CLO 3.0: The Impact of Regulations

Structural changes made to the governing documents for a post-financial crisis CLO helped foster growth in the CLO market in 2012, when new issuance reached approximately $55 billion, and in 2013, when CLO issuance exceeded $81 billion. In 2014, the CLO market is poised to enter a new phase — CLO 3.0 — in which some of the recent industry regulations have been finalized and others, while not finalized, are gaining more clarity. In this chapter, published in the 2014 edition of The International Comparative Legal Guide to: Securitisation, SRZ partners Craig Stein and Paul N. Watterson, Jr. discuss the impact of these regulations on the CLO market.

The International Comparative Legal Guide to: Securitisation is published by Global Legal Group Ltd, London.