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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Extra-large deals are flooding the CLO market with MidCap Financial Services, a subsidiary of Apollo, resetting its $1.206bn mid-market CLO named Woodmont 2017-2, and sources expecting new issues in large size ahead. -
Debra Anderson, head of Tikehau Capital’s CLO business, is finishing her notice period before retirement. She joined the company in 2014, and will be concluding her financial career after 34 years in the sector.
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CLO reset and refinancing activity has rocketed over the last month, and it is here to stay, given the amount of deals callable and the incentive for managers to cut liability costs. But despite the tighter spreads which can be locked in, the costs of executing a refi can hurt equity distributions in the short term.
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HSBC's Henry to retire — European Commission borrows IR and funding officials from EIB — Paterson joins CQS
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Kuvare Holdings, a Chicago-based insurance and reinsurance company, hired former Penn Mutual CLO specialist Jason Merrill as vice president in its structured securities unit.
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Bardin Hill Investment Partners has returned to US CLO issuance after more than two years of absence.
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Marble Point has hired former Seix Advisors chief executive Bob Sherman in a newly created position of global director of strategic development.
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Cairn Capital, the alternative credit asset management firm in which Mediobanca has a majority stake, has agreed a deal to buy and merge with Bybrook Capital.
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TCW Asset Management refinanced a CLO issued in 2019 via an applicable margin reset (AMR) auction, becoming the first manager to use the innovative way of refinancing twice.
