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Latest news
Despite unfavourable equity arbitrage, CLO issuance continues at pace
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
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The declining arbitrage levels in the European broadly syndicated loan CLO market are not leading managers to change their approach to asset selection, Moody’s analysts told GlobalCapital on Tuesday. -
GSO Capital Partners has picked up in 2014 just where it left off in the European CLO market late last year, after increasing the size of its Holland Park CLO by more than €100m this week.
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The return of large bank investors like JP Morgan and Wells Fargo to the market for triple-A CLO paper this week has boosted demand, helping managers increase their deal sizes as optimism about potential grandfathering of existing CLO deals under the Volcker rule took hold. At the same time, strong equity demand is helping supercharge the market.
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The return of large bank investors like JP Morgan and Wells Fargo to the market for triple-A CLO paper this week has boosted demand, helping managers upsize their deals as optimism about potential grandfathering of existing CLO deals under the Volcker rule took hold. At the same time, strong equity demand is helping supercharge the market.
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The trend to covenant-lite loans in Europe is gathering pace, causing some consternation among the continent's conservative lenders, with food maker Diana Ingredients this week lining up to follow French compatriot Ceva Santé Animale which last week closed the first all-euro covenant-lite deal in years.
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Voting has now closed for the GlobalCapital US CLO Deal of the Year Award, which will be presented at IMN's CLO Conference in New York on April 22.
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GSO Capital Partners is set to pick up in 2014 where it left off in the European CLO market late last year after increasing the size of its Holland Park CLO by more than €100m.
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Voting has now closed for the GlobalCapital US CLO Deal of the Year Award, which will be presented at IMN's CLO Conference in New York on April 22.
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New interest from triple-A buyers helped Deutsche Bank upsize THL Credit’s latest CLO on Tuesday, as some bank investors look to move back into CLOs amid increased optimism around a possible solution to the Volcker rule’s treatment of their investments.
