European Securitization
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Competing issuance and volatility makes timing deals tricky -
Busy week ends with bumper preplaced deal from Black Horse but two week break in supply now likely
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◆ What to make of a volatile week ◆ Santander's Holmes deal priced ◆ CLO managers debate sell-off implications
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Manager reduces WACC on 2022 deal despite lower seasonal liquidity and broader volatility
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Arranger postponed pricing of lowest rated tranches following market volatility
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There's little consensus on the impact broader volatility will have on CLO and leveraged loan markets
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The refinancing secured a 40bp discount
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Managers will need to be proactive in a market that can violently turn
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Santander pushes past volatility thanks to extensive pre-marketing but asset managers take a back seat
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Alex Martin joins Milbank's alternative investment team after John Goldfinch's departure
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Move from guidance happened before broader volatility took hold as investors become more hesitant
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Elsewhere, Nuveen recruits new CLO MD and Arini promotes from within
