CDOs

News

Securitization Head Retiring from NewStar

Mid-market commercial direct lender Newstar Financial is losing one of its founding members and a key figure in establishing its multi-faceted securitization platform with the announced retirement of treasurer and asset management head John Frishkopf.

Rising Libor a “Double-Sided” Issue for CLO Investors

The recent and ongoing upheaval in Libor rates is producing divergent outlooks on debt and equity positions in CLOs, says the Loan Syndications and Trading Association.

"Skin in Game" Rule a Boon for New Breed of CLO Manager

Rules requiring CLO managers to keep skin in the game of their deals has taken a toll on smaller firms. But the resulting thinning of the ranks has created room for some new players that are better capitalized, including insurance companies.

LSTA Finalizes Rule to Speed Loan Trade Settlement

Purchasers of below-investment grade corporate loans, buyers will have to have to commit to producing funds within five days of a purchase agreement if they want to collect interest while waiting for a deal to close.

S&P: CLO Upgrade Ratio Still Healthy, but Pressure Mounts

The rating agency in the second quarter upgraded 149 tranches of senior, mezzanine or subordinate notes across 49 CLOs. By comparison, it downgraded just 13 tranches of six CLOs.

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Articles

CLO Triple-As Still Calling the Shots

The limited number of buyers able to write big tickets allows them players to dictate terms.

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ASR People Database

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John Frishkopf

Treasurer, Head of Asset Management

Firm: NewStar Financial

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States Joining Ranks of Student Loan Cherry Pickers

State student loan authorities sense a business opportunity helping graduates who are gainfully employed lower their payments. Their low-cost funding could put them in competition with banks and marketplace lenders.

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