Latest news
Latest news
The triple-A rated notes' spread widened by 25bp compared to the original deal
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
More articles
More articles
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The declining arbitrage levels in the European broadly syndicated loan CLO market are not leading managers to change their approach to asset selection, Moody’s analysts told GlobalCapital this week.
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The Fed risks derailing the lobbying momentum for grandfathering of existing deals with its decision to give banks two more years to make sure their CLO investments conform with the Volcker Rule’s ban on deals that include bond collateral, sources told GlobalCapital this week. -
The Fed’s decision to give banks two more years to make sure their CLO investments conform with the Volcker rule’s ban on deals that include bond collateral falls short of the full grandfathering regime the industry was hoping for — and risks derailing the positive momentum the market chose to believe was driving efforts to soften the impact of the rule, sources have told GlobalCapital.
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The declining arbitrage levels in the European broadly syndicated loan CLO market are not leading managers to change their approach to asset selection, Moody’s analysts told GlobalCapital on Tuesday.
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GSO Capital Partners has picked up in 2014 just where it left off in the European CLO market late last year, after increasing the size of its Holland Park CLO by more than €100m this week.
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The return of large bank investors like JP Morgan and Wells Fargo to the market for triple-A CLO paper this week has boosted demand, helping managers increase their deal sizes as optimism about potential grandfathering of existing CLO deals under the Volcker rule took hold. At the same time, strong equity demand is helping supercharge the market.
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The return of large bank investors like JP Morgan and Wells Fargo to the market for triple-A CLO paper this week has boosted demand, helping managers upsize their deals as optimism about potential grandfathering of existing CLO deals under the Volcker rule took hold. At the same time, strong equity demand is helping supercharge the market.
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The trend to covenant-lite loans in Europe is gathering pace, causing some consternation among the continent's conservative lenders, with food maker Diana Ingredients this week lining up to follow French compatriot Ceva Santé Animale which last week closed the first all-euro covenant-lite deal in years.
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Voting has now closed for the GlobalCapital US CLO Deal of the Year Award, which will be presented at IMN's CLO Conference in New York on April 22.
