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
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CLO investors told GlobalCapital this week that a recent widening in European CLOs has represented a buying opportunity, as they expect spreads to track inwards again once the next clutch of euro-denominated deals emerge into the primary market.
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CLO investors told GlobalCapital this week that a recent widening in European CLOs has represented a buying opportunity, as they expect spreads to track inwards again once the next clutch of euro denominated deals emerge into the primary market.
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A CLO manager set up earlier this year by Moelis Asset Management has hired a fund analyst from CIFC Asset Management to join its growing team.
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Fair Oaks Income Fund, the first CLO fund to float on the London Stock Exchange since the financial crisis, has said developments in the European market have opened the door to it becoming an originator.
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Alcentra may be next to tackle the primary European CLO market after releasing the structure of its third euro deal of the year this week, but the manager may be faced with the same wider junior tranche spreads that hit Chenavari’s Toro transaction a week ago.
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A well-known face on CLO conference panels is the latest departure from Royal Bank of Scotland’s US office in Stamford, Connecticut, as the bank sheds its staff in that market.
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Standard & Poor’s may have handed bank investors — at loggerheads with CLO equity holders over implementation of the Volcker rule — a powerful advantage after the rating agency tweaked its corporate recovery rating process. But some see it as a thinly veiled attempt to regain market share from Moody’s, writes Will Caiger-Smith.
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Standard & Poor’s has tweaked its corporate loan recovery ratings, indirectly affecting CLO recovery value tests and prompting managers to consider returning to the agency after preferring Moody’s. What a coincidence.
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CIFC Asset Management has picked up two CLO bankers from Royal Bank of Scotland's US headquarters in Stamford, Connecticut, as the UK government-owned bank retrenches from the market.