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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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Wellfleet Credit Partners and Carlyle Group priced new CLOs last week, adding to a growing pool of new deals that have cleared the pipeline in recent weeks as investors and managers settle into a stabilized market, according to sources. -
European CLO managers have begun opening up warehouses again, according to two sources. Newly collateralised Covid-19 era CLOs are set to emerge, as the market heads into 2021 following a primary issuance drop-off as a result of the pandemic.
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Kansas-based CLO manager Palmer Square Capital Management is expanding its credit business into Europe.
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More CLO managers are including the applicable margin reset (AMR) feature in new deals, broadening the use of the alternative method of repricing CLO securities since it was first tested at beginning of this year.
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First Eagle Alternative Credit is expanding into asset-based lending, hiring Larry Klaff and Lisa Galeota to lead the new effort.
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Columbia Management Investment Advisers has priced a CLO with the ability to reprice the bonds via applicable margin reset (AMR), an alternative method of resetting the price of the securities that was tested for the first time at the beginning of this year.
