Latest news
Latest news
Manager tightens triple-A pricing by 27bp and avoids refinancing some junior mezzanine notes
Spread on triple-A rated notes 4bp wide of recent tights
Deal will bring fourth major multilateral development bank to the market
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The Blackstone-led consortium of investors buying out Thomson Reuters’ Financial & Risk business is understood to be looking to decrease the amount of financing it needs from the euro market for the deal’s $13.5bn debt funding package, with demand appearing better for dollar bonds, according to investors. -
The SEC has issued a no-action letter that will allow Golub Capital and other middle market lenders to issue CLOs through a business development company (BDC) without falling foul of conflicting regulations covering risk retention and investment companies, a move that could be a further boost to US middle market corporate lending.
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Arranging banks have released price talk on the $8bn of loans financing the leveraged buyout of Thomson Reuters’ Financial & Risk business.
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Investec has filled a newly created sales position with a hire from UniCredit in a bid to expand its leveraged buyouts business.
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Spire Partners has hired Sumeet Sikka as senior credit analyst to provide generalist coverage as the CLO firm grows assets under management and looks to broaden the companies on its radar.
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The role of rating agencies in contributing to the 2008 financial crisis should not be forgotten. Inflated ratings on securities that turned toxic played a major part in the build-up of the financial bubble that later burst with costly consequences.
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The US CLO primary market has shown little sign of relenting in August, with three new deals already wrapped up by Wednesday, following six new deals and five reset/refinancing transactions last week.
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Carador Income Fund, a CLO investment vehicle set up in 2006 and managed by GSO/Blackstone Debt Funds Management, is set to give shareholders a vote on whether to wind up the fund, with an option to roll over into another vehicle for those still interested in CLO investment opportunities.
