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
More articles
-
The leveraged finance market is feasting on the $10.2bn financing for the buyout of Johnson Controls’ batteries business by Caisse de dépôt et placement du Québec. Levfin players believe its success is in part due to a lack of jumbo supply in the US prior to the trade. -
Tetragon Credit Income Partners announced on Wednesday that it had closed its third CLO fund aimed at acquiring majority stakes in CLO equity tranches.
-
Allen & Overy has appointed Nick Robinson, formerly special counsel at Milbank LLP, as partner in the law firm’s securitization and structured finance practice.
-
Hayfin Emerald CLO 2, a €407.5m CLO arranged by Goldman Sachs and managed by Hayfin Capital Management, received initial price thoughts this week, with the deal due to be priced by Friday.
-
News that UK plastic packaging producer RPC’s board had approved the bid of US rival Berry Global Group has been met with disappointment in Europe’s leveraged finance market, which had been gearing up to finance a £3.32bn leveraged buyout of RPC by US private equity firm Apollo.
-
Three CLOs are moving through the euro pipeline with deals from Hayfin and Pinebridge marketing this week, and Goldman Sachs arranging a deal for CVC Credit Partners.
-
Beth MacLean, executive vice president and bank loan portfolio manager at Pimco, argued in a recent commentary that growing public concerns about systemic risks linked to US leveraged loans ultimately miss the mark, even as regulators around the world continue to ramp up their scrutiny of leveraged lending.
-
Cheyne Capital’s structured investment vehicle (SIV) has finally been liquidated, marking another post-crisis milestone. Cheyne Finance was the first SIV to be forced into wind-down in August 2007, as frozen commercial paper markets stopped it raising funding, and worries about subprime forced it to breach a ‘major capital loss’ trigger and start selling assets. It then entered a restructuring and has been in receivership ever since 2008.
-
Some buy-siders are cheering the slump in CLO issuance relative to 2018, saying underwriting and investor protections are likely to improve on the back of slower deal flow.
