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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Click through to cast your vote for GlobalCapital's US CLO of the Year 2014 Award, which will be presented on April 21 at IMN's New York CLO conference.
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The news that Lynn Tilton, founder and CEO of Patriarch partners, was charged with fraud by the US Securities and Exchange Commission on Monday has provided the market with plenty of tabloid-friendly fodder.
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As liability spreads grind tighter in the US CLO market, smaller arrangers looking to gain ground in the space could benefit from more refinancings, market participants say.
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Patriarch Partners founder and CEO, Lynn Tilton, who earlier this week was charged with fraud relating to CLOs, has fired back with a countersuit against the SEC. -
Supply of new issue CLOs was steady this week but is still threatened by low loan supply and tightening loan spreads. Refinancings offer arrangers some hope, though.
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While the recent SOTUS exemption on non-Volcker-compliant CLOs is driving liquidity in legacy CLOs as a triple-A alternative with high carry, some investors are looking at even older paper.
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Despite a glut of new CLO issues this week, a slowdown in US leveraged loan supply has led to a drop in the creation of new asset warehouses this year, according to market participants.
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Participants in the leveraged loan and CLO markets could begin to see an improvement in “woeful” settlement times as new technology replaces inefficient and outdated processes.
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Voya Alternative Asset Management, which rebranded from ING US Investment Management in 2014, is refinancing two CLOs it issued in 2012.
