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Thursday, 30 March 2017

Self-syndication a bridge too far

IFR 2175 18 March to 24 March 2017

Red-hot demand for CLO debt has triggered talk that disintermediation could become a trend in structured credit, although few believe full-blown self-syndication by CLO managers is on the horizon any time soon.

Rare post-crisis CLO reset hits record lows

IFR 2175 18 March to 24 March 2017

CLO resets are elbowing their way into the European market, having become a prominent feature in the US. On Tuesday, KKR Credit Advisors priced a rare reset of the Avoca XII CLO, tightening from previous record lows.

Snowstorm in New York

US credit markets hunker down for East Coast snow day

14 March 2017 16:16

The US credit markets shut down on Tuesday as bankers and investors across the northern East Coast hunkered down for a snowstorm.

Chenavari clears Toro 3

IFR 2173 4 March to 10 March 2017

Chenavari priced its third post-crisis European CLO on Friday, the €365.35m Toro European CLO 3 trade.

CLO market should see healthy 2017

IFR 2173 4 March to 10 March 2017

The big takeaway on the CLO market from ABS Vegas is that new issuance should remain fairly healthy in 2017, even though loan repricings are making arbitrage difficult.

CLOs take on 2016 supply challenge

IFR 2172 25 February to 3 March 2017

Despite concerns over the availability of leveraged loans and managers’ focus on refinancing deals, European CLO supply so far this year has outpaced the start to 2016, according to Thomson Reuters LPC data.