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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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The US CLO market is gaining positive traction in the first quarter of the year, with strong demand from investors, and spreads continuing to tighten, despite the absence of the Japanese banks, traditional anchor buyers of the senior tranches.
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A boom in CLO refinancing and reset volumes, alongside intense new issue activity, is leading to worries about whether banks, rating agencies, law firms and other deal parties have the capacity to cope.
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CVC Credit has pushed triple-A spreads to tights not seen since March 2018 with its new CLO issue, Apidos XXXV.
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Allen & Overy has hired White & Case veteran Jake Mincemoyer as head of its US leveraged finance practice, based in New York.
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AGL Credit Management and Palmer Square Capital, among the most active managers in 2020, have returned to the market with new issue deal with five year-reinvestment periods, as tightening pricing lets managers term out their structures. But shorter deals continue to be attractive, especially for mezz buyers.
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Eagle Point Credit Management, a specialist asset manager focused on investing in CLO securities and portfolio debt securities, has hired Seth Weinstein as director of business development, a newly created position.