Latest CLO/CDO news
Japan's Norinchukin Bank revealed in its full year 2018 earnings presentation Wednesday that it grew its CLO holdings by 8.8% during the first quarter of 2019, although a look into its books shows a tenuous picture of a bank that is aggressively pursuing yield beyond its own borders.
A wave of first time CLO managers have emerged since the market began its astonishing bull run in 2014. Standout among them has been CBAM, which has built an $11bn CLO platform in less than three years, in part thanks to a lucrative partnership with a storied Kansas life insurance company.
A panel of experts at IMN’s Leveraged Loan and CLO conference in New York on Tuesday said that the Alternative Reference Rates Committee (ARRC) is set to release fallback language next week that would prescribe how Libor-linked securitizations would adopt an alternative benchmark in the absence of the traditional inter-bank rate.
As it continues to boost its platform, CLO manager DFG Investment Advisers announced on Tuesday that it has hired John Hwang as a director in its leveraged credit team.
The new issue pipeline in Europe is showing no sign of slowing down following what was one of the busiest weeks of the year so far, as issuers tee up three new deals, including the first public auto ABS to be issued by Mercedes-Benz in Italy.
A team of researchers at Wells Fargo led by David Preston said in a webcast on Friday that managed CLO portfolios saw a decline in quality as managers in aggregate failed to build par and bought lower credit quality loans.
Credit Suisse has promoted Sheenal Thaker to its EMEA CLO corporate asset finance team, based in London.
BNP Paribas on Wednesday announced that it has hired a new US chief credit strategist.
Wynne Comer has left Bank of America Merrill Lynch after 12 years and will be taking on a role at AGL Credit Management, the new private credit firm opened in March by CIFC-founder Peter Gleysteen.
Paris-based Ostrum Asset Management is expanding into US markets as its institutional investors look to diversify into US alternative asset strategies, it said on Tuesday.
Go to GlobalCapital's Securitization data pages for our dealflow database, plus details of priced European and US CLOs and structured finance bookrunner league tables.
Latest securitization people & markets news
- Planned sale of Tesco mortgage book kicks up fears of fresh ‘mortgage prisoners’
- DFG poaches Crescent Capital exec
- Second CMBS 2.0 default points to struggling UK retail sector
- Commission’s Berrigan pours cold water on EU safe asset, ESBies
- Credit Suisse adds to EMEA CLO team with new promotion
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Latest news by market and league table performance
|Rank||Lead Manager/Arranger||Total Volume $m||No. of Deals||Share % by Volume|
Bookrunners of Global Structured Finance
|Rank||Lead Manager||Amount $m||No of issues||Share %|
|3||Wells Fargo Securities||31,218.81||89||8.49%|
|4||Bank of America Merrill Lynch||28,936.60||91||7.87%|