Latest news
Latest news
Deal was refinanced with very tight spreads in 2021 and has been out of reinvestment since 2023
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
More articles
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Sales of new collateralized loan obligations are expected to end February at their highest level since the financial crisis amid falling rates, according to Standard & Poor’s.
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Onex Credit Partners has priced its $325 million OCP CLO 2012-1, upsized from $300 million.
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Octagon Credit Investors upsized its collateralized loan obligation to $358 million from $308 million and priced the deal’s $270.9 million Class A tranche tighter than similar bonds from recent CLOs.
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Collateralized loan obligations are tough enough to withstand twice the default levels seen in economic crisis beginning in 2008, and some new-issue CLOs could even withstand more, according to Royal Bank of Scotland research.
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American Money Management is in the market with a $400 million collateralized loan obligation with price talk in line with other similar deals to come to market in the last month, in the area of 148-150 basis points on the AAAs, market players say.
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The consolidation of U.S. collateralized loan operations managers may be a positive for bondholders, says Fitch Ratings.
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U.S. Bank Global Corporate Trust Services named senior v.p. Tom Cubitt head of European corporate trust business in London.
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Octagon Credit Investors is said to be in the market with a $300 million collateralized loan obligation with price talk in the area of 145 basis points over LIBOR for the AAAs.
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Ares Management has priced an upsized $430 million collateralized loan obligation, Ares XXIII CLO.