Latest CLO/CDO news

  • Japanese investors being priced out as CLO demand soars

    Demand for US CLO triple-A paper is at its peak, with sources saying that competition for the bonds is squeezing out the Japanese buyer base that has long been a driver of the market.

    • 16 Feb 2017
  • Sponsor route for UK CLO managers still open, despite concerns

    Despite many UK-based CLO managers switching to the manager originator model for European risk retention in the immediate aftermath of the Brexit vote, many are returning to the sponsor route, with investors comfortable with either approach.

    • 16 Feb 2017
  • More value in older CLOs, says TwentyFour AM

    With primary European CLO spreads hitting some of their tightest levels since the financial crisis, better value could be found in more seasoned deals coming up for refinancing, said TwentyFour Asset Management on Monday.

    • 14 Feb 2017
  • With retail in trouble, Deutsche Bank says short CMBS

    Deutsche Bank is telling investors that it may be time to place bets against the CMBS market, as mounting problems in the retail sector threaten the health of some post-crisis bonds heavily exposed to lower quality retail properties.

    • 13 Feb 2017
  • Managers' CLO risk retention vehicles could squeeze equity buyers

    Third party CLO equity investors could struggle to compete in a market in which managers have highly capitalised retention vehicles they can utilise to invest in both their own and other managers' equity, said industry sources this week.

    • 13 Feb 2017
  • Global managers slow to ramp new CLOs as appetite soars

    CLO managers in the US and Europe are struggling to source loans, often pricing new deals with levels of collateral that are well below normal and thereby increasing uncertainty in the asset class. But views in each market diverge on the implications of the trend, as US CLO investors continue to show insatiable appetite, while their European counterparts cool their heels in the hope that spreads come off their historical lows. David Bell and Sam Kerr report.

    • 09 Feb 2017
  • European CLOs on pause as investors cool off

    After an impressive 2016, the best year for European CLO formation since the financial crisis, the market is taking a breather, as managers struggle to source loan collateral and investor appetite for the debt at tight spreads cools off.

    • 09 Feb 2017
  • Barclays lures Kalra back from Goldman, names senior credit team

    Barclays has announced several senior appointments in its credit trading business, including the rehire of Shrut Kalra from Goldman Sachs to co-head European high grade on the derivatives side.

    • 09 Feb 2017
  • Equity buyers push CLO refis over new issues

    Third party CLO equity investors are a driving force behind the wave of CLO refinancings at the expense of new issuance, as pricey leveraged loans make returns on new deal equity less attractive.

    • 07 Feb 2017
  • US primary CLO pipeline comes alive

    A flurry of US CLOs were priced at the end of last week, jump starting the primary market after a long period of deal refinancings and resets.

    • 06 Feb 2017

CLO/CDO news archive

GlobalCapital European securitization league table

Rank Lead Manager/Arranger Share % by Volume
1 Societe Generale 24.70
2 Rabobank 23.18
3 Morgan Stanley 11.45
4 Credit Agricole 8.72
5 BNP Paribas 7.31

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 13 Feb 2017
1 Bank of America Merrill Lynch 5,438.32 17 10.24%
2 Citi 5,386.46 22 10.14%
3 Wells Fargo Securities 5,182.26 18 9.76%
4 JPMorgan 4,381.70 14 8.25%
5 Credit Suisse 3,105.53 9 5.85%