Latest news
Latest news
Triple-A rated CLO spreads tighten at last and a template is established for European data centre ABS
Public versus private distinction scrapped for disclosure plus new, simplified templates for mature asset classes
Pricing on triple-A rated notes tightens by 15bp as manager avoids refinancing some mezzanine tranches
More articles
More articles
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Deutsche Bank on Wednesday priced Par Four Investment Management’s Tralee III CLO, as it was announced that the arranger is also working on a new Volcker-compliant European CLO to be managed by London-based hedge fund Chenavari. The euro deal comes at a time when large US bank investors in CLOs are being increasingly selective about new deals, based on managers’ willingness to 'Volckerise' existing deals. -
Florence based lender Cassa di Risparmio di San Miniato has issued a cash flow securitization of loans to Italian small and medium sized enterprises, but is understood to have retained the transaction as arbitrage levels in the market continue to prohibit public sales.
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Jim Stehli, the veteran of UBS’s CDO losses who joined Mizuho earlier this year to build a CLO origination team, has hired a CLO structurer from Cantor Fitzgerald.
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The Loan Market Association has called on the European Central Bank and Bank of England to consider the regulation of collateralised loan obligations in isolation, saying encouraging more CLO managers into the market is vital for loan market liquidity and European corporate financing.
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CLO managers in the US face a choice between pricing huge deals like Credit Suisse Asset Management’s $1.036bn Madison Park XIV CLO, or keeping their transactions smaller in order to achieve tighter pricing, bankers told GlobalCapital on Monday.
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The European collateralized loan obligation primary market is due to start the second half of the year with a bang as both returning and new issuers line up transactions, with Moody’s reporting that credit quality across the asset class has stabilised.
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As Deutsche Bank continues preparing new CLOs for Par-Four Investment Management and Crescent Capital, and Morgan Stanley readies a jumbo-sized $1bn deal for Credit Suisse Asset Management, the US CLO market seems impervious to the summer slowdown that is taking hold in other securitized products.
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Appleby has promoted one of its expert CLO lawyers in its Cayman Islands office, after three years with the firm.
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Apollo Global Management has made two new hires within its structured credit investment team in the US, bringing on a former sell-side CLO structurer from Bank of America Merrill Lynch and a trader from Citi.
