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Issuers offer bespoke CLO terms to wealthy investors
3 years ago
An expanding group of well-capitalised investors is leading CLO issuers to tweak deal structures to offer tailored investments -
Loan technical and supply glut keeps CLOs in check
3 years ago
CLO asset and liability spreads moved wider in March owing to unprec-edented volumes of issuance, despite investors rotating into floating-rate products amid rising treasury rates -
Sound Point hits tights with first new CLO of 2021
3 years ago
Sound Point Capital Management has turned its attention away from the CLO refinancing market to print its first new issue of 2021 -
CLO torrent adds $1.5 billion in US refis
3 years ago
The CLO refinancing boom has added another $1.5 billion to deal volume, with Intermediate Capital Group, Octagon Credit Investors, Sound Point Capital Management and Vibrant Capital Partners adding their names to the list of CLO refinanciers -
CLO pipeline: Carlyle eyes fourth new issue in two months but refis and resets dominate
3 years ago
Manager focus has shifted to reworking vintage CLOs to lower funding costs in a much tighter market, with the new issue US market having slowed -
Sound Point docks 24bp from 2017 US CLO triple As
3 years ago
Sound Point has shaved 24 basis points off the triple A notes of its 2017 CLO named Sound Point CLO XVII with a refinancing -
Sound Point breaks through Europe's five-year reinvestment barrier to set CLO benchmark
3 years ago
European CLO triple As have reached new tights with Sound Point Capital Management pricing triple As at 77 basis points over Euribor -
JP Morgan shaves costs on over $1 billion of CLO refis for Sound Point and MJX
3 years ago
JP Morgan printed over $1 billion CLO refinancings this week by arranging cost-saving transactions for Sound Point Capital Management and MJX Asset Management -
The Last Tranche with Sound Point's Ketchum: CLOs have fortress-like structures
3 years ago
Creditflux's Hugh Minch and Sound Point's Stephen Ketchum discuss the macro picture for US credit and who should be on the lookout for inflation -
JP Morgan prices CLO refis for Fidelity and Sound Point
3 years ago
JP Morgan has priced CLO refinancing deals for Fidelity Investments and Sound Point Capital Management. The two deals total $872 million in volume -
January US CLO refi volume overtakes 2020 post-covid volume
3 years ago
Two CLO managers - Voya Financial and Sound Point Capital Management - priced CLO refinancings on Friday worth a total of $621.9 million, bringing total refi volume for January up to $5.56 billion -
Jefferies picks up three big mandates to get European CLO plans rolling
3 years ago
Jefferies has taken huge strides towards building out its European CLO arranging business with sources indicating the bank has won mandates from three managers -
Refis, resets and reissues back in vogue as four US CLO managers print deals
3 years ago
Various shades of CLO refinancings dominate the US CLO primary market with four deals - two refis, a reset and a reissue - printing on Wednesday for a total volume of $1.1 billion. This surpassed all US CLO refinancings in the six months from March to September last year -
Sound Point completes two CLO transactions in a day
3 years ago
Sound Point Capital Management has completed two US CLO primary market transactions in the space of a single day, teaming with Barclays to print its latest new issue offering and later with Goldman Sachs to refinance the triple A notes of a CLO post-reinvestment period -
European CLOs rise in secondary with Sound Point deal up 4.25 cents from issuance
3 years ago
Double-B rated CLO tranches received bids in the high 90s on Wednesday with Sound Point Capital Management’s debut European CLO attracting the highest cover of 98.25 cents on the euro. But the CLO rally is lagging moves in corporate credit -
Sound Point grows reinvestment period with second European CLO of 2020
3 years ago
Citi has teamed up with Sound Point Capital Management to price a €340.2 million deal named Sound Point European CLO IV -
OC health check: CLOs wake up when September ends
3 years ago
September showed a slight but clear improvement in CLOs’ over-collateralisation test results as 182 CLOs breached an OC test during the reporting period, compared to 198 in August. -
CLO pipeline: fixed income giants plan debut 2.0s with Morgan Stanley
3 years ago
Two large fixed income managers are pre-marketing debut 2.0 CLOs -
Global CLO b-wic round-up: CLO mezz tranches widen amid macro concerns
3 years ago
Last week was busy for the primary European CLO market but not for secondary, with €1.35 billion of new issue European CLOs priced across four transactions but just €190 million of European CLO paper listed in b-wics -
CLO pipeline: three behemoths prepare for quick-turnaround new issues
3 years ago
CLO managers have printed at a frenetic pace since the start of the quarter with $3.36 billion of issuance across all CLO markets and pricing types -
Two managers team up with Goldman to refinance 2017 CLO tranches
3 years ago
Two CLO managers - Sound Point Capital Management and Sculptor Capital Management - yesterday teamed up with Goldman Sachs to refinance fixed-note CLO tranches from 2017 vintage CLOs. Both managers' fixed coupon fell by 137 basis points in the process -
Manager tiering inceases as Sound Point prices fifth largest CLO post-covid
3 years ago
Sound Point Capital Management has priced the fifth largest CLO amid the coronavirus pandemic known as Sound Point CLO XXVII at a deal size of $503.2 million -
CLO pipeline: managers large, small and new ready to price in post-Labour Day surge
3 years ago
US managers are preparing a wave of new issue CLOs in the coming days, as the usual post-Labour Day pricing surge comes to fruition even in this most unusual of years -
Covid-19 pandemic draws CLO repricing from out of shadows
3 years ago
A rare CLO repricing took place last month, despite the option being written into CLO documentation for years -
Sound Point goes refi route for fixed notes of 2018 CLO
3 years ago
Sound Point Capital management is the latest CLO manager to refinance the fixed rate debt in one of its CLOs after working with Goldman Sachs to slash funding costs on Sound Point CLO XIX
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