US CLO managers eye Europe as Chenavari brings crossover

By Tom Porter
10 Jul 2014

At least three more US CLO managers are considering launching debut European CLO 2.0 transactions, GlobalCapital understands. The move further increases the potential pool of European issuers, which has already exceeded expectations this year and comes as Chenavari launches a rare deal complying with both US and European regulations.

Chenavari launched its €360m Toro CLO, which complies with both the US Volcker rule and Europe’s 5% risk retention rule, through Deutsche Bank on Wednesday.

In general managers issuing CLOs denominated in dollars and euros have tended to stick to complying with only the regulations of the currency’s ...

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