Top Section/Ad
Top Section/Ad
Most recent
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
More articles/Ad
More articles/Ad
More articles
-
As worries about the leveraged loan market have entered the mainstream, there’s an obvious villain: the booming CLO market, which has expanded, gobbling up whatever the stretched lev loan mart can feed it. But not all heroes wear capes. Despite being a three-letter acronym, these vehicles could be the heroes we need. -
Analysts from Bank of America Merrill Lynch said on Monday that they were cutting their forecasts for CLO refinancing volumes by 45% as wider spreads in new issue markets may potentially make refinancing less attractive for callable deals this year.
-
Credit Suisse Asset Management priced its first euro CLO at the end of last week, placing the triple-A bonds at 108bps over three month Euribor as CLO investors remain largely undeterred by regulatory concerns. This week, GSO is expected to price its Crosthwaite Park CLO by Friday, with the manager floating initial price thoughts at the start of the week.
-
The US CLO primary market has officially reopened after a dearth of activity to start the new year, and while the market has not retraced all of late autumn’s spread widening, sources tell GlobalCapital that a burgeoning pipeline of deals speaks to steady investor demand up and down the capital stack.
-
GSO has entered the market with a euro CLO alongside Credit Suisse Asset Management's Cadogan Square XIII deal, which is looking at initial price thoughts of 105bp-110bp.
-
Risk retention rules spelt out last week by Japan’s Financial Services Agency have become a key regulatory concern for CLO managers that sell triple-A debt to Japanese banks, although a consensus is building among US players that exemptions for open market CLOs will be approved by regulators.
