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
More articles
More articles
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Spreads on new-issue collateralized loan obligations continued to fall with the pricing of a $450 million deal from American Money Management Corp.
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A $518.25 million collateralized loan obligation from LCM Asset Management, which is owned by Tetragon Financial, saw its $321.25 million AAA-rated tranche priced in line with recent tights on the primary market, at 147 basis points over LIBOR.
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Invesco Senior Secured Management has priced a $465.34 million collateralized loan obligation after a prolonged marketing period, upsizing the transaction by $104.78 million.
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Tom Majewski, managing director in the asset-backed finance group and head of collateralized loan obligation origination at RBS has left the bank.
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New York Life Investment Management is looking to raise a $406.65 million collateralized loan obligation, and to price the top-rated portion at lower spreads than other recent deals.
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An alternative asset manager founded by former Banc of America Securities executive Stephen Ketchum is making the rounds with investors for a $300 million debut collateralized loan obligation; one of at least two new managers to enter the space in recent weeks.
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LCM Asset Management will tap the collateralized loan obligation market for the third time this year, this time with Bank of America arranging.
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GSO Blackstone Debt Funds Management’s $563.9 million Marine Park collateralized loan obligation saw its top-rated $321 million tranche bought up at 147 basis points over LIBOR, affirming a trend of spread tightening in the primary market.
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A weekly roundup of securitization sectors with year-to-date totals in ABS, CMBS, RMBS and CLOs in the U.S. and Europe.