Latest news
Latest news
An interview with Propel and the BBB, a busy Q1 for ABS, more arb headaches for CLO managers
Resets for 2021 and 2024 deals are less attractive to managers due to wider liability pricing
Spreads for the triple-A rated notes were similar to the manager's previous deal
More articles
More articles
-
As one of the larger CLO managers in the US market, Prudential is less exposed to from risk retention rules than smaller names. But that doesn’t mean they’re happy about the new regulations. GlobalCapital caught up with Brian Juliano, vice president and portfolio manager for Prudential Fixed Income's US bank loan sector team, to find out why risk retention could shift risk to the high yield market, how managers may work around the rules, and why smaller shops might lose analysts. -
West Gate Horizons is close to Volckerising one of its 2013 collateralised loan obligations, as well as modifying the documentation to reflect changes in Standard & Poor’s recovery ratings. The move comes as Volckerisation efforts are slowing because of a less refi-friendly environment — although some sources say equity investors are more receptive to such changes as they may enhance liquidity.
-
CVC Credit Partners priced its latest European CLO this week, with its senior notes printed at the sort of spread levels that bankers say are playing a part in attracting a fresh batch of US managers to the euro denominated market.
-
CVC Credit Partners has issued guidance on its latest European CLO, at the sort of spread levels that bankers say are playing a part in attracting a fresh batch of US managers to the euro denominated market.
-
Pricing of mezzanine tranches in new CLOs has tightened in recent weeks as the asset class’s relative value has increased, and the pipeline of deals looking to get done before the Thanksgiving holiday is bulging. But as lawyers wrangle with the details of risk retention rules, investors say they are already discriminating between managers based on how they plan to deal with the rules.
-
Credit Suisse Asset Management is looking for a new credit analyst to join its credit investments group in London, as it gears up to issue its first euro CLO of the year.
-
CLO market participants could not agree on the potential impact of a Republican majority in the Senate on risk retention and the Volcker rule — two of the regulatory developments that have weighed on the market this year.
-
Moody’s Analytics is looking for two full time researchers to create research papers and webinars showcasing data from its Structured Finance Portal, which was initially focused just on CLOs but is growing into ABS and RMBS — a process which will be sped up by Moody’s Corporation’s acquisition of data provider Lewtan.
-
Telos Asset Management has priced its sixth CLO of the year, and has around $225m in a warehouse for its next, according to pricing sheets. Meanwhile, Covenant Credit Partners is busy ramping its second CLO, having priced on Wednesday.
