Latest CLO/CDO news

  • PE backed defaults climb in US levfin

    Claire’s Stores was the latest retailer to file for Chapter 11 bankruptcy protection on Monday, joining a handful of other private equity owned companies that became credit casualties last week. While CLO managers have generally traded out of the names, some older deals might be stuck with the loans, wrote Wells Fargo analysts on Monday.

    • 19 Mar 2018
  • Spire Partners planning new CLO debt fund

    UK CLO manager Spire is planning to launch a new open ended fund of around €200m-€300m that will invest in European CLO equity, debt and warehouse first loss positions.

    • 15 Mar 2018
  • Uber: no banks, no bother

    Uber’s self-syndicated leveraged loan is not just another example of big tech’s ambitious approach to the capital markets but a tribute to the hot credit markets that make these efforts fruitful.

    • 15 Mar 2018
  • US CLOs enjoy busiest ever start to the year

    More than $26bn of new issue CLOs have been priced in the year so far in the US, on top of $22.1bn of refinancing and reset deals as managers look to wring more returns from existing deals. The combined volumes in the first two months of the year are the highest in the CLO market’s 20-year history, said JP Morgan on Tuesday.

    • 13 Mar 2018
  • US Steel out with high yield refi after Trump tariff boost

    US Steel was in the US high yield bond market on Tuesday, one week after announcing it would restart a steelmaking facility in Illinois in anticipation of a boost in demand as a result of US president Donald Trump slapping a 25% tariff on imported steel.

    • 13 Mar 2018
  • Toys ‘R’ Us, Bon-Ton under credit spotlight

    Toys ‘R’ Us is discussing with investors the outlook for the company on Monday — with a restructuring proving elusive, there is talk of liquidating the company, which would be a blow to unsecured lenders.

    • 12 Mar 2018
  • Investor demand for exotic CLOs spurs new structures

    Tennenbaum Capital Partners last week sold $147.9m of publically rated debt backed by a potential direct lending portfolio to a handful of insurance companies, before any of the assets had been originated. In a hot CLO market, talk of more exotic financing structures and riskier collateral is growing.

    • 06 Mar 2018
  • Deal structures to get more complex in growing CRE CLO market

    Bankers and issuers said at the SFIG Vegas conference this week to expect commercial real estate CLOs to get more complex as what was once a small corner of the CMBS market grows rapidly.

    • 01 Mar 2018
  • PGIM pushes for tighter terms on Libor replacement

    PGIM’s Ronni Neeman, vice-president, structured products, said that his institution was pushing CLO managers to put firmer terms on replacing Libor in their deal documents, cutting down on manager discretion — which could be used to lock in low fixed interest rates if the benchmark is no longer published after 2021.

    • 27 Feb 2018
  • LSTA win could be just the start for reg easing

    The Loan Syndication & Trading Association’s win over federal regulators exempting CLO managers from risk retention could be just the beginning for the loosening of regulatory reform, said market pros speaking at the SFIG Vegas conference on Monday.

    • 27 Feb 2018

CLO/CDO news archive

Capital markets data from GlobalCapital

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

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GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 Bank of America Merrill Lynch (BAML) 7,026 25 11.95
2 Citi 6,449 21 10.96
3 BNP Paribas 5,093 18 8.66
4 Barclays 4,040 11 6.87
5 Lloyds Bank 3,615 14 6.15

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 23,450.22 64 12.57%
2 Bank of America Merrill Lynch 21,899.30 57 11.74%
3 Wells Fargo Securities 16,244.58 49 8.71%
4 JPMorgan 13,192.69 44 7.07%
5 Credit Suisse 10,691.12 19 5.73%