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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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CIFC Asset Management has issued a CLO committing $145,000, alongside other deal parties, as a donation to the non-profit organization Black Girls Code to support racial equality. CIFC Funding 2021-IV is the deal that has inaugurated the 'CLO Initiative for Change,' a philanthropic program that plans to make a contribution to different organizations each year. -
The Joint Committee of the European Supervisory Authorities (ESAs) has released its hotly anticipated report on European securitization. But market participants are calling it a missed opportunity, pointing out that it fails to address recommendations made by the High Level Forum on the Capital Markets Union to develop the market.
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Dagmar Kent Kershaw, former head of ICG's credit business, has joined the board of Axa Investment Managers' listed Volta Fund, which invests largely in CLO equity, alongside risk transfer deals, CLO debt and ABS.
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Bank of America has poached a CLO structurer from JP Morgan to add to its CLO team.
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AGL Credit Management has issued a new CLO with ESG language, a $600m deal priced via Bank of America. The manager has committed in deal documents not to invest in certain sectors that do not meet basic requirements.
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Spreads on European CLOs have widened at the top of the ratings stack after two big US investors scaled down their investment and supply rose thanks to a wave of refinancing. With Japanese investors withdrawing from deals at the point they are refinanced adding to the supply and demand imbalance, new supply is being held back, according to several sources.
