Latest news
Latest news
◆ Fast money reverses out of SSA bond market ◆ CLO managers face risky ramp startegy ◆ Corporate hybrid bond market runs hot despite volatility
Manager tightens spread on triple-A rated notes by 23.5bp compared with the original deal
Lower loan prices offer higher equity returns but managers face rally risk once deals are priced
More articles
More articles
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Some European collateralized loan obligations in the market are having a tough time selling their triple A senior piece.
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Alternative investment manager Angelo, Gordon & Co. is tapping Morgan Stanley again to arrange its upcoming collateralized loan obligation.
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A lack of eligible CLO collateral in Europe will force managers to consider multi-currency buckets, but CLO lawyers are less certain whether managers will want to use currency swaps to make multi-currency asset purchases possible.
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New collateralised loan obligations (CLOs) in the European market will need underlying portfolios that are well ramped up in order to have a smooth ride through the market, according to CLO specialists in London.
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Cantor Fitzgerald extended its recent push into collateralized loan obligation trading and arranging in Europe with two hires to newly created positions in collateralized debt obligation origination and structuring.
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New collateralized loan obligation in the European market will need underlying portfolios that are well ramped up in order to have a smooth ride through the market, officials in London said.
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Pre-trade transparency rules set out under the European Commission’s Markets in Financial Instruments Directive will be virtually impossible to apply to many unlisted asset classes, including certain collateralized loan obligations and OTC derivatives, according to Rob Ford, partner and portfolio manager at TwentyFour Asset Management in London.
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Cantor Fitzgerald has added three new hires to its CLO, CDO and structured credit desks in London as the firm focuses on expanding its CLO arranging business.
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The issue of how new collateralized loan obligations in Europe comply with the Capital Requirements Directive’s Article 122a rule on risk retention—the so-called ‘skin-in-the-game’ clause—is weighing heavily on industry minds in light of this year’s market revival.