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Friday, 17 August 2018

CLOs

Santander sells Spanish SME SRT note

IFR 2245 4 August to 10 August 2018

Banco Santander has priced the second synthetic securitisation of Spanish SMEs off its Magdalena series. Pricing for the unrated credit linked note was 155bp inside the first deal from May 2017.

New-issue CLOs from CSAM and BNPP AM

IFR 2245 4 August to 10 August 2018

Credit Suisse Asset Management sold a large €508.5m CLO off its Cadogan Square platform last week and found fairly taut pricing despite the general market weakness.

Anchorage brings CBOs back to Europe

IFR 2245 4 August to 10 August 2018

Anchorage Capital Group has priced the first collateralised bond obligation (CBO) seen in Europe since the financial crisis, backed by a mix of bonds and loans.

KKR resets Avoca CLO XVI

IFR 2243 21 July to 27 July 2018

KKR Credit Advisors priced a €468.6m reset of Avoca CLO XVI on Friday. Deutsche Bank was arranger and lead manager. Levels include 84.5bp over Euribor at the Triple A, the Double Bs at a discount margin of 575bp and the Single Bs at 790bp.

European CLO new issue spreads continue to widen

IFR 2243 21 July to 27 July 2018

One CLO new issue last week broke into the 90s for its Triple As, while Double B prices edged closer to the 600bp mark.