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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JPMorgan Chase is said to be raising $512.6 million for a collateralized loan obligations for the Carlyle Group.
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Refinancing risk for commercial mortgage-backed securities and collateralized loan obligations is greater in Europe and Asia than in the U.S., according to Fitch Ratings.
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Sankaty Advisors is said to have issued price guidance on its $412.5 million collateralized loan obligation, known as Race Point VI CLO, with the price expected to be set the week of April 30.
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The first quarter of 2012 saw more than $51 billion of new issue securitization in the U.S. and more than $16 billion in Europe, marking the best start to a year since the 2008 financial crisis, according to SI data.
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Collateralized loan obligation issuance in April hit $2.58 billion with the pricing of a $307.86 million CLO from NXT Capital Investment Advisers, making April already the biggest month for CLO issuance since the crisis.
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THL Credit Advisors’ announcement Wednesday that it is set to acquire Alternative Credit Strategies Group, the senior debt credit management unit of McDonnell Investment Management, makes it the latest affiliate of a private equity firm to snap up a collateralized loan obligation manager.
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Spanish bank Banco Santander has initiated a tender offer on bonds in a handful of its asset-backed securities, with the intention of purchasing a total of up to EUR750 million back from investors.
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RBS has increased its projection for collateralized loan obligation issuance in 2012, from $12-14 billion to around $25 billion.
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Three collateralized loan obligations totaling more than $1.88 billion priced this week, including one comprising loans to companies in emerging markets—a type of deal that hasn’t been seen since the market came to a halt in 2008.