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
More articles
More articles
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Francis McCullough, former managing director and global head of new issue CLOs at Deutsche Bank, has joined Sound Point Capital Management as the firm's global head of CLO capital markets and structuring. -
The first ever refinancing of a CLO via an applicable margin reset (AMR) auction was a success this week, with BNP Paribas among the winning bidders, trading 73% of the total CLO, according to sources familiar with the matter.
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Dutch release liner manufacturer Loparex is launching a €186m term loan B to refinance the equity bridge, put in place by sponsor Pamplona when the company acquired its competitor Infiana last autumn. While the borrowing conditions are exceptionally benign for many, Loparex has struggled to make a good first impression.
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RBS has sold a risk transfer securitization referencing a book of UK green project finance loans to the BAE Systems pension fund, which was advised by a unit of Macquarie. The deal is the first ESG-rated risk transfer deal in the UK, and also potentially the longest-dated risk transfer deal ever done in the UK, with an average life of eight to nine years.
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On Thursday morning, bids for the first repricing of a CLO via an applicable margin reset (AMR) auction will roll in, bringing to life a concept that has the potential to disrupt traditional practices in the sector.
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Gulf Stream Asset Management has returned to the CLO market with its first deal since the financial crisis, selling senior bonds at 137bp over three month Libor on Tuesday.
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Alternative asset management firm CIFC has hired a team from Millennium Management to build out its high yield business, as the firm continues to expand the products on offer from its starting point of leveraged loan investments.
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CLOs failing a crucial quality test as the market faces a potential wave of leveraged loan refinancings, said analysts at JP Morgan in a report published this week.
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Bank of America has promoted CLO traders Ricardo Arguello and Tim Murtha to managing director in New York.
