Latest news
Latest news
Resets for 2021 and 2024 deals are less attractive to managers due to wider liability pricing
Spreads for the triple-A rated notes were similar to the manager's previous deal
State of New Hampshire's innovative bond gets Ba2 rating
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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. -
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.
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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.
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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.
