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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Caixabank has structured a synthetic CLO transferring the risk on a €2bn portfolio of loan and lease obligations to Spanish small and medium enterprises (SMEs). -
US non-agency RMBS, CLOs and CMBS saw an uptick in secondary market activity last week as widening spreads have made for an attractive entry point in many securitized asset classes.
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Credit quality of companies backing US CLOs is sliding, with energy exposure the primary driver of the increase in default risk, but European CLOs remain comparatively unaffected by the trend.
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The CLO market is likely to play less of a role in refinancing corporate debt than it has in the past, given lower new issuance, even as the demand for refinancing of speculative debt is set to soar in the next four years.
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NewStar Financial has priced the third CLO of the year, a $348m middle market deal backed by a portfolio of SME loans.
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The dearth of primary market CLO issuance so far in 2016 is being driven partly by a wave of activity in the secondary market, said investors this week.
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BlackRock has sold its debut European CLO, after starting marketing for the transaction late last year, but holding off launching it because of tough market conditions.
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More insurance companies may soon turn their attention to the CLO market, according to one of the world’s largest insurance company asset managers.
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Mezzanine spreads have widened in European CLOs by 100bp-200bp in a matter of weeks, with further volatility expected, but one investor said on Tuesday there was no need to panic.
