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
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Oliver Wriedt, former co-CEO of CIFC Asset Management, is joining DFG Investment Advisers as CEO while the firm rebrands with the intent of growing its existing CLO and structured product businesses. -
The acquisition debt for Ifco, the spinout plastic boxing business of Australian logistics firm Brambles, will come inside the 400bp barrier some market participants see as crucial to bringing in CLO demand.
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Sound Point, Bardin Hill and PGIM are working on European CLOs, despite consistent complaints around the available arbitrage for CLO equity. The deals are from warehouses still being cleared from 2018, according to an investor.
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There is comparatively less systemic risk in leveraged loan CLOs than in the subprime crisis-era sector, representatives from both the Loan Market Association (LMA) and the Loan Syndications and Trading Association (LSTA) agreed while speaking at an IMN conference panel on Tuesday. Credit risks for the sector remain, however.
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Nearly $4.5bn of new CLO debt was issued last week, making it the busiest week of the year for the primary market, and several billions more is already in the pipeline. But investors report that the market is still finding its footing on pricing, and they continue to look for more bells and whistles before buying into a given deal.
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Clinton Ray and Guy Morgan are joining Perella Weinberg Partners from Goldman Sachs to advise on restructurings.
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Alternative investment manager Investcorp announced on Wednesday that it was welcoming a new chief executive to it US credit management operations.
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Investors from Japan’s Norinchukin Bank were in London earlier this month meeting with CLO players to reassure them that the Japanese fiscal year end on March 31 will have no effect on the bank's demand for European CLO paper, according to sources.
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A capitalised manager vehicle (CMV) controlled by Georgia-based Angel Oak Capital Advisors has sold a rare CDO backed by senior and subordinate debt issued by US community banks and insurance companies.
