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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RBS has increased its projection for collateralized loan obligation issuance in 2012, from $12-14 billion to around $25 billion.
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Three collateralized loan obligations totaling more than $1.88 billion priced this week, including one comprising loans to companies in emerging markets—a type of deal that hasn’t been seen since the market came to a halt in 2008.
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ICE Canyon LLC, an investment management firm that specializes in emerging markets, sold a $600 million emerging markets collateralized loan obligation via Jefferies & Co., in the first CLO of its kind since 2007.
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WCAS Fraser Sullivan Investment sold a $450 million collateralized loan obligation via Citigroup, with the top-rated $273.5 million A-1 class pricing at a coupon of LIBOR plus 130 basis points.
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Sankaty Advisors is prepping another collateralized loan obligation from its Race Point shelf via Bank of America, as the pipeline for CLOs continues to grow after a strong first quarter.
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Silvermine Capital Management’s $462.4 million collateralized loan obligation brings issuance in the first week of April to $1.4 billion; a week that also saw some of the tightest levels seen in the primary market since markets fell off amid last summer’s macroeconomic turbulence.
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GoldenTree Asset Management priced its $526.8 million collateralized loan obligation—upsized from its original $419.1 million—with the $313 million in top-rated notes beating recent tights by 10 basis points at 130 bps over LIBOR
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Doral Leveraged Asset Management has issued a $416.15 million CLO marketed by Citigroup Global Markets, bringing year-to-date issuance to just over $6 billion.
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Crédit Agricole is planning to launch a five-year covered bond denominated in euros. Lead managers on the deal in addition to the French bank are Deutsche Bank, ING, Natixis and Royal Bank of Scotland.