Carlyle has raised an additional $800 million for "opportunistic" debt and equity investments of third-party CLOs, in a planned expansion of its $19.4B in structured credit business assets under management.
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The pooling of loans and leases for Volvo- and Mack-brand trucking and construction equipment is modeled largely on the credit and portfolio characteristics of seven prior securitizations by Volvo's VFS subsidiary.
February 1
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All four senior tranches benefit from initial hard credit enhancement of12%, which is down from 12.25% on the senior tranches of the 2017-1 deal, 12.30% for 2016-1 and 12.90% in 2015-1.
January 31
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Aegon Asset Management's new Cedar Funding CLO VII is expected to price its senior triple-A notes at 100 basis points above Libor, carrying on a 2017 trend of tightening spreads.
January 31
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A federal appeals court handed a major victory — and a significant defeat — to the CFPB by upholding its constitutional structure while also slapping down the agency's practice of making new interpretations of law through enforcement actions.
January 31
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The decision by the appeals court means that a president can only fire the head of the Consumer Financial Protection Bureau for cause. But the ruling also scrapped the CFPB's massive fine against a nonbank mortgage lender.
January 31
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While tightening down on cov-lite and subordinate loans, Marathon CLO XI's rules give the asset manager more room to trade in lower-credit and DIP loans.
January 31
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The Renaissance Aruba Resort & Casino went through a foreclosure in 2012, giving its mezzanine lender an equity stake; the majority owners have obtained a new $195 million loan to buy out two partners.
January 31
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The deal was launched shortly after SoFi announced that Anthony Noto, the chief operating officer of Twitter, will join as CEO. It also benefits from higher credit enhancement.
January 30
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The Detroit company recorded an 11% increase in car loans and leases originated during the fourth quarter, as well as a jump in yields. Ally appears to be benefiting from Wells Fargo's substantial retrenchment in auto lending.
January 30
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The online lender to small businesses is expanding its business deeper into traditional banks’ territory with larger loans.
January 30
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Returns for equity investors are increasingly under pressure because of demand for the underlying loan assets, but strategies to boost returns can investors in other CLO securities at risk.
January 29
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The acting head of the Consumer Financial Protection Bureau can utilize "look-backs" of mortgage servicing and underwriting rules to push for significant changes.
January 29
