Collateralized loan obligation activity should increase despite higher-for-longer rates and liability management exercises.

The deal includes a minimum assets test, requiring the issuers to own at least 10 assets at the end of the nine-month delivery period, or seven assets after the delivery period.

Like other recent pools of securitized mortgages located in the Los Angeles County area, any loans that exhibited material damage from the fires were removed from the pool before closing.