CLO & LIBOR Risks and Recommendations
CLO practitioners are buckling down to do the hard work of LIBOR transition. First, managers are beginning to remediate their portfolios. Second, rating agencies are…
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LIBOR: The “Old CLO” Fix
LIBOR cessation is coming…and (some) CLOs have a problem. While LIBOR cessation may be operationally challenging for products that have workable fallback language, it is…
LIBOR: Read, Remediate, Repeat
On Tuesday, LSTA EVP Meredith Coffey chaired a panel at the IMN Virtual LIBOR Conference that focused on how to transition the thousands of loans…
Operational Readiness in the Loan and CLO Market
This presentation was done for IMN’s Virtual Investors’ Conference on LIBOR that took place on September 29, 2020. Presented by Meredith Coffey of LSTA, Michael…
CLOs & (No) Systemic Risk: The Arguments Continue
As loan market participants, we have all seen our share of news stories that make our eyes roll over the misunderstanding of CLOs and the…
Could CLO AAA Tranches Actually Suffer Losses in the Downturn?
A question has recently been traversing the internet: “Could CLO AAA notes suffer significant and troubling credit losses?” In reality, it would take incredible, prolonged…
CLO AAAs, Credit Losses and Cave Living
Could CLO AAA notes be subject to significant and troubling credit losses?
IMN’s U.S. CLOs Liquidity and Collateral Performance Update: Impact of COVID-19 Webinar
IMN’s U.S. CLOs Liquidity and Collateral Performance Update: Impact of COVID-19 Webinar that took place on Thursday, April 23, 2020. For your convenience, the full…
TALF & CLOs: Into the Weeds
n April 9th, the Federal Reserve announced an additional $2.3 trillion of lending programs, which included the Term Asset-Backed Securities Loan Facility (“TALF”).
LSTA Statement on CLO Liquidity
In light of recent market conditions, the LSTA has received a number of inquiries whether CLOs will be forced to significantly liquidate their loan positions…
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