Latest news
Latest news
Changing issuance patterns, tight mezzanine spreads and investor demand deliver bumper crop of deals
Deal follows Macquarie's acquisition of Spire, which issued previous Aurium CLOs
Pim van Schie, a portfolio manager at Neuberger, discusses rising investor appetite for CLO mezzanine tranches
More articles
More articles
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Partners Group has returned to the US CLO market this year, pricing a rare CLO including an ESG factor screen, a trend which is sweeping international markets and which is slowly gaining traction in the US.
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A trio of banks have arranged a $697.84m CLO priced by GoldenTree Loan Management, in its first transaction of the year. -
Fitch Ratings is poised to revise most of its CLO tranches outlooks from negative to stable, following a revision of its CLO coronavirus stress scenario, which is considered no longer representative of the near-term risks for CLOs.
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More managers are coming into the market to take advantage of tighter spreads, and refinance or reset CLOs while new CLO issuance is expected to really take off in the next two weeks.
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Green securitization is firmly on the menu as part of the European Union's push for sustainable investment. But one corner of the market is proving slow to change, despite taking baby steps in that direction.
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Credit Suisse Asset Management (CSAM) has priced the largest CLO in the past two years, a $850m transaction with a three year reinvestment period called Madison Park Funding XLVIII.
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Anchorage Capital has mandated Goldman Sachs for its fourth European CLO, a €411.1m transaction offering eight tranches including minority equity.
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Financing for Carlyle’s purchase of Flender, a turbine gearbox manufacturer, could set a precedent for leveraged finance, which has lagged behind other debt markets in adopting instruments linked to environmental, social and governance conditions. Other issuers are sure to follow, but the market may have to solve other challenges before this can become a market standard.
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Seix Investment Advisors has successfully refinanced a CLO using an applicable margin reset (AMR) auction, slashing senior debt costs by 37bp.
