Latest news
Latest news
Response on EBA website to a 2021 question blocks conditional sale agreements
'Europe’s first passive CLO ETF,' says manager
Tight loan market makes it tricky to ramp CLO portfolios
More articles
More articles
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The Fire and Police Pension Association of Colorado (FPPA) had never made a proper allocation to the CLO market before this year. In November, the board of directors of the pension fund approved a $70m commitment to a CLO debt strategy, despite the turmoil which had engulfed the asset class through the Covid-19 crisis earlier this year. Ben Bronson, director of liquid strategies at the fund, talked to GlobalCapital, about the new allocation.
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BlackRock priced the tightest three year reinvestment period CLO since the pandemic hit, selling senior notes at 120bp over three month Libor and tightening the double-B spread from recent prints.
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Euro securitization secondary markets leapt into action as traders see a window of spread tightening in December, crossing their fingers and hoping macro worries have abated for the remainder of the year. -
Changes to the Volcker rule allowing US CLOs to hold bonds as well as loans ought to survive the shift to a new administration, but market participants will be counting the days and hoping the changes, enacted at the beginning of October, aren’t caught up in a Congressional review.
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If 2020 was a year when sectors and broad virus news drove the market, 2021 will be the year of the credit picker, according to panellists at IMN's ABS East Virtual 2020 event, with individual loan selection more crucial than ever.
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Institutional investors are on the verge of a huge opportunity in private debt, as assets migrate out of the banking system, according to Thierry Adant, who joined Newmarket Capital this week as its chief investment officer.
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The Term Asset Backed Securities Loan Facility (TALF) program will expire at the end of the year, but, despite claiming to target the CLO market, it has proved disappointing, with only Golub Capital issuing a deal which could be bought by the program.
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There will be winners and losers among CLO managers as a result of the Covid crisis, leading to consolidation in the sector, IMN's ABS East Virtual 2020 heard this week. Panellists tried to rethink the post-pandemic CLO landscape.
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Law firm Alston & Bird has hired a three person CLO team from Cadwalader, Wickersham & Taft.
