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Latest news
Leveraged loans in stressed sectors like software carry refinancing risk
Manager prices triple-A notes inside where it placed previous new issue
Deal’s triple-A notes are fully syndicated to investors, despite volatility from Iran war
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If 2020 was a year when sectors and broad virus news drove the market, 2021 will be the year of the credit picker, according to panellists at IMN's ABS East Virtual 2020 event, with individual loan selection more crucial than ever.
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Institutional investors are on the verge of a huge opportunity in private debt, as assets migrate out of the banking system, according to Thierry Adant, who joined Newmarket Capital this week as its chief investment officer.
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The Term Asset Backed Securities Loan Facility (TALF) program will expire at the end of the year, but, despite claiming to target the CLO market, it has proved disappointing, with only Golub Capital issuing a deal which could be bought by the program. -
There will be winners and losers among CLO managers as a result of the Covid crisis, leading to consolidation in the sector, IMN's ABS East Virtual 2020 heard this week. Panellists tried to rethink the post-pandemic CLO landscape.
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Law firm Alston & Bird has hired a three person CLO team from Cadwalader, Wickersham & Taft.
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Owl Rock Capital Partners priced a rare tech-focused middle-market CLO primarily backed by loans to companies in software, media and services, and health care technology.
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Arranger Barclays priced its €378.7m CVC Cordatus Loan Fund XIX at 106bp on Wednesday, the tightest senior spread since March, making the arbitrage between assets and liabilities attractive again for equity investors.
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CBAM priced a $329M CLO on Tuesday, joining a handful of managers that are gradually pushing out reinvestment periods back to the pre-Covid five year standard.
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A wider market rally boosted by positive vaccine news from Pfizer, Moderna and the University of Oxford has begun feeding into the European CLO market, tightening secondary spreads while primary markets remain more sluggish.
