Latest news
Latest news
Manager takes advantage of tight spreads available for refinancings to cut triple-A pricing by 14bp
How securitization can help high LTV mortgage lending, and why is the CLO market so busy
Portfolio includes private credit transactions originated by Sona and broadly syndicated loans
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Benchmarks that anchor asset-backed, mortgage-backed and derivative contracts should be more closely tied to real observable transactions, Gary Gensler, chairman of the Commodity Futures Trading Commission, told a European Parliament public hearing Monday.
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Oak Hill Advisors principal Scott Snell has jumped to BlackRock’s structured products group in New York.
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Tom Majewski, managing director in charge of collateralized loan obligation origination at The Royal Bank of Scotland, has left his position at the bank’s Stamford, Conn., office to start a CLO equity investment fund.
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Sound Point Capital Management priced its debut collateralized loan obligation, with the top-rated tranche selling at a spread of 158 basis points over LIBOR.
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Investors buying primary and secondary collateralized loan obligations in their search for yield may want to weigh the relative value of new-issue deals against the pre-2008 vintages, according to RBS analysts.
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Spreads on new-issue collateralized loan obligations continued to tighten with the pricing of The Carlyle Group’s $615.86 million deal, arranged by Citigroup.
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Tom Majewski, RBS managing director in charge collateralized loan obligation origination, has left to start a CLO equity investment fund.
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A $409.3 million collateralized loan obligation from New York Life Investment Management saw its top-rated tranche sell at a spread of 145 basis points over LIBOR; the second CLO this week to price the level, confirming the general tightening in CLO spreads in recent weeks.
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Secondary market activity in European securitization continues to be dominated by bids-wanted-in-competition, with several lists emerging midweek from hedge funds looking to lighten up books and take some profit.