Latest news
Latest news
Borrowers take advantage of robust CLO demand to tighten leveraged loan pricing
New realm for ex-Natixis banker, as HSBC Innovation Bank hires
Manager reset the deal for the second time as the end of its reinvestment period approached
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Pizza Express’s plans to restructure its debt, shut restaurants and sell its UK business have hammered home the latest nail in the coffin of the UK casual dining sector. As appetite for eating out dwindles following lockdown, coupled with a heavy oversupply of mid-market restaurant chains, the coronavirus pandemic has hastened the decline of a sector which has dominated UK dining over the past few decades. -
Rating agency reviews of CLOs are not resulting in mass downgrades in Europe. That has caused some to question what is going on given the damage the coronavirus pandemic and lockdowns must surely have had on certain sectors of the economy that some CLOs are exposed to. Some transparency around ratings metrics would help soothe the angst.
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Janus Henderson is planning an exchange traded fund (ETF) that will invest in the safest tranches of CLOs, according to a filing with the Securities and Exchange Commission.
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Rating agency reviews of CLO tranches which began in April are coming to an end, with the majority keeping their scores in early signals that the sector may avoid a mass of downgrades.
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Ducenta Squared Asset Management recently obtained the management contract for a CLO managed by Tortoise Credit Strategies, a firm that Ducenta acquired in April, according to a source familiar with the purchase.
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Citi has hired Florent Chagnard from Credit Suisse to head European CLO syndication in the firm’s London office, according to sources familiar with the situation.
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Palmer gets interim ECM head gig at BofA — Clarke to join JP Morgan for FIG — Paz-Galindo promoted at UBS
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The number of new managers entering the CLO market has dwindled in 2020 as a result of the pandemic crisis, interrupting years of growth that peaked with an average of 10 new managers a year since 2017.
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Spreads on new issue CLOs moved tighter as BlackRock and GoldenTree Asset Management priced senior bonds at 155bp over three month Libor, scoring the tightest triple-A pricing since March.
