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
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Spire Partners launched syndication on Aurium CLO V through Bank of America Merrill Lynch this week, the first euro CLO this year to be priced without an anchor from Norinchukin Bank. The senior notes were printed at 114bp, 6bp wider than the Japanese buyer’s recent commitments. -
A €360.25m CLO from BlueMountain Capital, BlueMountain Fuji Eur CLO IV, was priced on Monday with the senior notes coming in at 108bps over three month Euribor, continuing the run at that level for all new CLOs to be sold so far this year.
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Lloyds Bank's former head of loan markets, who subsequently became its global head of industrials and manufacturing, has left the bank.
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Law firm Morgan, Lewis & Bockius announced on Friday that it had added Paul St. Lawrence, an attorney with expertise in collateralized loan obligations, as a partner in its Washington, DC practice.
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The Carlyle Group and GSO Debt Funds Management both priced new European CLOs on Friday, selling the senior bonds at 108bps over Euribor, a strong sign for the euro CLO space as it clears the January hurdle.
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Loans have bounced back from their steep selloff in December, but the recovery has lost some of its steam as new CLO warehouse capital to buy loans proves less abundant.
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A handful of new issue CLO deals to debut in 2019 have been structured with shorter non-call and reinvestment periods. While that may reflect a bearish economic outlook in the medium-term, some market watchers chalk it up to the sell-off in the loan market last autumn and bets on the shape of the yield curve.
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US credit manager CIFC Asset Management has launched an undertakings for collective investment in transferable securities (UCITS) fund in the Republic of Ireland.
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As worries about the leveraged loan market have entered the mainstream, there’s an obvious villain: the booming CLO market, which has expanded, gobbling up whatever the stretched lev loan mart can feed it. But not all heroes wear capes. Despite being a three-letter acronym, these vehicles could be the heroes we need.
