Latest news
Latest news
Refis, resets and new issues all on offer as Five Arrows, Apollo, Neuberger Berman, Ares and Oaktree price deals
European CLO ETFs' total holdings near €2bn
International Finance Corp’s drive to introduce development finance to the CLO market is advancing. Its second deal of $509m had more investors, more tranches and better pricing, supporting its rapid growth
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Triple-C loans remain a "conundrum", for many market participants — but improving economic conditions and high prices for the loans means that this collateral is less frightening than it may originally appear, said a panellist at the IMN Conference on CLOs and Leveraged Loans. -
The CLO market has entered a new expansionary period with more investors in deals and minimal leveraged loan defaults. A strong performance for the asset class in 2020 has changed the narrative outside of financial markets that CLOs are systemically risky, said panelists at IMN's conference on CLOs and Leveraged Loans.
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Palmer Square Capital Management has reset a 2015 CLO that was partially refinanced four times in six years and it added a single-B tranche to its CLO, the most junior debt liability usually issued to satisfy investor demand from hedge funds.
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A CLO structurer has left Morgan Stanley to join HPS Investment Partners as a vice-president.
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The International Organization of Securities Commissions (IOSCO) has launched a series of surveys ‘to understand the potential conflicts of interest and misaligned incentives among participants in the leveraged loan and CLO markets’, inviting bank lenders, CLO investors, loan sponsors, and CLO managers to give them feedback.
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Harbor Group International has closed its debut CLO backed by commercial real estate loans. A surge of CRE CLO deals are expected this year as issuers securitize a backlog of loans originated before the Covid-19 outbreak.
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Partners Group is marketing Penta CLO 9, a new CLO with a score related to environmental, sustainable and governance factors, following three similar transactions. But market participants question whether ESG scores are likely to turn the CLO market green.
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Alcentra, the alternative fixed income investor owned by BNY Mellon, has raised $484m in its fourth structured credit opportunities fund.
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The explosion of special purpose acquisition companies (Spacs) may have drawn widespread criticism as evidence of an over-heating equity market but in turn the CLO market has benefited. Spacs have pumped equity into a number of highly leveraged companies, enabling lenders to get their money back. This has allowed CLO managers to enjoy a boost in credit quality, writes Paola Aurisicchio.
