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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The US CLO market is maintaining momentum, with three deals priced on Friday to round off a positive week for the primary market, though concerns over price discovery and long term conditions are affecting the mood. -
The European and US CLO markets are warming up after a moribund start to the year, with managers bringing a flurry of deals to jumpstart the sector this week, write David Bell and Sam Kerr.
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BNY Mellon has hired a new head of its corporate trust business in Europe, the Middle East and Africa (EMEA), as it aims to develop its interests in the loan market.
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Improving macroeconomic sentiment and increasingly positive market fundamentals are jumpstarting the CLO market, with primary issuance picking up and investors loosening some criteria when investing in new deals.
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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.
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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.
