Latest news
Latest news
Market anticipates another record year for new issuance, even as equity returns remain weak
Rating upgrades to CLO tranches by Moody's and Fitch could let managers increase leverage in deals
Manager takes advantage of tight spreads available for refinancings to cut triple-A pricing by 14bp
More articles
More articles
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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.
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Royal Bank of Scotland strategist Richard Hill will be joining Morgan Stanley’s research team after a garden leave, according to sources.
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Alcentra is aiming to price its Jubilee 2013 X European collateralized loan obligation by the end of May, with price talk on the senior tranche understood to be in the area of 125 basis points over six-month EURIBOR.
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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.
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Neuberger Berman became the fourth recent issuer of a collateralized loan obligation to include a class of bonds that allows the manager to call investor commitments after the deal’s close.
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New issuance of collateralized loan obligations picked up after a two-week drought, easing fears that a key regulatory change that went into effect in April would stifle the market.