Latest news
Latest news
Pricing on triple-A notes lands 10bp wider than previous deal in the wake of Iran war
Manager has already used its fourth captive equity fund to invest in five CLOs
◆ Fast money reverses out of SSA bond market ◆ CLO managers face risky ramp startegy ◆ Corporate hybrid bond market runs hot despite volatility
More articles
More articles
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A bid list comprised mostly of senior collateralized loan obligation names was scheduled to trade at 3 pm GMT on Tuesday afternoon, with a smaller list of cash CLO equity names set to follow on Thursday.
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The primary market for collateralized loan obligations surged back into action after two weeks of relative slumber, helping assuage fears that new capital charges from the Federal Deposit Insurance Corporation could force a major investor base in the sector to pull back.
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As many as three banks reportedly bought into a new-issue collateralized loan obligation from New Jersey-based Seix Investment Advisors; a possible sign that new capital charges on the CLO investments made by banks won’t be as much of a hindrance to the booming sector as some feared.
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Oak Hill Advisors this week refinanced three tranches of a leveraged loan fund issued in 2011, shaving nearly 60 basis points off the triple-A bonds.
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A small equity slice of the Queen Street 2007-I collateralized loan obligation traded on Tuesday afternoon at a higher level than anticipated, which a dealer said reflects the sustained appeal of the name in the market.
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Credit Suisse Asset Management is preparing to come to market with a European collateralized loan obligation arranged by Bank of America-Merrill Lynch.
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The return of the European CLO market has taken another leap forward after the successful pricing of two new CLOs in a week. With spreads in the debt tranches of the three CLOs sold this year getting consecutively tighter, CLO specialists expect other big CLO managers will be lining up deals.
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A new private debt fund hopes to entice institutional investors into emerging market loans, but banks must be at the forefront of teaching these newcomers how the market works.
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Industry vets, newcomers, aspirants and the curious piled into the Information Management Network’s second annual collateralized loan obligation and leveraged loan conference in New York last week, with about 1,300 attendees checking in.