CLOs

A CLO is a collateralized loan obligation or collateralised loan obligation known collectively as CLOs. CLOs are CDOs that reference loans, such as leveraged loans, SME loans or a bank's whole loan book (a balance sheet CLO). They come in both managed CLO and static CLO form and can be market value CLOs or synthetic CLOs.

• Into the light?

  European CLOs continue to improve

  The European CLO market is seeking to build on its relatively stable foundations of recent months as...

  News    21 September 2020

• SCI Start the Week - 21 September

  A review of securitisation activity over the past seven days

  REMINDER: SCI CRT Awards The submissions period for the 2020 SCI CRT Awards is now open. The qualif...

  News    21 September 2020

• Tech crazy

  Securitizations of tech assets finding favour in Covid world

  Securitizations of technology assets are proving popular with US investors in the Covid marketplace,...

  News Analysis    18 September 2020

• Missing piece

  Lack of equity investors holding back CLO growth

  The CLO primary market is fully back to post-summer business with three new deals pricing yesterday,...

  News Analysis    11 September 2020

• Multi-level Libor exposure eyed

  Sector developments and company hires

  Multi-level Libor exposure eyed Japanese securitisations with exposure to Libor on multiple level...

  Market moves    9 September 2020

• Euro CLO payment mismatch grows

  Sector developments and company hires

  Euro CLO payment mismatch grows The payment frequency mismatch between underlying loans and Europea...

  Market moves    8 September 2020

• SCI Start the Week - 7 September

  A review of securitisation activity over the past seven days

  SCI CRT Awards The submissions period for the 2020 SCI CRT Awards is now open. The qualifying perio...

  News    7 September 2020

• Reporting template RTS published

  Sector developments and company hires

  Reporting template RTS published Seven Commission Delegated and Implementing Regulations comprising...

  Market moves    4 September 2020

• CMBS cure rates eyed

  Sector developments and company hires

  CMBS cure rates eyed August US CMBS remittance data shows declining 30-plus day delinquency rates,...

  Market moves    3 September 2020

• Negative rating actions tallied

  Sector developments and company hires

  Negative rating actions tallied Fitch reports that global structured finance negative rating action...

  Market moves    2 September 2020

• Challenging times

  European CLO overlap issues addressed

  European CLOs’ overlap disadvantage versus the US has been exacerbated by the Covid crisis...

  News Analysis    2 September 2020

• CECL eligibility expanded

  Sector developments and company hires

  CECL eligibility expanded The FDIC, OCC and the US Fed have finalised a rule that allows institutio...

  Market moves    28 August 2020

• Middle ground?

  Middle market CLO credit agreements being renegotiated

  Many of the borrowers of the loans underlying US middle market CLOs are facing severe economic distr...

  News    26 August 2020

• FDIC sued over Madden rule

  Sector developments and company hires

  FDIC sued over Madden rule The states of California, Illinois, Massachusetts, Minnesota, New Jersey...

  Market moves    25 August 2020

• Skilled nursing CMBS eyed

  Sector developments and company hires

  Skilled nursing CMBS eyed DBRS Morningstar is reviewing its ratings on the CSMC 2019-SKLZ, Greyston...

  Market moves    24 August 2020

• SCI Start the Week - 24 August

  A review of securitisation activity over the past seven days

  Last week's stories Car capital relief JPM Chase tests the auto loan waters with new CRT deal ...

  News    24 August 2020

• Seasoned QMs proposed

  Sector developments and company hires

  Seasoned QMs proposed The CFPB has issued a notice of proposed rulemaking (NPRM) to create a new ca...

  Market moves    20 August 2020

• New targets

  US CLO spread and issuance targets raised as previous levels already met

  US CLO triple-A and triple-B secondary spreads are now at 150bp and 450bp, while net primary supply...

  News    20 August 2020

• Special servicing assets transferred

  Sector developments and company hires

  Special servicing assets transferred The assignment of substantially all of the assets of C-III Ass...

  Market moves    18 August 2020

• SCI Start the Week - 17 August

  A review of securitisation activity over the past seven days

  Last week's stories Collections clarity Payment arrangement ABS strengthened Problem solving ...

  News    17 August 2020

• Repeat patterns

  CLO equity activity continues to be challenged

  The US CLO primary and secondary markets broadly appear to have bounced back from the early stages o...

  News Analysis    12 August 2020