February 13, 2017 - After being dominated by refinancings in January, the CLO engine is firing on all cylinders in February. Following less than $1 billion of issuance in January, new CLO formation topped $3.2 billion in the first two weeks of February, according to LCD numbers. February refis, meanwhile, topped $5 billion through February 9th.
February 13, 2017 – In observance of the Washington’s Birthday holiday, the Loan Syndications and Trading Association (LSTA) recommends treating Monday, February 20, 2017 as a loan market holiday for purposes of calculating delayed compensation under the LSTA standard forms of trade confirmation.
February 10, 2017 - On Friday, the LSTA filed two motions with the U.S. Court of Appeals for the DC Circuit in its litigation against the SEC and the Federal Reserve (the “agencies”) on the issue of risk retention for CLO managers. The first motion, which was joined by the government, requested the court’s approval of a proposed briefing schedule. The second, which the government did not join but did not oppose, asks the court to expedite oral arguments after the final briefs are filed.
February 9, 2017 - While U.S. lenders – and borrowers – wonder whether the financial regulatory system may quickly ease under President Trump, the reality is that regulatory changes may take time to come to fruition, as noted here and here last week. At the same time that U.S. participants hope for easing, European lenders may fear the imposition of greater restrictions.
February 9, 2017 - The Loan Syndications and Trading Association is producing a series of short videos on blockchain, also known as distributed ledger technology. In each video, the LSTA’s Deputy General Counsel, Bridget Marsh, interviews Joe Dewey, partner of Holland & Knight, and one of the authors of “The Blockchain: A Guide for Legal and Business Professionals”.