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Latest news
Deal includes one of the tightest triple-A prints since spreads widened due to the Iran war
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
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Three collateralized loan obligations totaling more than $1.88 billion priced this week, including one comprising loans to companies in emerging markets—a type of deal that hasn’t been seen since the market came to a halt in 2008.
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ICE Canyon LLC, an investment management firm that specializes in emerging markets, sold a $600 million emerging markets collateralized loan obligation via Jefferies & Co., in the first CLO of its kind since 2007.
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WCAS Fraser Sullivan Investment sold a $450 million collateralized loan obligation via Citigroup, with the top-rated $273.5 million A-1 class pricing at a coupon of LIBOR plus 130 basis points.
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Sankaty Advisors is prepping another collateralized loan obligation from its Race Point shelf via Bank of America, as the pipeline for CLOs continues to grow after a strong first quarter.
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Silvermine Capital Management’s $462.4 million collateralized loan obligation brings issuance in the first week of April to $1.4 billion; a week that also saw some of the tightest levels seen in the primary market since markets fell off amid last summer’s macroeconomic turbulence.
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GoldenTree Asset Management priced its $526.8 million collateralized loan obligation—upsized from its original $419.1 million—with the $313 million in top-rated notes beating recent tights by 10 basis points at 130 bps over LIBOR
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Doral Leveraged Asset Management has issued a $416.15 million CLO marketed by Citigroup Global Markets, bringing year-to-date issuance to just over $6 billion.
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Crédit Agricole is planning to launch a five-year covered bond denominated in euros. Lead managers on the deal in addition to the French bank are Deutsche Bank, ING, Natixis and Royal Bank of Scotland.
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The Carlyle Group has closed it second collateralized loan obligation in less than a year at $510 million, slightly larger than the private equity firm’s first issue last July, which raised $507 million.