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Bot claims funding is ‘cheaper than peers who borrow from independent banks or credit funds’
Innovation and ambition have been hallmarks of mergers and acquisitions activity this year, but there are some signs of weakness in private equity
A slow destruction of misallocated investment is more likely than a sudden stop
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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. -
US private placement agents have struggled to attract their typical stable of well rated corporates to their market this year. Public bond markets have proven too cheap for PP funding to compete and the European wing of the market has suffered as a consequence. But instead of waiting for the scales to tip back, agents should find new European borrowers from the financial institutions sector.
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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.
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Neuberger Berman has re-entered the European CLO market for the first time since the financial crisis, with a deal including a new feature which measures how well its portfolio matches UN sustainable development goals.
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CLO managers bringing new deals need lower rated, higher yielding loans to come to the primary market, after the European market saw a surfeit of better quality supply in the first months of the year.
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Dollar bonds from high yield Chinese real estate companies tightened in the secondary market on Tuesday, after plummeting in the run up to the Lunar New Year break amid news from firms under liquidity pressure.
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