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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CELF Advisors and Credit Suisse priced Carlyle Global Euro CLO 2014-1 on Monday, with another CLO set to follow quickly, as 3i Debt Managment is due to price its Harvest VIII CLO this week. Pricing of the Carlyle deal was considered tighter than the US as it complies with risk retention regulations and can therefore attract a wider audience.
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RBS has priced 3i Debt Management’s Harvest CLO VIII, taking this week’s European CLO supply to close to €800m. Intermediate Capital Group’s St Paul’s CLO IV is also expected to price by the end of the week as momentum builds despite lingering regulatory concerns.
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The European market for collateralised loan obligations could see €8bn-€12bn of new supply in 2014, according to experts at an industry conference in London on Tuesday. But while the buyer base is broadening and demand is increasing, regulation – in particular the Volcker Rule in the US – is continuing to put a dampener on market sentiment.
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CELF Advisors and Credit Suisse priced Carlyle Global Euro CLO 2014-1 on Monday, with another CLO set to follow quickly, as 3i is due to price its Harvest VIII CLO this week. Pricing of the Carlyle deal was considered tighter than the US as it complies with risk retention regulations and can therefore attract a wider audience.
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European CLO managers that brought new deals in 2013 shrugged off concerns about sourcing collateral and were in many cases able to ramp up CLO portfolios ahead of schedule, according to Standard & Poor’s.
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European CLO managers that brought new deals in 2013 shrugged off concerns about sourcing collateral and were in many cases able to ramp up CLO portfolios ahead of schedule, according to Standard & Poor’s.
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Joint arrangers on 3i Debt Management’s Harvest CLO VIII have put out price guidance for the deal, with CLO specialists confident that European demand will compensate for any drop-off in interest from US banks still hindered by the Volcker Rule.
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Joint arrangers on 3i Debt Management’s Harvest CLO VIII have put out price guidance for the deal, with collateralized loan obligation specialists confident that European demand will compensate for any drop-off in U.S. interest as investors contemplate the implications of the Volcker Rule for CLOs.
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Joint arrangers on 3i Debt Management’s Harvest CLO VIII have put out price guidance for the deal, with CLO specialists confident that European demand will compensate for any drop-off in US interest as investors contemplate the implications of the Volcker Rule for CLOs.