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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Peter Gleysteen is a 40-year veteran of the leveraged lending market and the CEO and founder of AGL Credit Management, which recently priced the largest CLO since the coronavirus pandemic began. He spoke with GlobalCapital about the future of the CLO market and how it is facing up to the challenges of the Covid-19 crisis. -
Kayne Anderson Capital Advisors has priced a $293m CLO via JP Morgan, its first since the outbreak of the pandemic.
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Oliver Wriedt has stepped down from his role as CEO of DFG Investment Advisers to start his own investment firm, according to CLO market sources.
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Angelo Gordon has broken the record recently set by Albacore to print new post-coronavirus tights, with Bank of America leading the senior notes to land at a discount margin (DM) of 150bp.
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Triple-A spreads on new issue CLOs hit 160bp this week, the tightest since the start of the pandemic, as GSO priced a $361m transaction arranged by BNP Paribas.
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Investcorp Credit Management announced on Tuesday that it has hired Brian Marshall to its US credit business.
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Morgan Stanley Investment Management has finalized its acquisition of the CLO assets of Assurant, according to CLO market sources.
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CLO managers are in talks with banks in hopes of opening new warehouses in coming weeks, paving the way for a new wave of post-Covid CLO issuance — though firms will be emerging into a markedly more difficult environment, sources say.
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First time CLO issuers in Europe are seeing little to no premium on their market debuts, with AlbaCore’s market debut pricing its senior notes inside Investcorp’s 24th deal and the second issue from MacKay Shields. This follows strong debuts from CBAM Europe and BlueBay, which also printed inside or in line with more established issuers — though lower leverage may have helped.
