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10 results found Showing page 1 of 1

  • New issues keep managers busy in summer season
    New issue loans made up 74.1% of volumes in August, supporting US CLO managers looking to ramp up. Spreads tightened to 368bp, but managers can’t complain — it’s much better than in Q1

    18 days ago
  • Wide CLO pricing need not be a drag
    Established managers can price CLO liabilities at attractive levels, but we find that CLOs saddled with higher financing costs have nevertheless been among the market’s outstanding performers

    1 month ago
  • Loan market finds balance as spreads edge wider
    New issue volumes were robust in July with relatively few loan refinancings getting done. Loan portfolio managers say the loan market is finally balanced, having been in favour of borrowers

    1 month ago
  • Tastes change in secondary trading
    Our analysis of the secondary market shows that, since 2013, appetite for CLOs run by tier one managers persists through market dips and rallies.

    6 months ago
  • Consumer lending: questions pile up for debt collectors
    Cabot’s failed IPO has hit bonds across the debt collection sector – and made investors much more cautious. By Euan Hagger

    7 months ago
  • Building new ways to evaluate CLOs
    For CLO investors, there is no longer a question of whether a particular CLO will be reworked; instead, they must judge when, and how dramatically, its terms will change. By Tom Davidson

    7 months ago
  • Who predicted $145 billion of issuance?
    That went better than expected: US risk retention came in, and $145 billion of global new issuance later, it’s clear that CLOs aren’t disappearing. By Tanvi Gupta and Sam Robinson

    8 months ago
  • Managers pick spots on CLO curve
    As refi volumes slowed through 2017, the term curve for CLOs steepened, leading managers to vary their deal tenors as they sought to hit the evolving sweet spot.

    10 months ago
  • CLO managers return to new issues
    The frenetic pace of refis and resets slowed in the third quarter as CLO managers – new and old – turned their attention to building assets

    11 months ago
  • Refinancing and reset options change the face of CLOs
    The CLO market is going into overdrive, with refis, resets and new issue deals combining to give investors an unprecedented choice of maturities.

    1 year ago

10 results found Showing page 1 of 1

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