Latest news
Latest news
Triple-A pricing widens by 49bp relative to the original deal
Refis, resets and new issues all on offer as Five Arrows, Apollo, Neuberger Berman, Ares and Oaktree price deals
European CLO ETFs' total holdings near €2bn
More articles
More articles
-
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. -
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.
-
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.
-
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.
-
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.
-
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.
-
Bank of America has promoted CLO traders Ricardo Arguello and Tim Murtha to managing director in New York.
-
Managers priced two CLOs on Thursday, selling the senior bonds at the tightest spread seen since November as 2020 kicks off with a rally in triple-A paper.
-
High yield bonds are back on top as the capital markets funding tool of choice for leveraged companies. This week, Techem tweaked its loan repricing to add a heavy bond slug and take advantage of near-record low coupons on offer. That sets 2020 up with a very different tone from the past two years, when an ever-growing CLO market meant bonds struggled to compete with loans, writes Owen Sanderson.
