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Investors raise concerns over obscure wording in CLO docs
4 years ago
Europe’s structured credit market has been abiding by the Securitisation Regulation for the best part of six months, but some investors have told Creditflux that they are still not satisfied with the way European CLOs are accounting for potential fines. -
US CLO managers see positives as docs include negative notation language to ease move to new reference rate
4 years ago
Europe might be making progress, but US CLO managers are less than preoccupied with the looming transition away from US dollar-Libor based pricing. -
CLO issuance faces threat amid loan definition dispute
4 years ago
The clash over Millennium Laboratories’ bankruptcy could have ramifications for the CLO market, and it all hinges on the philosophical question: what is a loan? -
Cayman Island hopping: EU laws provoke switch in CLO listings
4 years ago
The Cayman Islands Stock Exchange (CSX) is set to become the listing place of choice in 2019 for CLOs put together by US managers — at least, according to a bold prediction by law firm Harneys. -
Cadwalader's Tobias: investors are pushing back against cash leaking out of a CLO [video]
4 years ago
Cadwalader partner Daniel Tobias discusses the impact of the EU's Securitisation Regulation for CLOs at the Creditflux CLO symposium on 8 May -
Ashurst promotes structured products lawyer as one of 21 new partners
4 years ago
Ashurst has promoted to partner a London-based lawyer who specialises in derivatives and debt capital markets -
Japanese investors must confirm assets are appropriate... CLO managers can provide assurances
4 years ago
The stipulation that Japanese banks invest in appropriately formed assets is unlikely to hurt the CLO industry -
Japan regulation affords CLOs breathing room
4 years ago
Japan’s regulators have avoided disruption of the global CLO market by softening the impact of their risk retention rules that came into effect in March -
Leveraged loans pose credit risk but not systemic risk, conference told
4 years ago
Regulators and the press need to understand the difference between credit risk and systemic risk, claimed panelists at the IMN European CLOs and Leveraged Loans conference -
Ashurst hires counsel with structured products experience
5 years ago
Ashurst has appointed a counsel in its global markets practice in Paris -
Japanese regulator makes CLOs exempt from risk retention - if loans are appropriately originated
5 years ago
The Japan Financial Services Agency (FSA) has said that CLOs can sit outside the remits of its securitisation regulation, if investors in the country can provide ‘in-depth analysis’ showing the underlying assets were appropriately originated -
Securitisation Regulation hits European ABS issuance
5 years ago
Issuance in traditional European ABS has been notably slow in the first two months of 2019 following the introduction of the new Securitisation Regulation. -
US dollar three-month is focus point for benchmarks, finds Ice Libor survey
5 years ago
One-, three- and six-month US dollar and sterling are the focus points for Ice Benchmark Administration to seek agreement with banks, according to the results of IBA’s survey on uses of Libor -
CLO market holds breath as Japan risk retention looms
5 years ago
Risk retention compliant US CLOs could make a comeback after the Japan Financial Services Authority (JFSA) unveiled its proposed new risk retention framework, which could tie the hands of the world’s biggest buyers of US CLOs -
Market welcomes Esma loosening of securitisation regs but questions remain
5 years ago
The European Securities and Markets Authority (ESMA)'s revision of the reporting templates that must be completed under the securitisation regulations addresses many of the concerns raised by market participants but leaves some points of difficulty, according to industry lawyers -
CLO docs shed light on implementation of Securitisation Regulation
5 years ago
Market participants are beginning to get visibility on how European CLOs are handling the transparency obligation and the risk of fines under the European Securities & Markets Authority’s (Esma) Securitisation Regulation, according to a report on Creditflux’s sister publication Debtwire -
ESAs extend reporting olive branch to European CLOs
5 years ago
A group of European supervisory authorities (ESAs) have raised hopes that CLOs could avoid some of the toughest reporting requirements under the securitisation regulations coming into effect in January -
Past returns: Bond buckets are pipedreams, right?
5 years ago
Five years ago in Creditflux we reported that Webster Bank’s CLO tranche investor Francis Mitchell had created a working group in response to the Volcker rule determining that regional banks could no longer invest in CLOs with bond buckets -
Merry Christmas from the EU: Commission gifts regulatory relief to securitisations
5 years ago
European securitisers can breathe a sigh of relief today after the European Commission has endorsed calls to relax its securitisation regulation -
European regulators look to soothe CLO reporting jitters
5 years ago
The European Supervisory Authorities (ESAs – EBA, ESMA and EIOPA) have sought to calm the nerves of the European CLO industry ahead of a securitisation regulation framework that is due to come into effect from January -
Golub Capital BDC looks to become fourth largest publicy traded BDC with merger
5 years ago
Golub Capital is seeking approval from its shareholders to merge its Golub Capital business development company (GBDC) with another one of its business development companies, Golub Capital Investment Corporation (GCIC) -
Market favours retrospective over forward-looking approach to Ibor benchmark fallbacks, says Isda
5 years ago
New benchmark fallbacks for derivatives contracts that reference interbank offered rates are likely to be based on the “compounded setting in arrears rate” and the “historical mean/median approach to the spread adjustment”, the International Swaps and Derivatives Association has said -
Milbank's Solis and DLA Piper's Reilly: CLO 'contributions' can benefit everyone, but debt investors may seek limitations [video]
Milbank partner Sean Solis and DLA Piper partner Richard Reilly spoke with Creditflux's Hugh Minch after their panel at the CLO Investor Summit earlier this month -
Simmons & Simmons adds partner to lead its CLO practice in London
5 years ago
Simmons & Simmons has appointment structured credit specialist James Grand as a partner to lead its CLO practice -
ESMA regulations could halt European issuance, says LMA
5 years ago
The European securitisation market is at risk of a “cessation of issuance and market disruption” unless the European Securities and Markets Authority (ESMA) allows a phased implementation of the new regulatory framework due to come into effect from January, according to the Loan Market Association (LMA)
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