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
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Standard & Poor’s may have handed bank investors — at loggerheads with CLO equity holders over implementation of the Volcker rule — a powerful advantage after the rating agency tweaked its corporate recovery rating process. But some see it as a thinly veiled attempt to regain market share from Moody’s, writes Will Caiger-Smith.
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Standard & Poor’s has tweaked its corporate loan recovery ratings, indirectly affecting CLO recovery value tests and prompting managers to consider returning to the agency after preferring Moody’s. What a coincidence.
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CIFC Asset Management has picked up two CLO bankers from Royal Bank of Scotland's US headquarters in Stamford, Connecticut, as the UK government-owned bank retrenches from the market.
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Alcentra may be next to tackle the primary European CLO market after releasing the structure of its third euro denominated deal of the year, but the manager will be facing tougher conditions than it did for its two previous efforts following a material and sustained widening in issuance spreads on junior tranches. -
Standard & Poor’s has tweaked its corporate loan recovery ratings, indirectly affecting CLO recovery value tests and prompting managers to consider returning to the agency after moving to Moody’s. What a coincidence…
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Chenavari Investment Managers’ downsized European CLO 2.0 debut was the latest in a clutch of ABS transactions that have had a hard time placing riskier paper in recent weeks, as a broad sell-off across markets has hit the primary market for securitizations in Europe.
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Fair Oaks Income Fund, the first CLO fund to float on the London Stock Exchange since the financial crisis, has said developments in the European market have opened the door to it becoming an originator.
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Hedge fund giant Och-Ziff Capital Management Group priced the eighth CLO off its Och-Ziff Loan Management platform on Thursday, helping push new US CLO issuance this year to date to around $67.5bn, according to GlobalCapital data.
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Chenavari Investment Managers will look to price its debut European CLO 2.0 on Friday, defying weaker trading in a more illiquid summer market that has sent junior euro CLO tranches materially wider.
