Latest news
Latest news
Major sectors in leveraged loans are trading down, making shrewd credit selection vital
Deal is one of the tightest prints this year and is the second European CLO solely arranged by Mizuho
Debut manager is launching a CLO platform building on leveraged loan market experience
More articles
More articles
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CLO managers Barings, Alcentra and PineBridge all priced refinancings of European CLOs last week, announcing plans to reissue notes and cut liability costs in the new year. -
The long wait for the US Federal Reserve to hike interest rates ended this week and implications for further tightening produced a mixed outlook for ABS markets.
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For all the noise in the US and EU markets this year over risk retention and the harm that it causes issuers and market participants, many in the market admit privately to quite liking the idea.
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Slow responses from Polish banks have delayed syndication of the Z5.14bn (€1.16bn) of loans for the leveraged buyout of Allegro, the online marketplace, with demand for the deal from local lenders weaker than expected, according to two bankers.
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US CLO investors say they are feeling squeezed by the trend of managers resetting and refinancing deals, reissuing them with looser terms and less attractive spreads.
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Axalta — Ezdan — Sharjah — Saudi British Bank
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Octagon Credit Investors priced its fourth and final deal of the year on Wednesday, as investor appetite shows little sign of abating going into the end of 2016.
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The first European CLO reset deal in the ‘2.0’ era has pushed triple-A spreads to a new low, as a string of issuers look to take advantage of tight CLO debt spreads to extend and refinance existing transactions.
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The middle market CLO sector is nearing the end of a slow 2016, with market players hoping that they can sidestep some of the issues facing their counterparts in the broadly syndicated sector in 2017.
