Latest news
Latest news
Lower pricing across CLO capital structure does little to improve equity arbitrage
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
More articles
More articles
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Small and middle market focused lender Kartesia has hired Sharif Anbar-Colas as portfolio manager to focus on CLO investments. -
GlobalCapital has learned that Citigroup is marketing the equity for BlackRock’s sixth European CLO, which is expected to be around €410m in size.
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BlueBay has hired Sid Chhabra as head of structured credit and CLOs in London, and plans to establish a new range of global structured credit and ABS strategies.
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S&P Global Ratings knocked a notch off pet food retailer PetSmart’s corporate credit rating on Thursday, citing the firm’s ‘unsustainable’ capital structure and the increased risk of a distressed debt exchange after a portion of its subsidiary Chewy was transferred to private equity sponsors.
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Allocations for a €3.025bn acquisition loan from Czech investment fund PPF Group are due in the next few days, according to a lead.
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Metro-Goldwyn-Mayer (MGM), which controls the distribution of movies and TV content such as the James Bond franchise and The Handmaid’s Tale, is in the market with a new $2.5bn refinancing package this week, as traditional US media companies ramp up their borrowing to fund new content to compete with new competitors such as Netflix.
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Just one issuer had tapped US high yield investors by Thursday this week, following the quietest May since 2010 and with leveraged loans now outweighing high yield bonds for the first time since 2008.
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The US primary CLO market buzzed with activity last week, as five new deals were priced and investors eye a wave of reset transactions in the second half of the year.
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US alternative investment manager Highland Capital Management has launched a new Irish-domiciled global CLO debt fund to tap into European investor demand for floating rate corporate debt in an easily investable format.
