CLO services (Collateralised Loan Obligations)

CLO

Our collateral loan obligation (CLO) solution begins at supporting the initial credit trade and follows straight through to the administration of the vehicle.  Our credit team has been involved in the servicing of CLOs since the 1990s, focusing on the U.S. market and the European CLO bases and expanding our solution in line with the needs of our clients. 

Our credit professionals provide expert administrative support throughout the CLO lifecycle, from the warehouse period to the amortisation period. We can support pre-trade processing on our Allvue system, as well as drawdowns, settlements, rollovers and early paydowns.  We deliver a technology-enabled solution to meet your credit trading requirements and manage the administration of your vehicle.

With 4,000 people working across 24 locations, we have the experience, the expertise and global presence you need to manage your CLOs efficiently.

Trustee

  • Taking responsibility for any reporting required under the documentation
  • Ensuring all issuance is carried out in a fit and proper manner
  • Reviewing supporting documentation and monitoring covenants under the Trust Deed
  • Retaining and delivering issuer information as required

Collateral administration and information agent

  • Maintaining the collateral database
    • Inputting all relevant collateral information and asset characteristics
    • Monitoring current rates and input changes for FRN collateral
    • Tracking purchase price, accrued interest, disposition proceeds
  • Preparing cashflow and portfolio reports and distribute monthly reports
  • Preparing waterfall reports including procurement of all necessary invoices and documents

Calculation agent

  • Collecting and paying the principal and interest on assets held in the account
  • Performing monthly bank reconciliations

Annual paying agent, transfer agent and registrar fees (144A and/or Reg S)

  • Arranging payment of interest and principal to investors via Euroclear / Clearstream and DTC
  • Carrying out rate set calculations, verifying reference and step margin
  • Maintaining and administration of noteholder register
  • Recording all ownership transfers and in the case of a transfer or exchange, issue and authenticate new notes
  • Responding to all note holder queries

Warehouse security agent

  • Settling trade and wire instructions
  • Maintaining the books and records of the asset portfolio on a collateral database
  • Preparing daily cashflow statements and weekly position reports
  • Maintaining the note register
  • Acting as Collateral Agent / Security Agent

Regulatory (ECB / FVC) reporting agent

  • Producing the required FEC1 reports / data files so that they meet the ECB reporting requirements of Securitisation vehicles/FVCs

Securitisation transparency reporting

  • Facilitating the completion and timely posting of the Article 7 Securitisation Regulation transparency reporting for Annexe 4 and Annex 12 quarterly reporting disclosures:
    • Generating data point values as per administrator side letter
    • Requesting the required data points from the manager
    • Consolidating all data into the required format
    • Sending the consolidated file for manager review and approval
    • Posting the completed consolidated file in requisite format to the investor website

Key contacts