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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Napier Park, the $6bn hedge fund that was spun off from Citi in 2013, is set to price its third CLO of 2014 in the next two to three weeks. Several other deals are in the pipeline but while demand for CLO equity is strong, widening mezzanine spreads are making that part of the capital stack hard to place. -
Dallas-based investment firm Highland Capital Management has hired a new loan and high yield bond trader to support its growing structured products team, and wants to make two more hires this year.
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Mitsubishi UFJ’s head of structured products, Tricia Hazelwood, has added another salesperson to her growing team, this time sourcing the new hire from Royal Bank of Scotland’s shrinking US capital markets business.
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New CLOs continued to hit the US market this week even as issuance of other securitized products slumbered — and that will only continue next week after Labor Day, as regulators turn their attention to risk retention rules after passing Reg AB II on Wednesday.
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Senior levfin banker joins Credit Suisse — DB promotes banker to Chile chief — One in, one out at CIFC board — Covenant covets analyst
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A new North Carolina-based CLO manager is continuing to build up its small team, adding another analyst with the eventual aim of run high-diversity portfolios.
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CIFC Asset Management, one of the most active CLO managers in the US, has appointed a former Ares Management senior partner to its board of directors. Another CIFC board member has resigned.
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Deutsche Bank and middle-market lender Monroe Capital have priced one of the first US collateralised loan obligations to use a 50% originator structure in order to comply with European risk retention rules, enabling a large European institutional investor to buy a big chunk of the senior tranche.
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New leveraged lending guidelines issued by US regulators could change the make-up and risks of CLO portfolios, as non-traditional lenders move into the market to make up for lower lending volumes from more highly regulated banks, according to Moody's.
