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Harvard switches out of structured credit
14 years ago
Harvard's endowment has switched out of structured credit assets in the past year, saying that exposure has hit the fund’s liquidity -
Broker-dealer wins large CDO liquidation mandate
14 years ago
A New York-based firm has won the mandate to manage next week’s liquidation of a $2.5 billion structured finance CDO, according to market sources -
Manager appointed to run CDO liquidation
14 years ago
The trustee for a $3 billion high-grade ABS CDO has appointed a firm to manage its liquidation at the end of this month -
Record excess spread helps all CLO investors, says Citi
14 years ago
CLO investors often neglect the powerful benefits of excess spread, points out Citi in its latest structured credit research report -
SIV set for liquidation this month, reports Bloomberg
14 years ago
Bloomberg reports that structured investment vehicle Victoria Finance will liquidate its $8.4 billion portfolio in an auction on 25 September -
S&P unveils ABSXchange enhancements
14 years ago
S&P unveils ABSXchange enhancements -
Manager seeks to offload CLO tranches
14 years ago
A CDO manager has put out its own bid-wanted-in-competition list for today at 11 am New York time comprising a series of bonds managed by respected CLO managers -
Buyers snap up selected secondary CLOs
14 years ago
Sellers of CLOs in the secondary market hit a mixed response last week, with some positions getting snapped up, while others failed to attract desired levels -
Distressed buyer secures 40 cents payback on senior CDO notes
14 years ago
The senior investor in Mantoloking CDO 2006-1, a CDO of ABS that was recently liquidated, received 40% of the face value of the notes from the sale of assets according to an announcement by Moody’s yesterday -
Mix-bag auction produces a handful of CLO trades
14 years ago
A 15-name auction of mostly upper mezzanine CLOs last week resulted in only four trades, perhaps reflecting weak demand amid a faltering stock market and ahead of today’s US public holiday -
Morgan Stanley finds sharp drop in US CLOs failing tests
14 years ago
Morgan Stanley calculates that the number of US CLOs failing senior overcollateralisation tests has fallen from 45 last month to 37 this month -
Defaults hit German SME CLOs, says Fitch
14 years ago
Fitch Ratings says that defaults and delinquencies in some German balance sheet CLOs have hit all time highs -
“Outlier” mid-market CLO attracts eye-catching bid
14 years ago
During Wednesday’s forced liquidation of 12 CDOs, a mid-market CLO triple B bond surprised market participants when it covered at a price some 50 points higher than other mid-market triple Bs -
Morgan Stanley hires big name for structured credit push
14 years ago
Morgan Stanley has signalled its continued commitment to the structured credit market with a big-name hire -
US CLO sellers test demand for double As and triple Bs
14 years ago
Several cash CLO auctions took place on Tuesday and produced a high number of trades, according to market sources -
US CLO overlap is more than one-third, says Moody's
14 years ago
Moody’s points out the high degree of overlap between CLOs, with many owning the same loans -
Mid-market CLOs and CRE CDOs set to hit market today
14 years ago
A bid list due today at 11am New York time will test demand for middle market CLOs, which have typically traded at a discount to broadly syndicated CLOs -
Credit vehicle sues BMO over loan
14 years ago
A credit investment vehicle is suing Bank of Montreal in the New York state supreme court for cancelling its revolving loan -
Asian banks turn to hedge funds for valuations
14 years ago
Asian institutions that have large holdings of CDOs and other structured assets have begun working directly with western asset managers to get a better idea of their valuations -
US CLOs improve as European deals flounder
14 years ago
It’s official. European CLOs are now worse than US deals -
Listed vehicle marks CLO mezzanine tranche up 700%
14 years ago
A listed investment has booked an eye-catching 700% profit on its recent purchase of a distressed CLO security after its cashflow models showed that the bond was worth 76 cents in the dollar rather than the 9.5 cents it paid -
Hedge fund pulls off audacious CDO break-up trade
14 years ago
A New York-based hedge hit the jackpot last month after an audacious CDO break-up trade resulted in what seems to have been a spectacular profit -
Supply overpowers demand for secondary CLOs
14 years ago
Secondary CLO prices backed up by as much as 10 points last month, say market sources, as the market struggled to absorb a flood of new supply -
Early vintage CLOs see strong demand
14 years ago
Triple A bonds from 2006 and earlier now commonly trade in the high 80s to low 90s range, says a dealer that bought two bonds from an auction this week -
CLO equity holders come out of the woodwork
14 years ago
New bid list activity suggests that sellers of CLO equity are starting to emerge with more frequency and with larger size offerings
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