European Securitization
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◆ Fast money reverses out of SSA bond market ◆ CLO managers face risky ramp startegy ◆ Corporate hybrid bond market runs hot despite volatility -
Manager tightens spread on triple-A rated notes by 23.5bp compared with the original deal
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Lower loan prices offer higher equity returns but managers face rally risk once deals are priced
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Strong demand for Multilease’s deal raises hope spreads can return to pre-Iran war tights
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Despite the allure of lower loan prices, CLO managers should print deals cautiously
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Deal raises questions about whether transaction was done at arm's length
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Triple-A pricing widens by just 8bp from previous deal, in spite of the Iran war
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Joanna Chan is taking on the role of head of strategic capital
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Software loan sell-offs and the Iran war have caused US and European loans to price differently
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Multilease prices its second euro-denominated deal
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RCI is also marketing a German auto lease ABS
