Latest news
Latest news
Lower pricing across CLO capital structure does little to improve equity arbitrage
Manager tightens triple-A pricing by 27bp and avoids refinancing some junior mezzanine notes
Spread on triple-A rated notes 4bp wide of recent tights
More articles
More articles
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Eagle Point Credit Management, a specialist asset manager focused on investing in CLO securities and portfolio debt securities, has hired Seth Weinstein as director of business development, a newly created position. -
Neuberger Berman has re-entered the European CLO market for the first time since the financial crisis, with a deal including a new feature which measures how well its portfolio matches UN sustainable development goals.
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CLO managers bringing new deals need lower rated, higher yielding loans to come to the primary market, after the European market saw a surfeit of better quality supply in the first months of the year.
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Tough market conditions last year meant many CLO managers in the US issued fewer deals than usual, and some didn’t print at all. But a strong opening to this year has encouraged some, if not all, to return. Meanwhile, a new type of structure may give others the incentive to make a comeback, writes Paola Aurisicchio.
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Chuka Umunna joins JP Morgan — Deloitte hires another FIG banker — JP Morgan AM appoints transition bond expert
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Refi and reset in the CLO space continue to fly, with another extra-large reset priced by Clearlake Capital Group, the investment firm that last year bought the Dallas-based credit-focused firm WhiteStar Asset Management.
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US insurer Kuvare Holdings has hired Jason Powers, former co-head of the US CLO business at Wells Fargo Securities, to run its credit investments team. Powers is the second CLO expert to join Kuvare in as many weeks, following the recent hire of Jason Merrill.
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Barclays CLO and loan strategist Geoffrey Horton will move to the New York office after spent two years at Barclays based in London, according to a CLO source.
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The first month of 2021 recorded the highest pace of euro CLO issuance since the pandemic, at €10bn, in a sign that market sentiment has recovered. Between March and December last year, issuance averaged between €3bn and €4bn per month.
