Top Section/Ad
Top Section/Ad
Most recent
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
More articles/Ad
More articles/Ad
More articles
-
Plenty of CLO managers are still failing their weighted average rating factor (WARF) tests on both sides of the Atlantic, limiting their capacity to buy new lower-rated deals, even as banks bring some of their most challenging offerings to market as the quarter closes.
-
Extra large deals continue to flood into the market, with Elmwood Asset Management resetting its $930m 2019 deal Elmwood CLO II. -
Crescent Capital has partially refinanced the first CLO to include an applicable margin reset (AMR) auction option in its documents, making use of the online process. More online repricings are expected to follow, as the market environment makes the refi process attractive and it can cut costs and administrative challenges for CLO managers.
-
Japanese regional banks are turning their attention to the CLO market, even as the country’s best-known anchor buyer, Norinchukin, remains on the sidelines. These institutions are struggling with ultralow interest rates and are seeking opportunities abroad, attracted by the asset’s strong performance during the pandemic.
-
CLO managers have begun to reset their Covid-era deals, slashing liability costs, as illustrated by AGL Credit Management, which shaved 114bp off the margin of a senior tranche originally priced in April 2020.
-
Ivy Hill Asset Management, an affiliate of Ares Management, has returned to the CLO primary market after a three year hiatus with a CLO backed by loans to middle market companies.
