CLOs

  • Risky tech loans predicted to feature in more ABS

    Risky tech loans predicted to feature in more ABS

    Loans to fast growing but unprofitable software companies are finding their way into boundary-pushing securitizations. Investor appetite for yield could well bring this riskier product from niche to mainstream.

  • Redding Ridge priced $707m CLO

    Redding Ridge priced $707m CLO

    Apollo subsidiary Redding Ridge priced a $707m CLO on Friday. The deal is the largest new issue of the year and signals that large deals may be retruning returning to the CLO market after almost disappearing during the Covid-19 pandemic.

  • CLO investor Sancus leads wave of new managers

    CLO investor Sancus leads wave of new managers

    CLO investor Sancus Capital Management became a manager last week when it priced its debut deal. Pacific & Plains Capital, another newly formed CLO business, is also expected to join the list of CLO managers with a first deal on the horizon.

  • AB lauds tech approach as it closes second CLO

    AB lauds tech approach as it closes second CLO

    Market turmoil over the last year is encouraging more CLO managers to hone their technological tools to build better portfolios and to navigate future stress in markets. AllianceBernstein closed its second ever BSL CLO in May and says the success of its programme can be attributed to a series of technological instruments it uses to analyse its portfolio.

  • CLO market expects more widening in euro triple-As

    CLO market expects more widening in euro triple-As

    Some European CLO issuers have been sitting on the sidelines of the new issue market waiting for financing conditions at the top of the stack to tighten in order to make deals more economically attractive. However, the huge supply of refinanced and reset CLOs continues to push spreads even wider, meaning that managers may have to bite the bullet and issue deals at levels they may not entirely be comfortable with.

  • Eagle Point hires head corporate trader

    Eagle Point hires head corporate trader

    Eagle Point Credit Management, a specialist asset manager focused on investing in CLO securities, has hired Nate Morse as its new head corporate trader.