Latest news
Latest news
Leveraged loan prices have rallied from their 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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Business Development Companies, or BDCs, are being touted as the next big thing for managers of collateralized loan obligations, with an estimated 15 new vehicles said to be in the works for public offering, according to bankers and collateral managers.
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BlackRock has sold half of the equity of its recent $400 million collateralized loan obligation to third-party investors, according to an official close to the transaction.
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Dealers are scoping out trading opportunities in legacy collateralized loan obligations as Moody’s Investors Service works to revise its default assumptions imposed in the wake of the mortgage crisis. Legacy CLOs, BBs and single B- tranches in particular, are being sized up as new trading opportunities.
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Apidos Capital Management is looking to raise a new collateralized loan obligation this quarter, its first vehicle since the financial crisis hit the market. The firm has been actively buying contracts from other managers in the ensuing consolidation period, and still has its eye on more acquisitions. Gretchen Bergstressser, senior portfolio manager, and Christopher Allen, chief operating officer, recently sat down with TS Managing Editor Joy Wiltermuth to discuss their strategy. -
Standard & Poor’s has placed nearly $2.9 billion worth of U.S. collateralized debt obligations on watch for possible upgrades after months of downgrading billions of CDOs. S
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A loophole in the Dodd-Frank Act may exempt collateralized loan obligations from proposed risk retention rules.
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Legacy European collateralized loan obligations have rallied 35-40 basis points since the Japanese earthquake, with secondary AAA spreads narrowing to LIBOR plus 200-225 bps, according to traders.
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San Francisco-based KKR Financial Holdings, the specialty finance arm of global buyout firm Kohlberg Kravis Roberts & Co., is scoping out opportunities in Europe to acquire legacy commercial real estate bank loans with an eye to launching future collateralized loan obligations.
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Lloyds Banking Group retained its £1.55 billion ($2.56 billion) project finance collateralized loan obligation, Gable Funding, due to a lack of investor appetite for floating-rate paper.
