Sector developments and company hires

CLO tender offer
The Black Diamond CLO 2015-1 issuer has launched a tender offer to all noteholders of the €176.3m class A1 and the US$67.2m class A2 notes. The purchase price for any bonds tendered under the offer will equal 98.75% of the principal amount outstanding of each note. The offer expires on 2 June, with settlement due on 9 June.

Credit card trust amended
The Master Credit Card Trust II Canadian credit card ABS programme has been amended to incorporate mechanisms to allow for the servicer to deposit into the collection account amounts equivalent to the monthly interest rate credit temporarily granted to card holders impacted by the coronavirus pandemic. Moody's confirms that the amendments will not result in a downgrade or withdrawal of the ratings currently assigned to any class of outstanding notes issued by the trust.