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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Apollo Global Management has made two new hires within its structured credit investment team in the US, bringing on a former sell-side CLO structurer from Bank of America Merrill Lynch and a trader from Citi.
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As Deutsche Bank continues preparing new CLOs for Par-Four Investment Management and Crescent Capital, the US CLO market seems impervious to the summer slowdown that is taking hold in other securitized products. But increased issuance this year could come at the cost of softer spreads in the higher reaches of the capital stack unless the investor base deepens, said analysts. -
Spurred on by investors’ hunger for higher-yielding securities, Wall Street’s largest banks are taking advantage of a boom in energy and infrastructure financing to come up with rare hybrid securities based on collateralised loan obligations.
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Spurred on by investors’ hunger for higher-yielding securities, Wall Street’s largest banks are taking advantage of a boom in energy and infrastructure financing to come up with rare hybrid securities based on collateralised loan obligations.
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Earlier this month, Apollo Global Management — which picked up the Best CLO Manager award at GlobalCapital’s Securitization Milestones Awards last week — priced the largest CLO since the financial crisis. Joe Moroney, senior portfolio manager at Apollo in New York, caught up with GlobalCapital to discuss the issues affecting the market and explain why spreads will not tighten without regulatory resolutions.
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Earlier this month, Apollo Global Management — which picked up the Best CLO Manager award at GlobalCapital’s Securitization Milestones Awards last week — priced the largest CLO since the financial crisis. GlobalCapital caught up with Joe Moroney, senior portfolio manager at Apollo in New York, to discuss the issues currently affecting the CLO market.
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Market analysts are warning investors to exercise caution as leverage continues to drive the booming market for collateralized loan obligations, which have surpassed last year’s deal flow volume by almost 40%.
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The already intense pressure on US regional banks to make their CLO holdings comply with the Volcker rule ratcheted a notch this week as the Office of the Comptroller of the Currency released a set of guidelines for bank examiners enforcing the Volcker rule.
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The already intense pressure on US regional banks to make their CLO holdings comply with the Volcker rule ratcheted a notch this week as the Office of the Comptroller of the Currency released a set of guidelines for bank examiners enforcing the Volcker rule.
