Latest news
Latest news
Pricing on triple-A rated notes tightens by 15bp as manager avoids refinancing some mezzanine tranches
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
More articles
More articles
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Los Angeles asset management firm TCW Group has hired two new senior vice presidents, with extensive experience in US credit markets and collateralised loan obligations.
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The US CLO market was still yet to see its first deal pricing of 2015 on Thursday, with a confluence of regulatory and market-driven factors putting serious pressure on demand. But that isn’t stopping some banks from taking an aggressive stance on new issuance. -
Of the 68 US loan borrowers that have suffered price drops of more than 5 percentage points in the past 30 days, some 35 are in the oil and gas industry or related sectors, compared to just five two months ago, Morgan Stanley analysts wrote on Wednesday.
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A San Francisco Bay area portfolio manager is readying his firm’s first dedicated securitized asset fund, focusing on esoteric ABS, as well as RMBS and CMBS and some CLOs.
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Spire Partners has hired a European investment bank to arrange its inaugural European collateralised loan obligations (CLO) transaction, as fellow US managers consider their own debuts.
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A portfolio manager mainly focused on CLOs acquired from Gulf Stream in 2011 has left Apollo Global Management, GlobalCapital understands. Separately, Apollo is marketing its first US CLO of 2015, ALM 12, with Morgan Stanley as arranger.
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Prudential Investment Management has begun marketing its first Dryden CLO of 2015 with JP Morgan, as new US issuance struggles out of the starting blocks amid cautious trading sentiment. Elsewhere, Cutwater Investor Services has begun ramping a new CLO, with Royal Bank of Canada as arranger.
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One of Deutsche Bank’s collateralised loan obligation experts has moved back to London after a four and a half year stint in New York, according to a person at the bank.
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UK hedge fund giant Man Group’s decision to buy Silvermine Capital, the US collateralised loan obligation manager, makes Silvermine "immune to risk retention" and could be the first acquisition of many as onerous risk retention rules threaten smaller CLO managers, said market participants.
