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New CLO equity is being locked up
6 years ago
In what could be a sign of things to come, controlling blocks of equity in CLOs subject to risk retention have not been readily available in the secondary market this year. By Tanvi Gupta -
CSAM-managed CLO's junior notes trade at 104.53 in secondary market
6 years ago
A stake in the double B notes of CSAM's 2012 CLO traded at 14:00 yesterday after circulating on a B-WIC -
US CLO round-up: New Jersey managers come to market in style
6 years ago
After a slow start following Labor day, four US CLOs have priced this week – including a deal arranged by Goldman Sachs for Zais -
US CLO round-up: 2017's leading managers come back for more
6 years ago
Three of the most active managers in the CLO market this year – including two who dared venture into the primary market in the opening weeks of 2017 – returned to price their latest CLO transactions this week. We look at which managers have been most active in 2017 across new issue, refis and resets -
L-shape position trades from manager's 2016 US CLO
6 years ago
Several of the debt tranches and a sizeable amount of equity in Zais CLO 5 traded from a b-wic yesterday, in one of the more unusual secondary CLO market trades of recent times. -
Spotlight: Local exchange carriers - calling for rescue on the M&A hotline
6 years ago
Growth-starved US phone companies are seeing consolidation as the best way to improve performance -
CLO round-up: managers find it's never too late to reset a CLO
6 years ago
CLO deleveraging? No problem, reset it into a brand new transaction -
Barclays hires top US trader as it aims to become CLO trading powerhouse
6 years ago
The US secondary CLO market is set to experience a shake up with market sources indicating that Barclays has plans on establishing itself as one of the top US CLO trading desks -
CLO investor trades out of low-coupon Ares triple As
6 years ago
A $30 million slice of the triple-A tranche of Ares XXVI was sold on Friday with market sources claiming that the stake sold above par with a cover of 100.05 -
CLO broker joins IHS Markit
6 years ago
Data provider IHS Markit has announced that it has hired a head its CLO pricing team from the sell side -
US Treasury proposals could breathe new life into CLO market-making
6 years ago
The US Treasury Department yesterday proposed a dramatic paring back of the Dodd-Frank Act, but made no mention of changing the risk retention rules in relation to CLOs -
Zais CLO equity attracts high price in secondary market
6 years ago
An investor, who had seen a Zais CLO return 100% of capital through equity distributions alone, has sold the top-performing CLO's equity notes -
Investor looks to sell entire equity tranche of unique 2014 US CLO
6 years ago
Equity holder looks to offload deal with unique triple A tranche -
Top US CLO trader earns promotion in New York
6 years ago
Well-placed sources have told Creditflux that a leading CLO trader has been promoted to managing director -
SEC charges ex-Nomura CMBS traders with fraud
6 years ago
The SEC yesterday said that two former Nomura CMBS traders, James Im and Kee Chan, misrepresented price information to clients in trades where they were acting as intermediaries -
Citi introduces tiered pricing model for CLO b-wics to boost participation
6 years ago
Market sources say that Citi – one of the largest CLO market-makers in the business – has launched a new CLO b-wic pricing initiative, which could improve liquidity in the secondary market for CLOs -
CLO round-up: spreads tighten in secondary as managers turn to refis
6 years ago
CLO spreads have been grinding tighter this year with triple-B discount margins falling from a 424 basis point rolling average to 347bp -
Boutique CLO managers boss secondary market
6 years ago
Creditflux analysis shows that, when their total assets are taken into account, small managers' CLOs are more liquid than those of large managers -
CLO round-up: CSAM prices US triple As at tightest levels since 2013
7 years ago
CLO spreads have been grinding tighter this year and last week saw Credit Suisse Asset Management achieve the tightest triple-A spread in the US market since June 2013, according to Creditflux data -
Secondary CLO round-up: investors bid up 2013 BlueMountain CLO
7 years ago
The secondary CLO market slowed down last week, but there was still plenty of mezzanine CLO paper in for the bid, according to data from CLO-i. -
CLO equity bids soar above NAV as dealers dominate b-wics
7 years ago
Two of the most active CLO dealing desks snapped up three out of four positions available on a closely watched secondary sale yesterday -
Ex-Bear credit sales specialist sets up home in Brownstone
7 years ago
New York-based broker Brownstone Investment Group has hired a senior credit sales specialist, according to well placed sources -
Mezz investor makes rapid trading gain after selling 2017 MJX CLO
7 years ago
An investor in MJX Asset Management’s recent US CLO has made a rapid trading gain after selling the deal’s double-B notes in the secondary market yesterday -
Control of 2013 US CLO changes hands amid talk of low 20s valuation
7 years ago
A $50 million b-wic featuring control of Mountain Hawk CLO II traded yesterday, according to market sources. The CLO has recovered somewhat after a rocky 2016, but price talk on the equity tranche suggested future distributions will be low -
Rare controlling equity b-wic casts light on CLO fee-sharing deals
7 years ago
CLO investors get a rare chance later today to buy a controlling equity stake in a US CLO complete with a share of the deal's management fees
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