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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The US CLO market is maintaining momentum, with three deals priced on Friday to round off a positive week for the primary market, though concerns over price discovery and long term conditions are affecting the mood. -
The European and US CLO markets are warming up after a moribund start to the year, with managers bringing a flurry of deals to jumpstart the sector this week, write David Bell and Sam Kerr.
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BNY Mellon has hired a new head of its corporate trust business in Europe, the Middle East and Africa (EMEA), as it aims to develop its interests in the loan market.
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Improving macroeconomic sentiment and increasingly positive market fundamentals are jumpstarting the CLO market, with primary issuance picking up and investors loosening some criteria when investing in new deals.
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CVC Credit Partners’ first European CLO of the year was priced on Thursday, with spreads on the triple-As grinding back to the 150bp level.
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Improving credit fundamentals are helping the European CLO market to wake up after a sluggish start to the year, as three managers look to hit the primary market with new deals by the end of the month.
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A break in macroeconomic volatility over the past several weeks has opened up a window for secondary spreads in many ABS asset classes to stabilise, and in some cases reverse some of the widening that took place over the first six weeks of 2016.
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A break in market volatility in recent weeks has injected new life into the US CLO market, following a tepid start to 2016.
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Highbridge Capital Management has priced its latest US CLO, as the primary market shows renewed vigour after a slow start to the year.
