Latest news
Latest news
Spreads on CLO liabilities stay wide, making resets for deals from multiple vintages unattractive
Fund is designed to invest in the equity in Bain’s CLOs, but can also invest in liabilities
Manager trims spreads on CLO’s investment grade tranches in partial refinancing
More articles
More articles
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Covenant Credit Partners, which is about to price its second collateralised loan obligation, has hired a new portfolio manager to join its management team.
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The US CLO market took a turn for the worse this week, with new issue spreads widening and a large proportion of secondary market bid lists failing to trade. Illiquidity in CLOs and a widening in the underlying leveraged loan market is now causing problems in the primary market, particularly for equity investors. -
Guggenheim Securities has bought the European brokerage arm of Lazard Capital Markets, in a move which signals the start of the broker-dealer’s European expansion plans. The new entity will be branded Guggenheim Securities International.
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Cantor Fitzgerald has hired a collateralised loan obligation trader in its New York office, as it seeks to build out its new issue CLO business. At the same time, it is looking to replace its head of euro CLO origination, who is no longer with the firm.
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PineBridge Investments, a global asset manager overseeing around $73bn, has hired a veteran structured credit trader and investor with a background in CLOs as a portfolio manager in its New York office.
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European CLOs are coming thick and fast, with deals pricing this week from GSO Capital, Carlyle and Alcentra, plus rumoured mandates from ICG and Avoca.
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European CLOs are coming thick and fast, with deals pricing this week from GSO Capital, Carlyle, and Alcentra, plus rumoured mandates from ICG and Avoca.
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Moody’s Analytics is expanding its structured finance portal, a loan-level data analytics platform initially focused just on collateralised loan obligations, to include certain forms of ABS.
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The spreads paid on senior European CLO notes by managers in the next couple of weeks could be some way inside the average for the year, despite as many as four transactions being ready to price after a lengthy quiet period for the primary market.
