CLO/CDO

ABS Daily

  • CLO performance gap opens between primary and secondary

    A gap in tranche performance has opened up between the secondary and primary market for triple-A rated CLO notes in euros, after rapid selling of double-B and triple-B rated notes forced spread compression off the back of worsening macro conditions and end-of-quarter capital requirements.

  • Investcorp announces rapidly ramped CLO with BNPP

    Investcorp announces rapidly ramped CLO with BNPP

    BNP Paribas has announced Harvest CLO XXV for Investcorp Credit Management, the second post-Covid CLO issue for the manager. Though its 45% ramping is lower than usual for a new CLO, this allowed the manager to build the portfolio from August, in full knowledge of second quarter figures for the underlying companies.

  • CLO investors line up for new AMR repricing auction

    CLO investors line up for new AMR repricing auction

    A CLO managed by Seix Investment Advisors will be repriced through an applicable margin reset (AMR) this month, with investors set to submit bids in an online auction that will take place on September 29.

  • Credit Suisse launches private credit venture

    Credit Suisse launches private credit venture

    Credit Suisse has teamed up with its biggest shareholder to launch a private credit lending platform, bringing to fruition a plan that been beset by delays and high profile departures.

  • Euro CLOs' most sold loan is Swissport

    Euro CLOs' most sold loan is Swissport

    Swissport has been by far the most sold asset in European CLO portfolios since March, with €384m out of a €900m facility traded, according to trustee reports and Bank of America research. Managers exited the loan at an average price of 74. In an agreement reached two weeks ago, all secured debt will convert to equity, with unsecured debt extinguished.

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