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
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Most assets underpinning European securitizations are set to continue to perform well this year, though the region’s commercial mortgage-backed market continues to feel the squeeze, analysts at the Royal Bank of Scotland said Monday.
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By Shanker Merchant, managing director in investment banking at CastleOak Securities, a New York-based boutique investment bank. -
Peter Gleysteen, ceo of CIFC, whose unit CIFC Asset Management has been one of the most active issuers this year, talks with SI about what the market can expect down the road, including improved bank warehouse lending and a potentially wider array of assets and structures in new CLOs.
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Collateralized loan obligation specialists in Europe say more institutional money needs to come onboard if the region’s stalled CLO market is to restart in 2013.
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Issuance of European securitizations in 2013 will likely be flat to 2012, at about EUR61.5 billion ($81.43 billion), but the mix will change, according to Citigroup researchers.
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Next year is likely to be harsh on structured finance deals from Europe, the Middle East and Asia, according to Fitch Ratings.
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The second half of 2012 saw the new-issue collateralized loan obligation market soar.
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Guggenheim Partners Investment Management broke the 2012 record for biggest collateralized loan obligation on Friday, with the pricing of its $1.05 billion Mercer Field CLO.
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Your weekly roundup of securitization sectors with year-to-date totals in ABS, CMBS, RMBS and CLOs in the U.S. and Europe.
