is threatening the recovery of collateralized loan obligations in Europe.
European collateralized loan obligations issued pre-financial crisis are nearing the end of their reinvestment periods, yet the maturities of the loans that serve as collateral continue to shift further out into the future.
The latest generation of European CLOs may expose investors to a risk that didnt exist in most collateralized loan obligations issued before the financial crisis: fluctuations in foreign exchange rates.
With Global ABS around the corner, its only fitting that we turn our attention to Europe.
Vice President of Regulatory Compliance
Firm: Clayton Holdings
In the news: How Ability-to-Repay Rules Could Reshape RMBS Market
The $300 billion of CMBS maturing over the next three years will test the recovery of the capital markets.Current Issue