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
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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. -
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.
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Market players speaking on a panel on day two of ABS East were sounding the alarm on the possibility that a wave of downgrades could hit CLO collateral over the next three years, testing the market’s ability to withstand an influx of triple-C loans.
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CLO managers are rushing to reset their deals because they can no longer find enough loans with covenants to buy. European CLOs issued as recently as 2017 require up to 20% of loans to feature maintenance covenants, which are almost never seen in the European market now.
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Adani Transmission, the Indian power transmission firm, has launched US private placements, according to several market participants, in a debut set to test institutional investors’ appetite for Indian risk.
