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GC Asia
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Rhode Island pension fund backs Sycamore Tree and Neuberger for CLOs
Rhode Island Employees' Retirement System has allocated $250m to Sycamore Tree and Neuberger Berman to invest in CLO equity and mezzanine tranches, following a new strategy that targets CLOs rather than real estate investment trusts (Reits) and master limited partnership (MLPs).
21 Jun 2021 -
Santander said to be among banks targeting first synthetic STS deals
European banks are rushing to finalise the first synthetic ABS transaction to achieve a ‘simple, transparent and standardised’ (STS) verification. The debut deal, which marks a turning point for the significant risk transfer market, has already been signed and is set to arrive in the coming months.
21 Jun 2021 -
Risky tech loans predicted to feature in more ABS
Loans to fast growing but unprofitable software companies are finding their way into boundary-pushing securitizations. Investor appetite for yield could well bring this riskier product from niche to mainstream.
17 Jun 2021 -
Eldridge spins off structured credit team to launch new CLO investor
Eldridge Industries has carved out part of its structured credit team to launch a new CLO investment firm, named Panagram Structured Asset Management.
16 Jun 2021 -
Bardin Hill reprices 2017 triple-A CLO notes
On Monday, Bardin Hill Investment Partners refinanced the senior notes of a CLO issued in 2017, repricing the tranche at 108bps over three month Libor.
15 Jun 2021 -
Redding Ridge priced $707m CLO
Apollo subsidiary Redding Ridge priced a $707m CLO on Friday. The deal is the largest new issue of the year and signals that large deals may be retruning returning to the CLO market after almost disappearing during the Covid-19 pandemic.
14 Jun 2021 -
CLO investor Sancus leads wave of new managers
CLO investor Sancus Capital Management became a manager last week when it priced its debut deal. Pacific & Plains Capital, another newly formed CLO business, is also expected to join the list of CLO managers with a first deal on the horizon.
10 Jun 2021 -
AIG resets a Covid deal, slashing senior notes by 89bp
CLO issuers are flooding to market to refinance Covid-era deals. On Tuesday, American International Group (AIG) Asset Management joined this wave by resetting AIG CLO 2020-1, slashing senior notes by 89bp.
09 Jun 2021 -
Barclays hires director of CLO syndication
The former head of US CLO syndication at Deutsche Bank, David Ryan, has been hired by Barclays as director on the CLO syndicate desk in the New York office.
08 Jun 2021 -
AB lauds tech approach as it closes second CLO
Market turmoil over the last year is encouraging more CLO managers to hone their technological tools to build better portfolios and to navigate future stress in markets. AllianceBernstein closed its second ever BSL CLO in May and says the success of its programme can be attributed to a series of technological instruments it uses to analyse its portfolio.
08 Jun 2021
CLO/CDO
