Trinitas V CLO reset delayed as year-end volatility bites securitization

CLO market sources tell GlobalCapital that Natixis has been unable to successfully market a CLO reset on behalf of Trinitas Capital Management and will delay the offering until early 2019 as investors balk at tight spreads in a highly volatile market.

  • By Alexander Saeedy
  • 06 Dec 2018
Natixis has been marketing a reset of its Trinitas V CLO since mid-November. CLO resets have been popular this year as spreads have tightened compared to the original issue date of some deals. Resets allow issuers to price a lower coupon and push out the maturity date, effectively ...

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Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 BNP Paribas 15,256 32 17.31
2 Bank of America Merrill Lynch (BAML) 9,637 29 10.93
3 Citi 8,264 22 9.37
4 Lloyds Bank 7,329 24 8.31
5 JP Morgan 6,580 10 7.46

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1 Citi 130,010.09 379 11.12%
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3 JPMorgan 102,778.33 300 8.79%
4 Wells Fargo Securities 93,728.92 276 8.01%
5 Credit Suisse 76,904.09 209 6.58%