CBAM, AGL return to five year reinvestment

Happy market
By Paola Aurisicchio
24 Nov 2020

CBAM priced a $329M CLO on Tuesday, joining a handful of managers that are gradually pushing out reinvestment periods back to the pre-Covid five year standard.

The CLO was arranged by BNP Paribas with senior notes sold at 143bp over three month Libor. The transaction is the second US CLO issued during the crisis by CBAM and the first one with a pre-Covid reinvestment period. The New York-based firm, founded in 2016 by Don ...

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