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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Nordic broker Pareto Securities is looking to capitalise on the growth of the Schuldschein market and the instrument’s increasing popularity in its native region by advising and arranging transactions itself. But some traditional market players fear the Oslo-based firm’s association with high yield borrowers is a cause for concern. Silas Brown investigates. -
KKR Credit Advisors is resetting its Avoca CLO XVIII, a €570.73m euro CLO, with the senior notes guided at 99bp-102bp.
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Shareholders of the Budapest Stock Exchange (BÉT) decided to establish a securitization advisory subsidiary at a meeting held on August 14 to “facilitate the development of the domestic securitization market.”
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BNP Paribas is pitching a reset of Dryden 48 Euro CLO 2016 on behalf of PGIM Fixed Income, keeping the late summer CLO reset and refinance wave rolling.
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A pair of CLO transactions were priced on Thursday, with Neuberger Berman bringing a deal via arranger Credit Suisse, and Citi pricing a transaction on behalf of Aegon Investment Management.
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CLO managers are still able to refinance deals in the European market, but analysts said such deals will soon be replaced by a raft of new issuance. The buy-side is also diversifying as investors flee negative yield rates in other market sectors.
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Apollo subsidiary Redding Ridge has hired Pretium Partners executive John D’Angelo as CLO portfolio manager in New York.
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A New York-based alternative credit specialist has appointed a new partner and hired a managing director to its credit research team.
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After a month of record issuance in July, CLO spread levels have tightened into a range to create a window for managers to reset older transactions in August.
