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Latest news
New hire spent spent more than a decade at Arnold & Porter
Deal priced 1bp wide of Oaktree's previous new issue transaction
Deal priced tighter than expected due to temporary US-Iran ceasefire
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Middle market CLO volume is down year on year compared to 2015, with sources saying that middle market managers are exploring alternatives to traditional CLO issuance. -
CLO managers are beginning to ramp up issuance activity ahead of an expected market escalation in September, with three issuers bringing new offerings this week.
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Nordea said that Barclays and JP Morgan, alongside its own investment banking arm Nordea Markets, worked on its landmark €8.4bn synthetic CDO, the bank’s first and the first from the Nordic region.
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CLO manager CIFC is eyeing a September return to the new issue market after sitting on the sidelines to date in 2016, following its acquisition by FAB Partners earlier this month.
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Chenavari Credit Partners has said that European CLO single-B tranches appear "especially attractive" in the primary market, with issuance spreads at an average of 75bp over secondary during July.
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NewStar Financial has issued its first ever broadly syndicated loan (BSL) CLO, the first offering from its newly created Arch Street CLO series, after marketing to investors in both the US and Europe.
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US corporate credit manager CIFC reached a deal to be acquired this month by Jersey-based investment management firm F.A.B. Partners.
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ABS market participants this week are awaiting word on the direction of interest rate policy, as US Federal Reserve chair Janet Yellen is expected to give guidance on the path forward at the Jackson Hole Economic Policy Symposium on Friday.
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A summer rally in the European CLO market is driving asset managers from both sides of the Atlantic to start laying the groundwork for pitching debut deals to investors on the continent.
