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Dasha Sobornova joins from Akin Gump with experience across asset classes
Trade body for levfin investors turns to leading rating analyst
Demand for riskiest tranches and improved loan supply could support growth in issuance
Dana Point 'no longer the end' of the year as market retains momentum
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Private equity and debt investment group Intermediate Capital (ICG) has named former Standard Chartered chief executive Mervyn Davies its new chairman, replacing Kevin Parry.
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Mark Okada, the co-founder of alternative credit investment and CLO management firm Highland Capital Management, is set to retire at the end of the year. -
Angelo Gordon sold its first ever European CLO at the end of last week, pricing the triple-A notes at the tightest levels of 2019.
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The Federal Reserve is unlikely to take US interest rates into negative territory, preferring to embark on another round of quantitative easing to stave off a recession, speakers said at ABS East on Tuesday.
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Market players speaking on a panel on day two of ABS East were sounding the alarm on the possibility that a wave of downgrades could hit CLO collateral over the next three years, testing the market’s ability to withstand an influx of triple-C loans.
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CLO managers are rushing to reset their deals because they can no longer find enough loans with covenants to buy. European CLOs issued as recently as 2017 require up to 20% of loans to feature maintenance covenants, which are almost never seen in the European market now.
