European Securitization
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Manager sells minority equity stake and achieves tighter pricing than on previous new issue CLO -
The refinancing is Aegon’s first deal since the retirement of one of its portfolio managers was announced
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Pricing on triple-A notes 3bp wide of Signal’s previous new issue
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Matthew Layton, a partner at Pearl Diver Capital, joins AFM to discuss how investors are approaching CLO equity investments
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A Japanese anchor investor bought the deal’s senior triple-A rated notes
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NatWest and M&G both provided funding for the near-prime consumer lender
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Manager prices deal close to market tights, although single-B investors receive higher par subordination than usual
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Single-B rated notes needed a greater discount than planned
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Seller only placed the B and C notes publicly
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Manager refinances 2023 deal, reset in 2024
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Waterfall previously securitized Pepper-originated second charge mortgages under its Citadel programme
