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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Upbeat headlines and a subsequent jump in the stock price of Valeant Pharmaceuticals has lifted the mood of US CLO investors, who had believed that troubles at the Canadian drug company would drive defaults in exposed CLOs. -
The wide range in pricing of new issue CLO paper is being driven by differing views of the market between US and Japanese buyers, according to market participants.
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Next year’s deadline for Volcker Rule compliance for securities issued before 2013 is likely to further exacerbate the liquidity crunch in the CLO market, sources told GlobalCapital.
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Continued pressure on equity investors means the European CLO market could be facing a muted second quarter, despite a recent flurry of deals in March, according to panellists at IMN’s Investors’ Conference on European CLOs and Leveraged Loans, held in London on Monday.
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Goldman Sachs has sold a $451.1 CLO for Canyon Advisors, closing out an otherwise quiet week for the primary CLO market.
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Concerns are growing in the US CLO market about the state of pharmaceutical giant Valeant Pharmaceuticals, as the Canadian company's stock price continues to fall, touching the lowest levels in five years in March.
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Trading in the US ABS secondary market in March has seen dealers further reduce their holdings across asset classes.
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The US CLO market maintained its strong new issue momentum this week with seven deals priced, but concerns over price discovery and long-term conditions are affecting the mood and leading to wide disparities in spreads.
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Two new CLOs have landed in the European CLO market, as arrangers take advantage of the market window to launch deals that have been languishing in warehouses for months.
