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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CVC Credit Partners and Spire Partners have announced new European CLOs, CVC Cordatus Loan Fund XVII and Aurium CLO VI, as the European market slowly gets back to normal. -
Shearman & Sterling has hired Mark Chorazak as partner in its global financial institutions advisory and financial regulatory practice in New York.
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Investcorp's Credit Management business is one of the largest CLO issuers in Europe, with 24 deals under its belt, and a firm focus on the large cap, broadly syndicated market. GlobalCapital spoke to its boss, veteran leveraged finance investor and banker Jeremy Ghose, about how the coronavirus crisis has changed the LBO market, what CLOs will look like in the future, and the grim outlook for direct lending.
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European corporates are asking lenders to switch their loans to semi-annual interest payments, in some cases, which could feed through to CLO coupons as well.
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Spreads on triple-A CLOs are tightening, with investors predicting a snap back to pre-pandemic levels this summer.
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GSO/Blackstone and Napier Park both priced post-covid CLOs on Thursday, with GSO finding new tights for the European CLO market since its reopening.
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Owl Rock Capital, an alternative asset manager focused on middle market credit, has hired Jesse Huff from Oaktree Capital Management.
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The possibility of CLO downgrades from the major rating agencies is creating a difficult situation for insurance companies, many of which have bulked up their investments in lower rated bonds in the last two years.
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CLOs structured in the post-pandemic world will see tighter documentation, but more flexibility on ratings, as the market adapts to the lessons learned through the Covid-19 crisis and ushers in a new ‘CLO 3.0’ era for the European market, according to Investcorp Credit Management boss Jeremy Ghose.
