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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CLO manager tiering has hit an inflection point in 2016, with spreads between managers varying as much as 30bp at the top of the stack.
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The CLO investor base is changing at both the bottom and top of the capital stack, with shifts in the kinds of buyers willing to participate being more of a make-or-break factor for deals than ever before, according to panellists at Information Management Network’s Investors Conference on CLOs and Leveraged Loans held this week in New York.
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The US House of Representatives is set to decide this summer the fate of HR.4166, a bill to ease risk retention requirements for CLOs.
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The retail sector is becoming a headache for leveraged loan and CLO managers according to speakers at IMN’s Investors’ Conference on CLOs and Leveraged Loans, held in New York on May 16-17. -
Apollo Management International priced a €357m European CLO last Friday, after reducing the size of the deal, as expensive collateral weighs on equity returns in CLO structures.
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Octagon Credit Investors is marketing its second CLO transaction of 2016, continuing the sector's new issue revival.
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Spire Partners, which issued its debut CLO last year, announced a €360m deal on Thursday morning, amid a battle for managers against changing dynamics in the European CLO market.
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New details in the saga of Canadian healthcare giant Valeant Pharmeuticals have once again plunged the CLO market into a debate over credit quality.
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Historically wide CLO spreads, particularly in the triple-A tranches, are making managers reluctant to price new deals, depressing total issuance in 2016, according to sources speaking to GlobalCapital.
