CLO Managers Resist Long Maturity Delayed-Draw Deals

10 May 2007

Collateralized loan obligation managers are pushing back against extended delayed-draw term loans that are causing negative drag on their portfolios.

Collateralized loan obligation managers are pushing back against extended delayed-draw term loans that are causing negative drag on their portfolios. A recent target was Cannery Casino Resorts, which had to increase the ticking fee to 225, making it fully funded, in order for the loan to clear the ...

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