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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Liquidity in the CLO market has improved “materially” in the second half of this year, but in the wake of enormous volatility in the first quarter that put the sector in a deep freeze, the trading landscape has been altered.
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The senior tranches of new issue CLOs are becoming an exclusive club consisting of US bank treasury departments, according to sources speaking with GlobalCapital.
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Manager flexibility and a strong buyer base has helped drive the European CLO market forward since the UK Brexit vote, but increasing diversification is a key challenge for managers to overcome, conference goers in Barcelona heard on Tuesday. -
PGIM has reopened the European CLO market with its second deal of the year, as managers contend with a difficult leveraged loan market that is hampering primary activity.
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The CLO market's best hope of easing risk retention rules is likely to come during a lame duck session of Congress, given the highly politicised atmosphere leading up to the US Presidential and Congressional elections in November.
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A rush of both reset and new issue CLO deals is heating up competition in the new issue market, as managers look to sell to a limited number of investors.
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The US House Financial Services Committee, has moved to pass the Financial CHOICE bill, a wide ranging reform of the Dodd-Frank Act which would essentially exempt non-RMBS securitized assets from risk retention.
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Two leading figures in US central banking gave speeches on Monday which once again left those looking for an indication on the future of US interest rates disappointed.
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Chinese investors are beginning to invest in US CLOs, according to sources speaking to GlobalCapital, as issuers continue to rely on global interest in the product.
