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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CVC Credit Partners’ first European CLO of the year was priced on Thursday, with spreads on the triple-As grinding back to the 150bp level. -
Improving credit fundamentals are helping the European CLO market to wake up after a sluggish start to the year, as three managers look to hit the primary market with new deals by the end of the month.
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A break in macroeconomic volatility over the past several weeks has opened up a window for secondary spreads in many ABS asset classes to stabilise, and in some cases reverse some of the widening that took place over the first six weeks of 2016.
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A break in market volatility in recent weeks has injected new life into the US CLO market, following a tepid start to 2016.
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Highbridge Capital Management has priced its latest US CLO, as the primary market shows renewed vigour after a slow start to the year.
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Consistent widening of the CLO market so far in 2016 is weighing heavily on collateral managers, and some CLO market players have started to question the long-term sustainability of the space if spreads continue to widen.
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Measures to ease risk retention burdens on the CLO and CMBS markets received the approval of the House Financial Services Committee on Wednesday.
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New issuance picked up in the CLO market this week, but market confidence remains low amid volatile macroeconomic conditions and worries over the sector's high exposure to troubled corporate credit.
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Credit Suisse Asset Management (CSAM) and Neuberger Berman investment advisers have priced their first CLOs of the year.
