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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Loan funds are taking a growing share of new issuance in the leveraged loan market, putting the squeeze on CLO managers who are fighting for allocations to fuel new structures, according to a report from Fitch Ratings. -
US CLOs are grinding tighter as buyers reach for yield, but CLO investors say that the bonds are still cheap and provide solid relative value compared with other fixed income assets.
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Private equity firms have jumped on the recent rally in ABS spreads to dust off loan portfolios for public syndication. The structures are bespoke, and the deals are one-offs — a far cry from the market being just another funding tool for banks. But that's OK.
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US CLO triple-A paper is attracting strong demand from buyers across the globe. But there is disagreement among investors over the relative value of paper from first and second tier managers.
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Issuers priced three new European CLOs at the end of last week, as well as the repricing of Carlyle’s 2013-2 deal, as a swarm of new and returning investors pile into European structured credit.
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Axa Investment Managers has merged its alternative solutions and structured finance teams to form a single alternative credit offering as investors hunt harder than ever to find elusive yield.
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The CLO market is bracing itself for a long awaited downturn in US credit, amid talk that the current economic cycle is coming to an end.
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Issuers are cramming the US CLO pipeline with new deals, rushing to close transactions before the US presidential election on November 8 and racing to to the finish line for risk retention implementation on December 24.
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US CLO debt is drawing heightened interest from investors in other corners of the fixed income market, as the bonds remain cheap to other assets and offer attractive spreads for buyers looking for a pickup in yield.
