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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Cuts to Royal Bank of Scotland’s US non-agency mortgage business may extend to its collateralised loan obligation syndicate and distressed debt businesses, and may also lead to a “rationalisation” of its agency RMBS trading desks, GlobalCapital understands. -
Onex Capital Partners priced its largest ever CLO last Friday, a $1bn deal which was structured to comply with European risk retention rules. The deal is only the third post-crisis US CLO to breach the $1bn mark, and comes as many managers are finding enough demand to upsize their deal, with all but the largest players offering discounts.
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Fair Oaks Income Fund has acquired GLI Finance’s last two CLO investments, as it builds an initial portfolio ahead of the first CLO fund flotation in London since the financial crisis.
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New challengers are entering the CLO arranging market, as deal sizes swell and analysts rewrite their issuance forecasts. Lesser known arrangers like Mitsubishi UFJ are looking to expand their presence, and US managers are broadening their appeal by structuring deals to comply with European regulations. But some market participants are calling for caution as pre-crisis trends re-emerge.
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New challengers are entering the CLO arranging market, as deal sizes swell and analysts rewrite their issuance forecasts. Lesser known arrangers like Mitsubishi UFJ are looking to expand their presence, and US managers are broadening their appeal by structuring deals to comply with European regulations. But some market participants are calling for caution as pre-crisis trends re-emerge.
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US CLO managers are starting to structure their deals to comply with European risk retention rules, as European CLO investors turn away from their own backyard to focus on the booming US market, which they see as offering better value.
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Asset management giant Carlyle Group has handed sole reins on a new Volcker-compliant collateralised loan obligation to one of Wall Street’s youngest structured products firms, Mitsubishi UFJ Securities.
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Two new US CLOs are being structured to comply with European risk retention rules. The deals come as European CLO investors turn away from their own backyard to focus on the booming US market, which they see as offering better value.
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Oaktree Capital Management priced its euro-denominated Arbour CLO late on Friday, at the end of a week that saw investors selling bonds further down the capital structure on the secondary market.
