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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Prudential Investment Management has begun marketing its first Dryden CLO of 2015 with JP Morgan, as new US issuance struggles out of the starting blocks amid cautious trading sentiment. Elsewhere, Cutwater Investor Services has begun ramping a new CLO, with Royal Bank of Canada as arranger. -
One of Deutsche Bank’s collateralised loan obligation experts has moved back to London after a four and a half year stint in New York, according to a person at the bank.
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UK hedge fund giant Man Group’s decision to buy Silvermine Capital, the US collateralised loan obligation manager, makes Silvermine "immune to risk retention" and could be the first acquisition of many as onerous risk retention rules threaten smaller CLO managers, said market participants.
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Sankaty Advisors and Citigroup have priced Rye Harbour CLO, a €350m European CLO 2.0 with a few structural tweaks from the standard deal. Like most new-style collateralised loan obligations, the deal will be 90% senior secured, with strict limits on unhedged non-euro assets.
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At IMN's European CLOs and Leveraged Loans Conference in London on March 9, GlobalCapital will be presenting 2014's European CLO of the Year Award to the winning manager and arranger, as voted by the market. Read on for more details.
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Investors may demand wider pricing than is currently being talked about for York Capital Management’s debut collateralised loan obligation, as incoming risk retention rules lead to increased price tiering between established managers and newer entrants, according to market participants.
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Credit Suisse has been handed arranger duties on a new collateralised loan obligation from debut New York issuer York Capital Management, according to a person familiar with the situation.
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Fitch Ratings has grown its structured credit ratings team in the US significantly over the past 18 months or so and is continuing to do so, with several more positions to fill as the market grows, especially in collateralised loan obligations.
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Loosening language around what types of assets collateralised loan obligations can hold could lead to more middle market loans making their way into broadly syndicated loan CLOs, market participants told GlobalCapital this week.
