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RBC slashes CLO b-wic fees to one cent for one week
7 years ago
Dealers are competing more aggressively than ever before in the CLO secondary market. -
CLO rally continues as several US double-Bs trade above par
7 years ago
The US CLO rally continued yesterday as a $35 million mezzanine list traded in full. -
€68 million of CLO seniors go up for sale with wide range of bids expected
7 years ago
As the US takes a day off, a variety of triple-A rated European CLO tranches will go under the hammer later today as part of a €68 million auction. Dealer price talk seen by Creditflux suggests DMs could fall within an 80bp range -
CLO investor shakes things up with two-stage b-wic
7 years ago
An unusual $37 million CLO bid list is doing the rounds ahead of an auction deadline of 2pm New York time today. Sources say that the seller, a 2.0 CLO mezzanine and equity investor, has specified certain ground rules for the auction -
Japanese bank hires well-known CLO specialist for sales effort in New York
7 years ago
Mizuho has continued its push into the CLO market by hiring an experienced trader who has worked at banks including Lehman Brothers and Goldman Sachs -
Top investors prepare to look at CLO relative value in a new way
7 years ago
Creditflux will look at CLO relative value in a new way at the upcoming CLO Investor Summit, held in New York on 9 November -
Prophet stuns CLO’s investors as it seeks redemption ahead of time
7 years ago
Control equity investor shocks the market by calling a CLO which still has two years of its reinvestment period to run -
SEC bans former Goldman Sachs RMBS trader for misleading clients
7 years ago
The SEC has banned former Goldman Sachs RMBS trader Edwin Chin from the securities industry and fined him $400,000 for practices which boosted the firm’s profits -
Banks defy brexit to bring liquidity to Europe’s secondary CLO market
7 years ago
Dealers are stepping in to boost liquidity in European CLO trading -
Two banks dominate as $102 million trades in CLO secondary market
7 years ago
Two dealers emerged as the dominant players on another busy day in the secondary CLO market yesterday -
CLO investors scoop up mezz in secondary market
7 years ago
CLO traders again took advantage of the rally in mezzanine pricing yesterday as several more triple-B and double-B tranches traded in the secondary market -
CLOs continue to rally on busy day in secondary market
7 years ago
Despite the Easter break in Europe, Monday was a busy day for US CLO traders as several b-wics surfaced in the secondary market. -
Japanese bank makes big inroads into CLO market-making, sources say
7 years ago
Market sources say that a bank's New York CLO trading desk was either the best bid or cover bid for 62% of mezzanine bonds that were available through b-wics last Thursday -
Hildene makes senior hire as it prepares secondary CLO push
8 years ago
A high-level CLO trader has resurfaced at Hildene. The Stamford-based manager is building its infrastructure in anticipation of further distress in the CLO market -
Investors bid up CVC Credit CLO as double-B spreads tighten
Double-B CLO prices are staging a recovery in the secondary market, according to buy-side sources -
Bad news for budding double-B buyers as CLOs show signs of recovery
8 years ago
Mezzanine tranches have taken a battering in the last quarter with CLO NAVs slipping dramatically. But there are signs that the tide is beginning to turn. -
Triple-A-rated 1.0 tranche trades north of 250bp in CLO secondary
8 years ago
A legacy KKR CLO, which is a prime call candidate, saw its originally single-A tranche (now rated triple-A) traded at a discount to par yesterday. -
New Carlyle CLO equity tranchelets generate huge investor demand
8 years ago
CLO investors have been scrambling to get a piece of two recently issued Carlyle CLOs that feature “tranched equity” structures -
Euro CLO equity price talk highlights sharp contrast with US NAVs
8 years ago
A large number of European CLO equity tranches are up for sale in the secondary market today, according to CLO-i B-wic tracker. -
Investor turns to owic as it seeks out $72 million of CLO tranches
8 years ago
A mystery investor is looking to buy up to $72 million of CLO tranches across the capital stack in the secondary market today, according to trader sources. -
Forced-seller rumour leads to derisory price talk in CLO secondary
8 years ago
Plummeting CLO net asset values and rumours of a forced seller caused secondary market price talk to hit new lows on Friday, as two single-B tranches circulated with price talk of 10 cents in the dollar -
CLO investors pile in with above-par bids for unusual Prudential deal
8 years ago
It is rare that a CLO 1.0 tranche trading above par in the secondary market is considered cheap, but sources say one 2006 vintage bond fit that profile yesterday -
Experienced CLO trader to end 15-year stay at bank in New York
8 years ago
Market sources say that a key CLO trader is leaving a bank, which has reduced the amount of capital it is dedicating to the secondary CLO market -
Double-B spreads hit 1,500bp in tough secondary market
8 years ago
CLO mezzanine paper took another battering in the secondary market yesterday, as two 2014 double-B tranches traded wide of 1,500 basis points -
CLO equity trading goes private as bid-offers soar
8 years ago
The secondary market for CLO equity moves away from using bwics in January according to buy-side sources
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