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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Kayne Anderson Capital Advisors has priced a $293m CLO via JP Morgan, its first since the outbreak of the pandemic. -
Oliver Wriedt has stepped down from his role as CEO of DFG Investment Advisers to start his own investment firm, according to CLO market sources.
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Angelo Gordon has broken the record recently set by Albacore to print new post-coronavirus tights, with Bank of America leading the senior notes to land at a discount margin (DM) of 150bp.
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Triple-A spreads on new issue CLOs hit 160bp this week, the tightest since the start of the pandemic, as GSO priced a $361m transaction arranged by BNP Paribas.
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Investcorp Credit Management announced on Tuesday that it has hired Brian Marshall to its US credit business.
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Morgan Stanley Investment Management has finalized its acquisition of the CLO assets of Assurant, according to CLO market sources.
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CLO managers are in talks with banks in hopes of opening new warehouses in coming weeks, paving the way for a new wave of post-Covid CLO issuance — though firms will be emerging into a markedly more difficult environment, sources say.
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First time CLO issuers in Europe are seeing little to no premium on their market debuts, with AlbaCore’s market debut pricing its senior notes inside Investcorp’s 24th deal and the second issue from MacKay Shields. This follows strong debuts from CBAM Europe and BlueBay, which also printed inside or in line with more established issuers — though lower leverage may have helped.
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Carnival Corporation, the world's largest cruise line, finally secured a dual currency leveraged loan on Friday, following its bond sale in April. The deal is expected to provide a financial lifeline for the company, which has been hard hit by the economic effects of the coronavirus pandemic.
