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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Spreads on triple-A CLOs are tightening, with investors predicting a snap back to pre-pandemic levels this summer. -
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.
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A gathering storm of bankruptcies among US retailers rolling in behind a swelling wave of loan defaults is bringing distress to the US CLO market, forcing both managers and investors to adjust their approach, writes Paola Aurisicchio.
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In the special situations arena there are few situations quite as special as a global pandemic, and few opportunities quite as large for investment firms that manage to navigate the sell-off in corporate credit, bank loans, CLOs and securitizations correctly. GlobalCapital spoke to Dan Zwirn, founder, CEO and CIO of Arena Investors, and a 25 year veteran of distressed debt and special situations investing about buying free volatility, where to play in retail, and why the CLO market has much further to fall.
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Spreads on triple-A CLO paper hit their tightest levels since the pandemic began with a deal priced last Friday, as investors report renewed confidence in the highest rated portions of the CLO capital stack.
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The Federal Reserve this week revised its Term Asset Backed Securities Loan Facility (TALF) to include a broader pool of leveraged loans eligible as collateral, a move that will clear the backup in warehouses but likely will not do much to reinvigorate the market.
