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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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. -
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.
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As Deutsche Bank continues preparing new CLOs for Par-Four Investment Management and Crescent Capital, the US CLO market seems impervious to the summer slowdown that is taking hold in other securitized products. But increased issuance this year could come at the cost of softer spreads in the higher reaches of the capital stack unless the investor base deepens, said analysts.
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Spurred on by investors’ hunger for higher-yielding securities, Wall Street’s largest banks are taking advantage of a boom in energy and infrastructure financing to come up with rare hybrid securities based on collateralised loan obligations.
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Spurred on by investors’ hunger for higher-yielding securities, Wall Street’s largest banks are taking advantage of a boom in energy and infrastructure financing to come up with rare hybrid securities based on collateralised loan obligations.
