Latest news
Latest news
Manager trims spreads on CLO’s investment grade tranches in partial refinancing
New hire spent spent more than a decade at Arnold & Porter
Deal priced 1bp wide of Oaktree's previous new issue transaction
More articles
More articles
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US CLO spreads have made a comeback as investors alter their thinking on the impact of the last month's UK referendum on EU membership. -
Investors in Europe and the US are looking at the US middle market CLO sector as a hedge against macroeconomic uncertainty in the wake of Brexit.
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Scandinavian asset management firm Accunia priced its debut CLO on Tuesday, as other CLO managers switch from sponsor structures to originator risk retention models to account for the uncertainty over future UK passporting rights.
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Weakness in the Italian commercial property market will hit bondholders in Natixis’ legacy Infinity 2006-1 “Classico” synthetic CMBS deal, after a listed Italian property fund defaulted on a €378m loan backing the bulk of the deal.
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UK CLO managers who fund CLO risk retention through the sponsor route are scrambling to set up alternative structures in the wake of the British referendum result, which could see the end of passporting rules and threaten the ability of UK based managers to run European CLOs.
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Valeant Pharmaceuticals is facing an important test in its ability to reverse its fortunes this summer, as CLO market players say that the fate of the Canadian pharmaceutical giant will have a substantial effect on the sector.
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Copenhagen-based Accunia is about to become the first Nordic asset manager to price a CLO, expecting to price a €360.5m deal this week.
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This year has seen increased cross-Atlantic activity, as European investors hunt yield in the US market and US managers look to set up shop in Europe, eyeing up the tighter spreads available. This could mark the emergence of a truly global market, but will the increasing globalisation of the CLO sector help the European market flourish?
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Two large CLO managers are looking at a potential merger or acquisition of rival CIFC, as the projected wave of manager consolidation gains steam in 2016.
