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
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The primary market in arbitrage CLOs, long hamstrung by regulatory confusion when it seemed that risk retention rules designed for RMBS might apply also to CLOs, could be set for a comeback. New guidelines from the European Banking Authority might now have cleared the way for deals to return — but not until spreads start to line up.
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Equity returns in primary collateralized loan obligations are still attractive, despite broad volatility dogging the market since early August, according to Russell Morrison, managing director and head of high-yield investments at Babson Capital Management.
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New Amsterdam Capital Management, a European credit manager, is looking to purchase one or two collateralized loan obligations as part of its expansion plans, according to John Seal, a partner at the London-based firm.
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Rumors have swirled in Europe that governments could be preparing an aggressive capital injection program for banks that would resemble the U.S. Troubled Asset Relief Program.
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More collateralized loan obligation managers are stepping up purchases in the loan market as retail loan funds and other investors flee amid market jitters and sustained turmoil.
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The pricing this week of Apidos Capital Management’s $350 million collateralized loan obligation is being viewed as a positive sign as the sector looks to find its feet amid weeks of market turmoil.
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Moody’s Investors Service has upgraded the ratings on an estimated 287 billion worth of collateralized loan obligations that were lowered during the financial crisis.
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RBS Securities has named Tom Majewski as managing director and head of collateralized loan obligation origination in its asset-backed finance team in the Americas.
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Citigroup is said to be looking to unwind more than $2.2 billion in collateralized loan obligations it created as part of its plan to dispose of collateral held in Citi Holdings, the “bad bank” it set up.