The nine participants are seeking proof that processing loan data exclusively on a blockchain could eliminate the cost for each to maintain their own lending system.
In October, roughly $40 billion collateralized loan obligations will become callable, giving managers with a required payment date only a month in which to refinance before the risk retention requirement kicks in.
The monthly total of $5.9 billion in new collateralized loan obligation issuance in August made slight gains over Julys output, but year-to-date issuance remains sharply off 2015s pace.
High investor demand for collateralized loan obligation paper is squeezing spreads to their tightest levels in more than a year, even as improving monthly CLO issuance has reached its highest level of 2016.
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.
Treasurer, Head of Asset Management
Firm: NewStar Financial
The $1.17 billion deal follows a year’s worth of management deliberations over issuing asset-backeds, which Verizon expects to lower the cost of financing device payment-plan agreements.The deal will also ease pressure on the carrier's own corporate credit ratings.Current Issue