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Covered funds provisions set to be revised

Category: ABS CDO CLOs


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Sector developments and company hires

AMR auction debut
The first-ever CLO applicable margin reset executed online – via KopenTech’s auction platform - saw all five tranches of TCW 2019-1 CLO refinanced successfully. The coupon of the US$240m triple-A rated tranche was reset to 107bp, from a spread of 144bp when the transaction initially closed.

Receivables ABS prepped
Gedesco Finance and Toro Finance are in the market with Gedesco Trade Receivables 2020-1, a revolving securitisation backed by factoring, promissory note and short-term loan receivables extended to enterprises and self-employed individuals located in Spain.

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