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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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.
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Apollo Credit Management printed ALM V, a $425 million collateralized loan obligation backed by senior secured bank loans and arranged by Citigroup, Thursday afternoon.
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The bump in primary collateralized loan obligation issuance continued this week with a $370.5 million offering from LCM Asset Management.