Latest news
Latest news
Changing issuance patterns, tight mezzanine spreads and investor demand deliver bumper crop of deals
Deal follows Macquarie's acquisition of Spire, which issued previous Aurium CLOs
Pim van Schie, a portfolio manager at Neuberger, discusses rising investor appetite for CLO mezzanine tranches
More articles
More articles
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Crédit Agricole could expand its synthetic securitization programme to cover more asset classes, after closing a deal to move €1bn of European corporate loans off its balance sheet. -
Valeant Pharmaceuticals, the largest obligor across US CLOs, announced a loss for the second quarter on Tuesday, but its CEO reassured investors and lenders that the plan for a turnaround is still on track.
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Crédit Agricole is selling €47.5m of second loss synthetic ABS notes, to achieve balance sheet relief on a €1bn portfolio of European corporate loans.
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The US CLO market is reaping the benefits of newly enriched investors hunting yield following the $8.5bn Countrywide RMBS settlement, sources told GlobalCapital.
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Corporate indebtedness in the US continues to be a focus for regulators, financiers and CLO investors, following the release of the 2016 Shared National Credit (SNC) review earlier this month.
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Top tier US CLO managers maintained their hold on the market in the first six months of 2016, with the list of top managers holding steady year over year.
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US CLO triple-A spreads are on a tear, with the latest offering tightening below the 150bp mark for the first time in 2016, buoyed by a broadening investor base and improved market sentiment.
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Société Générale this week appointed a new European head of leveraged loan syndicate, after the former levloan boss left the bank.
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The relatively low price of mezzanine CLO paper compared with other assets is driving a wave of interest from high yield corporate investors, market participants said this week.
