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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December got off to a rousing start in the primary market for collateralized loan obligations, as managers rush to price deals before year-end. Nearly $3.21 billion in CLOs hit the market and priced last week.
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Credit Suisse recently added a new head of collateralized loan obligation pricing, a spokesperson confirmed.
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Ares Management priced its $567.5 million collateralized loan obligation ARES CLO XXV; the third time the firm has come to market this year with such deals.
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Brigade Capital Management raised a $411.5 million collateralized loan obligation via JPMorgan; the firm’s first non-static deal since 2007, according to sources.
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A weekly roundup of securitization sectors with year-to-date totals in ABS, CMBS, RMBS and CLOs in the U.S. and Europe. -
Ares Management is among a group of repeat collateralized loan obligation issuers to come to market more than twice this year, as it prepares its $567.25 million ARES XXV CLO, this time hiring Bank of America-Merrill Lynch to arrange the deal.
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The collateralized loan obligation market is set to exceed the high end of new-issuance projections for the year, as four deals priced last week and at least three more are near closing.
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NewStar Financial raised its second collateralized loan obligation since the first quarter 2012, choosing Wells Fargo to orchestrate the $325.88 million middle-market loan deal.
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Executives of KCAP Financial, a publicly traded business development company formerly known as Kohlberg Capital, have settled with the Securities and Exchange Commission over charges including overvaluing two collateralized loan obligation investments originated by wholly owned affiliate Katonah Debt Advisors, according to an SEC release.
