Latest news
Latest news
The EC’s response is changing widespread and long-standing CLO market practice
SRT and ABS appear to be the focus of efforts to revitalise securitization in Europe
Response on EBA website to a 2021 question blocks conditional sale agreements
More articles
More articles
-
Onex Credit Partners and Bain Capital Credit each priced CLOs with five year reinvestment periods on Wednesday, the latest managers to return traditional CLO structures that were upended by the coronavirus. -
Crestline Denali Capital, LCM Asset Management, Anchorage Capital Group and HPS Investment Partners are the managers expected to price CLOs in the coming week, as the primary pipeline sees one last burst of activity before election headlines dominate.
-
Golub Capital priced the first CLO to take advantage of the Term Asset Backed Securities Loan Facility last week, selling a $678m static transaction arranged by Société Générale backed by a pool of mostly middle market loans. The deal, expected to close on October 30, may pave the way for more middle market managers to tap TALF funds, but sources remain skeptical that the program will have much impact on the wider CLO space.
-
Canadian insurer Sun Life Financial said it has agreed to buy 51% of Crescent Capital Group for up to $338m to expand its asset management business into mezzanine debt, middle market lending, high-yield bonds and broadly syndicated loans.
-
HalseyPoint Asset Management has priced its second CLO with the applicable margin reset (AMR) feature embedded, broadening the use of the alternative method of repricing CLO securities to over $4.4bn of CLOs since 2017.
-
The middle market CLO segment is slowly regaining momentum, with more managers coming back to the market to take advantage of tighter spreads and a clearer picture of the financial impact of coronavirus on middle market companies.
-
A common feature of the US CLO market known as the loss mitigation loan has begun to make its way into European deals for the first time, continuing the trend of European managers borrowing features from US peers to deal with the effects of the Covid-19 crisis.
-
Credit Suisse Asset Management has closed its first CLO equity focused fund, raising $265m from investors.
-
Citi arranged the reset last week of a $503.9m CLO managed by Elmwood Asset Management, extending the deal with a new five year reinvestment period as CLOs slowly return to pre-Covid format.
