Latest news
Latest news
Changing issuance patterns, tight mezzanine spreads and investor demand deliver bumper crop of deals
Deal follows Macquarie's acquisition of Spire, which issued previous Aurium CLOs
Pim van Schie, a portfolio manager at Neuberger, discusses rising investor appetite for CLO mezzanine tranches
More articles
More articles
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US CLO issuers are rushing to market, filling the pipeline and looking to price and close a flurry of deals before the market effectively shuts ahead of risk retention implementation. -
KKR priced its latest CLO just ahead of this week's Thanksgiving holiday to strong investor demand, while also beating the clock to close the deal before the Christmas Eve risk retention deadline.
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US CLO managers are running at full speed to get deals done before the end of the year, but some are already beginning to express concerns that January 2017 could look disappointingly similar to the beginning of this year.
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Issuers priced two new European CLOs at the end of last week, as Ares Management rolled out its new risk retention vehicle and Halcyon Loan Advisors priced its second European CLO in the 2.0 era.
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The US Federal Reserve will respond accordingly to the fiscal policy of a Republican Congress and the incoming administration of Donald Trump, Fed chair Janet Yellen said during a testimony before the United States Congress Joint Economic Committee on Thursday.
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Last week marked what looks like the death of the Trans-Pacific Partnership (TPP), a comprehensive trade agreement that would have heralded closer integration between the US and the high growth economies of the Asia-Pacific region.
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US CLO market players have quickly moved past the shock result of last week’s presidential election, refocusing on the US risk retention deadline on December 24.
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European ABS spreads widened briefly on Wednesday morning after the shock US election result, but quickly recovered.
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US private equity firm Och-Ziff Capital Management closed its first European CLO on Thursday, as pricing of junior CLO debt defies the tightening seen at the top of the capital stack.
