Latest news
Latest news
Leveraged loan prices rally after post-war dip, with CLO demand remaining strong despite subdued LBO activity
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
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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.
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Collateralized loan obligation veteran Paul Travers has joined Onex Credit Partners as a portfolio manager focusing on the firm’s par and long-only loan strategies.
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U.S. collateralized loan obligations proved to be resilient during the financial crisis with only six deals out of an estimated 650 defaulting, and with three of those subsequently cured, according to Moody’s Investors Service.
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Highland Capital Management is again trying to sell its European collateralized loan obligations business after taking it off the market earlier this year.
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Goldman Sachs has been given the green light to expand its collateralized loan obligation group in anticipation of a comeback in the sector, according to officials familiar with the matter.
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Bankers are looking to Apidos Capital Management’s new $385 million collateralized loan obligation as a fresh marker for the sector as it attempts to brush off European sovereign woes and weeks of upheaval in the U.S. debt and equity markets.
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Frank Byrne has left UBS as global head of securitization.
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The world of collateralized loan obligations is getting smaller, with firms on both sides of the Atlantic seeking to buy and sell platforms.
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Industry officials are raising their objection to section 939F of the Dodd-Frank Act, a controversial provision sponsored by Senator Al Franken (D-Minn.), which proposed a third-party board to parcel out new deals among the rating agencies, as well as a two-year study to investigate the ratings process.