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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A top securitization lawyer has rejoined Cadwalader, Wickersham & Taft to expand the firm’s structured finance practice in London.
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A bill that would exempt certain collateralised loan obligations from the Volcker rule is up for consideration in the House of Representatives today. If it gets through Congress, it could ease fractious negotiations between bank investors in triple-A notes, CLO managers and holders of other tranches over whether or not to Volckerise legacy transactions. -
One of the largest CLO managers in the US has sent out a proposal to make a legacy deal from 2012 complaint with the Volcker rule, according to people familiar with the situation.
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Upcoming risk-retention rules for securitization in the US could lead CLO issuance, which hit almost $80bn this week, to grind to a halt almost overnight, according to several market participants who took part in a roundtable organised by GlobalCapital this week.
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Royal Bank of Canada has added to its growing securitization team, hiring a CLO trader from Royal Bank of Scotland’s shrinking securitization team.
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Robert Reynolds has joined Spire, the European leveraged debt asset manager, as chief investment officer and partner.
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A CLO strategist who left Royal Bank of Scotland’s dwindling Stamford, Connecticut office last month is set to move to a Florida-headquartered mortgage specialist to lead a push into the booming US CLO market.
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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.
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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.
