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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CLO manager tiering has hit an inflection point in 2016, with spreads between managers varying as much as 30bp at the top of the stack.
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The CLO investor base is changing at both the bottom and top of the capital stack, with shifts in the kinds of buyers willing to participate being more of a make-or-break factor for deals than ever before, according to panellists at Information Management Network’s Investors Conference on CLOs and Leveraged Loans held this week in New York.
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The US House of Representatives is set to decide this summer the fate of HR.4166, a bill to ease risk retention requirements for CLOs.
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The retail sector is becoming a headache for leveraged loan and CLO managers according to speakers at IMN’s Investors’ Conference on CLOs and Leveraged Loans, held in New York on May 16-17. -
Apollo Management International priced a €357m European CLO last Friday, after reducing the size of the deal, as expensive collateral weighs on equity returns in CLO structures.
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Octagon Credit Investors is marketing its second CLO transaction of 2016, continuing the sector's new issue revival.
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Spire Partners, which issued its debut CLO last year, announced a €360m deal on Thursday morning, amid a battle for managers against changing dynamics in the European CLO market.
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New details in the saga of Canadian healthcare giant Valeant Pharmeuticals have once again plunged the CLO market into a debate over credit quality.
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Historically wide CLO spreads, particularly in the triple-A tranches, are making managers reluctant to price new deals, depressing total issuance in 2016, according to sources speaking to GlobalCapital.
