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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Barclays' head of loan syndicate for Europe, the Middle East and Africa is set to leave the role in the next few weeks. -
Investment manager CVC Credit Partners has closed its latest fund, a $1.42bn vehicle that will focus on distressed opportunities across North America and Europe.
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The issuer of the long-troubled synthetic CMBS Juno (Eclipse 2007–2) missed a deadline for submitting its 2017 financial statements and its annual return last Friday. This means it risks being struck off the register of Ireland’s companies and having its remaining assets transferred to the government.
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European securitization investors this week are pricing longer duration deals tighter than earlier in the year, made comfortable by the ‘simple, transparent and standardised’ (STS) label. This is being demonstrated on Tuesday by Argenta Spaarbank's Green Apple RMBS deal.
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Thank you very much for inviting me to this roundtable, and for the opportunity to give kick off with some thoughts and observations. I took some time to think about what I would say today, and decided to google the latest news in the area.
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Adam Forchheimer, previously head of US high yield bridge financing at Credit Suisse and a managing director in the bank’s leveraged finance division, has left the bank after 13 years to join Owl Rock Capital, a New York-based direct lending fund that targets the US middle market.
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CLO activity continued unabated last week despite the three day Global ABS conference in Barcelona, with Napier Park, CIFC and Tikehau offering up deals.
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The CLO market has recently stalled due to a slowdown of investment from Japanese firms. Market participants say that this has been largely driven by negative media attention surrounding CLOs, and feel frustration that the asset class is still strongly associated with CDOs and the US subprime crisis.
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Edward Altman, creator of the Z-score metric predicting corporate bankruptcies, has co-founded a new company that automates credit scores for small and medium sized firms. That could help provide ratings for the SME CLO market.
