Deborah Festa, partner in Milbank, Tweed, Hadley & McCloy’s Alternative Investments Practice, was quoted in a recent Thomson Reuters article titled, “Managers Under Pressure as 2015 CLO Refinancings Loom.”
In the context of a discussion of US risk retention rules and their applicability to CLO refinancings, Ms. Festa explained that, “managers of CLOs that do not currently comply and refinance or reset will be required to hold 5% of each refinanced class.”
