Latest CLO/CDO news

• Dollar demand swarms for aggressive LBO debt

  

  US investors have scrambled for the bonds and loans backing leveraged buyouts of Thomson Reuters’ Financial & Risk business and Dutch chemical company AkzoNobel, with pricing coming tighter than initial thoughts despite aggressive covenant packages.

  • 19 Sep 2018

• Former co-head of BlackRock CLO biz joins Tetragon

  

  Scott Snell, former co-head of BlackRock’s US CLO business, has joined Tetragon Credit Income (TCIP) as a CLO portfolio manager, with the firm planning to expand the range of its investments in CLOs.

  • 19 Sep 2018

• NY Fed winds down last of Bear Stearns bonds

  

  The Federal Reserve Bank of New York said on Tuesday it had completed the sale of the remaining securities in the $30bn Maiden Lane LLC portfolio of mortgage securities it bought to facilitate JP Morgan’s acquisition of Bear Stearns in March 2008.

  • 18 Sep 2018

• AfDB leads diverse push for SSA risk transfer

  

  The African Development Bank’s $1bn synthetic securitization is not its first risk transfer transaction, and will not be its last. The bank has marked itself out as a leader in this sphere, though the effort to get such techniques to work is also highly collaborative.

  • 18 Sep 2018

• Breakthrough for supra ABS as AfDB debuts

  

  The African Development Bank has become the first supranational bank to use a securitization sold to private investors to free up balance sheet capacity. The deal, four years in the making, demonstrates a new technique that could expand development banks’ firepower to promote development.

  • 18 Sep 2018

• EC’s guarantee fund a useful ally for markets

  

  The European Commission has unveiled a portfolio of financial guarantee transactions it is doing to support development in Africa and regions bordering the EU. Among them are two programmes conducted by the African Development Bank, including its new synthetic securitisation.

  • 18 Sep 2018

• Trio of US CLOs price as JPM raises refi forecast

  

  The US CLO market is on track to match and possibly exceed last year’s record volumes for new issue deals, according to JP Morgan on Monday, but the bank has raised its forecast for refinancing and reset transactions as more managers look to boost equity returns in a tight loan market.

  • 17 Sep 2018

• Refinitiv boosts loans, slims bonds in buyout package

  

  Banks leading the financing package for Blackstone’s leveraged buyout of Thomson Reuters’ Financial & Risk business — soon to be renamed Refinitiv —have shifted some of the funding away from the bonds and into the loans, increasing leverage in the deal and mirroring the issuance trends seen in leveraged finance this year.

  • 17 Sep 2018

• September 15, 2008: the day markets changed

  

  Traders, bankers, lawyers, brokers tell their stories of what happened when Lehman Brothers went down, how it ruined some businesses and created room for others, and how it has changed financial markets — for better and worse.

  • 13 Sep 2018

• Heat builds in US middle market as regulators loosen restraints

  

  Billions of dollars are flowing into direct lending funds targeting US corporate loans to small and medium sized companies, despite signs of weakening underwriting. Unshackling leverage constraints on business development companies and reopening the CLO market to them after a two year absence may further overheat the market, say critics.

  • 13 Sep 2018

CLO/CDO news archive