Latest news
Latest news
Pricing on junior mezzanine notes is diverging as managers have to cope with difficult conditions
Manager extends non-call by a year, tapping into market for shorter-dated deals
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European bank supervisors have switched their approach to excess spread in risk transfer securitizations, paving the way for the stream of full stack capital relief deals issued this year by banks including BNP Paribas and Santander. But questions remain about how the deals handle IFRS 9 accounting, with Santander’s approach potentially boosting principal losses for investors. Owen Sanderson reports. -
The European CLO market has widened from the long standing 90bp level for triple-A bonds seen for much of 2019, as the pricing difference between new and more established managers begins to blur.
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GlobalCapital’s poll to determine our Syndicated Loan and Leveraged Finance Awards 2019 will close on Friday. We would be delighted if you would take this opportunity to pick the deals and firms that have made the most difference to loan markets in 2019. We remind you that an institution cannot win a category it hasn't voted on.
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Alternative asset manager Tikehau Capital has appointed Olga Kosters to run the firm’s newly launched private debt secondary markets business.
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CVC Credit Partners has tapped Deutsche Bank to arrange its latest CLO, as new issuance takes center stage again amid the drop in European CLO refinancings.
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Be-Spoke Capital has mandated NatWest Markets and JP Morgan for Alhambra SME Funding 2019-1, a year after market volatility in the fourth quarter of 2018 led the issuer to shelve its first attempt at the securitization.
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Lloyds Bank has sold the first loss piece of a £3.2bn housing association loan portfolio to four specialist investors, in one of the longest maturity risk transfer deals of recent years.
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AllianceBernstein announced on Tuesday the launch of a broadly syndicated loan CLO management unit.
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Rates trading desks are seeking owners of triple-A European CLO tranches, because of the value of the embedded Euribor floors, which convert negative Euribor prints to 0%. These can be stripped out and sold to the market, monetising a feature of the bonds that has become sharply more valuable as euro interest rates have plunged this summer.
