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
-
Natwest Markets' announcement of a mandate to market PGIM Fixed Income’s first sterling CLO outing has stirred interest from investors and other CLO managers now alert to the opportunities if the deal lives up to its hype. -
The sheer volume of CLO transactions has swamped market infrastructure, panellists at IMN’s investors’ conference on CLOs and leveraged loans said on Thursday, which will likely be a restraint on volumes over the remainder of 2018.
-
Fiscal stimulus and economic growth should keep the credit cycle going for another two years, but the weakening of investor protections will damage loan recoveries when the market turns, said panellists at an IMN investors’ conference on CLOs and leveraged loans on Wednesday.
-
North Sea oil and gas operator Ithaca Energy cancelled a planned $350m junk bond on Tuesday, citing "market terms and conditions", after it had earlier tightened covenants on the deal.
-
US investment manager Barrow, Hanley, Mewhinney & Strauss has hired two portfolio managers to set up a new bank loan fund and to lead the firm’s efforts across sub-investment grade US corporate debt.
-
LoanCore Capital priced the largest commercial real estate CLO of the year on Friday, selling the $1.05bn LNCR 2018-CRE1 via lead arrangers Goldman Sachs and Morgan Stanley, and co-managers Wells Fargo and Jefferies.
-
Permira Debt Managers has hired a CLO structurer from OZ Management (formerly Och-Ziff Capital Management) to structure deals for the firm’s new Providus European CLO platform.
-
Oliver Wriedt, co-head of credit investment firm CIFC, has left the business to pursue other opportunities, according to the firm.
-
CLO lawyer Sean Solis has left Dechert to join Milbank, Tweed, Hadley & McCoy in New York, the firm said on Monday, with the firm looking to capture market share from new entrants drawn to the sector by the rollback of risk retention rules.
