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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Invesco is said to be considering a sale of its portfolio of European collateralized loan obligations, as it shifts focus to its U.S-dollar denominated vehicles.
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The pipeline for collateralized loan obligations is building up with a handful of deals being prepped by managers, including a $400 million deal from BlueMountain Capital Management that comes just 2012 tops $5 billion year-to-date in new issuance. -
Babson Capital Management has priced its $350 million collateralized debt obligation, Babson CLO 2012-I, with the $233.5 million in top-rated liabilities going for LIBOR plus 143 basis points.
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Richard Reilly, former co-head of securitization at White & Case, has joined DLA Piper’s global investment funds practice.
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Italy’s UniCredit is helping underwrite a covered bond program through Turkey’s Sekerbank to raise $448 million with a purchase of 15% of the securities to sell to foreign lenders, similar to a deal it participated in last year.
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Credit Suisse Asset Management and The Carlyle Group both priced collateralized loan obligations totaling $923 million, with CSAM’s $252.5 million in AAA liabilities paying out at LIBOR plus 142, three basis points tighter than the last deal.
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An increase in the volume of collateralized loan obligations so far this year is contributing to an improvement in the leveraged loan market, according to Fitch Ratings.
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Players in the U.S. collateralized loan obligation markets are trading their lower-rated CLO tranches for senior tranches in the secondary market, a move that observers say could result in further tightening in the highest-rated slices.
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ING Alternative Asset Management priced the first collateralized debt obligation of March with the $361.9 million ING IM CLO 2012-1, marketed by Credit Suisse.
