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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Mizuho International is pushing to upgrade its structured solutions business with two experienced banker hires, but has indicated a retreat from high yield by saying it will not replace its exiting European head of high yield credit trading.
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The touting of Crossover tranches as a hedge for CLO investments has prompted debate in the market, with some seeing the instrument as adding a useful tool while others remain sceptical.
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Greenwich-based private equity firm Littlejohn & Co. debuted in the US CLO market via its credit arm Wellfleet Credit Partners, this week.
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A swathe of deals where Deutsche Bank is a counterparty are subject to proposals to allow it to stay on in its transaction roles, following confirmation of the bank’s A3 rating with Moody’s.
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After initially asking its CLO management subsidiary Telos Asset Management to find a third party investor to provide the first-loss piece of its latest CLO, Tiptree Financial has stepped in to do so itself — although it is still in talks with potential financiers.
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Carlyle has restructured Carlyle Global Market Strategies Euro CLO 2013-1 to meet Volcker rule requirements, according to Bank of America Merrill Lynch research. It is the first Volckerisation of a European CLO, the analysts said.
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Pricing has widened on the £300m sterling cov-lite loan backing Clayton Dubilier & Rice’s acquisition of Motor Fuel Group, the UK petrol station forecourt operator. -
US business development company Prospect Capital is planning up to three securitizations in the coming months, as well as spin-offs of three of its investment platforms.
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Eric Bothwell has joined Ashurst’s New York CLO practice as a senior consultant and is looking to rebuild after the firm lost nine senior lawyers in two months.
