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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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Danish sub-investment grade boutique Capital Four has unveiled its long-rumoured CLO debut, a €359m deal with ESG investment criteria, an increasingly popular approach in European CLO structures. -
MUFG hires derivs head from HSBC — ex-Stan Chart chief to chair ICG — DCM banker goes to sustainable finance centre
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The largest listed funds buying CLO exposures are trading well below net asset value, suggesting some end investors see the asset class having worse prospects than the managers active in the sector. But part of the problem comes from managers’ marking of their investments, which has kept the NAV high for one of the sector’s largest players, GSO’s risk retention fund.
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Suez issues rare 40-year US PP — Sopra Steria places Euro PP notes of rare size — Hafnia sails loan refi into port— Acquisitive Sonnedix returns to loans — Mesto builds demerger cash pile
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Private equity and debt investment group Intermediate Capital (ICG) has named former Standard Chartered chief executive Mervyn Davies its new chairman, replacing Kevin Parry.
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Mark Okada, the co-founder of alternative credit investment and CLO management firm Highland Capital Management, is set to retire at the end of the year.
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Angelo Gordon sold its first ever European CLO at the end of last week, pricing the triple-A notes at the tightest levels of 2019.
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The European Banking Authority has published its long-awaited discussion paper on the possibility of ‘Simple, Transparent and Standardised’ synthetic securitizations — opening the way to better regulatory treatment for risk transfer deals. That would endorse a market that frequently faces public criticism.
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The Federal Reserve is unlikely to take US interest rates into negative territory, preferring to embark on another round of quantitative easing to stave off a recession, speakers said at ABS East on Tuesday.
