Barings poised to price third euro CLO in 2018, First Citizen back with Irish auto ABS
The €400m CLO deal, managed by Barings (UK) Limited, is set to price on Friday with spread talk on lower rated tranches indicative of a widening in CLO liability costs potentially pinching equity returns. Meanwhile, Magnetar Capital’s First Citizen Finance is marketing its second auto ABS deal backed by Irish loans.
Barings Euro CLO 2018-3, arranged by Credit Suisse, is rated by Fitch Ratings and Moody’s.
Classes A-1 to B-2, from triple-A down to double-A, have already gone ‘subject’ with spreads yet to be revealed.But spread talk for the lower rated tranches shows liability costs gapping wider compared with ...
Please take a trial or subscribe to access this content.
Contact our subscriptions team to discuss your access: email@example.com