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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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Middle-market CLO issuance is set to accelerate towards the hectic pace set by broadly syndicated loan deal, driven by the large primary backlog and attractive market spreads. Top tiers managers are expected to issue more middle-market (MM) CLOs throughout this year and smaller managers are coming back to the market with their first deals of the year. -
Crédit Agricole has struck a new synthetic risk transfer deal with the International Finance Corporation, in which it will shed about 90% of the risk on $4bn of emerging market trade finance loans. The IFC expects to use securitization more to help banks in developing countries cope with the effects of the coronavirus pandemic.
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Eagle Point Credit Management has added Sam Yoon to its CLO investment team to assist in CLO debt trading and portfolio management. Yoon will report to Dan Ko, principal and portfolio manager at Eagle Point.
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York Capital's CLO business has struck a strategic deal with Kennedy Lewis, which will see the manager rebranding to become 'Generate Advisors', and Kennedy Lewis commit $200m of equity to the shelf.
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Sources in the CLO market have expressed doubt over the CLO trading platform known as Project Octopus launched last week by Citi and Bank of America, questioning whether the platform will succeed in expanding to a critical mass with enough other banks involved. However, some active in the nascent electronic trading market, such as KopenTech, welcome the venture as an endorsement of their vision.
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WhiteStar Asset Management, the Texas-based credit manager which sponsors the Trinitas CLO shelf, has opened a London office, appointing Gordon Neilly to run it as executive chairman of WhiteStar Asset Management Europe.
