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LevFin CLOs

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BWICs spike and spreads widen but market remains constructive
Resets and refis prominent in pipeline as loan market softens, offering respite from repricing wave
Dasha Sobornova joins from Akin Gump with experience across asset classes
Trade body for levfin investors turns to leading rating analyst
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  • Hays, the UK recruitment company, has completed a new £300m revolving credit facility maturing in October 2017 to replace outstanding debt, it announced today.
  • UK patent management group CPA Global has followed the example of German bandage maker BSN Medical in attempting to reprice its term loan ‘B’ with reduced margins.
  • A weekly roundup of securitization sectors with year-to-date totals in ABS, CMBS, RMBS and CLOs in the US and Europe.
  • German investment bank Altium Capital has hired two managing directors, Norbert Schmitz and Johannes Schmittat, from rival DC Advisory Partners to build up a debt advisory and financial restructuring practice in Europe.
  • Christmas, Halloween, the return of Strictly Come Dancing: these are the only things the loan market has to look forward to over the final quarter of the year, as it seems there are few expectations for dealflow to increase over the next three months.
  • Banca IMI has named Marco Gastoni as head of syndication, reporting to head of structured finance Mario Brivio.