Latest news
Latest news
Deal’s triple-A notes are fully syndicated to investors, despite volatility from Iran war
Wells Fargo, JP Morgan and Citi are among the top US bank buyers of CLOs
Far fewer leveraged loans are trading above par, but market bifurcation endures
More articles
More articles
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Jefferies appointed Crescent Capital's former CLO head Melissa Weiler and Ellis Kirk Group's CEO Matrice Ellis Kirk to its board of directors, starting from July 1. -
Palmer Square Capital Management priced a $1bn CLO on Friday, the largest deal of the year arranged by Citi and with no reinvestment period.
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ABS lawyers are asking issuers to resist taking advantage of a legal loophole left via a regulatory quirk, where a number of CLO and CMBS deals are technically exempt from switching data over to the securitization repositories approved by the European Securities and Markets Authority (ESMA) on Friday.
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Trimaran Advisors has refinanced a CLO originally issued in 2014 via an applicable margin reset (AMR) auction, joining a handful of managers to the innovative way of refinancing. More online repricings are expected to follow, as the issuers scramble to lower their funding costs.
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The spreads on triple-A rated CLO tranches in euros are levelling off once more, after a spell of widening. The senior parts of the capital stack have become more accessible to investors, leading to a stabilisation of spreads which syndicates warn may be temporary.
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Too much supply in the US CLO market has caused the spreads on triple-A tranches to widen to 110bp-120bp, according to market sources. Issuance is expected to reach record levels this year.
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Deutsche Bank has hired Alex Danehy as head of US CLO syndication, according to a person with knowledge of the matter. Danehy joins from JP Morgan, where he was an executive director responsible for CLO origination.
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TCW Asset Management has issued its second CLO via Jefferies, since forming a partnership with Kennedy Lewis Investment Management and Jefferies to boost the firm's CLO issuance program.
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Rhode Island Employees' Retirement System has allocated $250m to Sycamore Tree and Neuberger Berman to invest in CLO equity and mezzanine tranches, following a new strategy that targets CLOs rather than real estate investment trusts (Reits) and master limited partnership (MLPs).
