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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Leveraged debt investors are not quite ready to retreat from their position in Canadian drug maker Valeant Pharmaceuticals, despite long-term advocate Bill Ackman abandoning his holding in the company on Monday. -
GlobalCapital is pleased to announce the nominees for its annual European CLO awards, to be presented at IMN's 4th Annual Investors' Conference on European CLOs and Leveraged Loans on April 5.
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Sentiment among US CLO investors is nearing a fever pitch, as buyers pile into new offerings despite debt spreads plunging to their tightest levels in recent memory.
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CLO equity is the “belle of the European credit ball” because of the level of returns investors enjoyed in 2016, said JP Morgan analysts on Monday. But with large risk retention vehicles muscling in and loan repricing taking its toll, the landscape is set to get rougher.
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Canadian drug maker Valeant Pharmaceuticals is hoping to complete a large debt refinancing which will extend maturities and loosen covenants, though leveraged loan investors are still likely to lap up the new debt, sources said.
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Prytania, a structured credit boutique, has formally split its corporate structure, separating its advisory and solutions business from investment management.
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The primary CLO market has sprung to life following the SFIG Vegas conference held last week, with new transactions set to finally overtake the refinancing market that has dominated the pipeline in 2017.
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Alcentra’s latest fundraising effort for its European direct lending strategy has closed, with recent commitments of €4.3bn taking the firm’s committed capital for the lending strategy to more than €5.7bn.
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Chenavari Investment Managers priced its third ever European CLO at its tightest levels last week, though triple-A spreads were a touch wider than other recently issued deals as sources say manager tiering is creeping into the European market.
