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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A young North Carolina CLO manager is looking to expand its small team with three new hires in the next couple of months, according to a person at the firm.
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3i Debt Management and Babson Capital Europe loaded themselves into an already crowded European CLO pipeline this week, fuelling optimism among CLO bankers who are eyeing 2014 issuance of over €12bn. But as primary market prices on senior bonds remain stubbornly around the 135bp mark, concerns remain over the effect of a strengthened loan market on overall returns.
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Smaller and younger US CLO managers without a proven track record could see their paper being indiscriminately sold off if volatility hits the leveraged loan market, participants have told GlobalCapital. -
Smaller and less established US CLO managers without a proven track record could see their paper being indiscriminately sold off if volatility hits the underlying leveraged loan market, participants have told GlobalCapital.
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CIFC is forging ahead with its new middle-market CLO platform, despite losing a managing director to a specialist middle-market lender.
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Babson Capital has joined an extensive pipeline of prospective European CLO 2.0 issuers, looking to print its second post-crisis euro transaction. Bankers are looking forward to robust supply for the second half of the year, but concerns remain over the effect of a strong loan market on overall returns.
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CLO managers in the US face a choice between pricing huge deals like Credit Suisse Asset Management’s $1.036bn Madison Park XIV CLO, or keeping their transactions smaller in order to achieve tighter pricing, said bankers.
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Nomura has hired an ex-Royal Bank of Scotland CDO trader to work on its London CLO trading desk, a year after he lost a lawsuit contending that he was unfairly fired from RBS.
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The Loan Market Association has called on the European Central Bank and Bank of England to consider the regulation of collateralised loan obligations in isolation, saying that encouraging more CLO managers into the market is vital for loan market liquidity and European corporate financing.
