Scope Ratings seeks distinction by incorporating Europe’s differences
Bergman sees record-pace changes in capital markets, as reforms fuel securitization growth.
By
John Hintze
Europe
Performance Trust hires bankers to lead UK structured-debt push
The investment bank, which focuses on community banks across the US, launched a new unit, PTUK Limited, last week, according to Eric Brown, president of Performance Trust's institutional group.
Europe looks to ABS to fund green consumer energy installations
Enpal issues the first European public securitization for heat pumps and solar panels.
European private credit market to catch up with U.S., Moody’s says
The region is poised for growth, given the untapped market potential and deglobalization, which will force greater autonomy from the US and drive increased spending.
Alcentra pledges $1 billion to Europe mezzanine and equity CLO investing
With that sizable fire power, Alcentra hopes to meet the growing market demand for collateralized loan obligations.
By
John Hintze
SocGen’s CLO desk restructuring bears plentiful fruit
The French bank foresees CLO growth in U.S. and Europe but cautions wariness around the current administration's potential impacts to inflation and the economy.
By
John Hintze
Janus Henderson takes CLO-tracking fund to Europe after U.S. win
The fund's managers are hoping to replicate the success of their US-focused ETF, which has amassed $17.2 billion in assets under management in less than five years.
U.S. CLO volume tops $105B YTD
The 2021 deal tally is split between $37 billion in new-issue transactions along with $68 billion in refis/resets, according to S&P Global Ratings.
By
Glen Fest
CLO activity hits record in Europe on deluge of refi deals
Just over 12 billion euros ($14.6 billion) of new issue, refi and reset paper has priced so far this year, surpassing a previous high of 7.3 billion euros in the first two months of 2018.
UK card lender NewDay preps USD tranche in new master-trust issuance
The receivables will flow from payments on UK monoline credit-card accounts for nonprime borrowers.
By
Glen Fest
The sustainable debt market has become unsustainable
The European Union's first social bond sale, totaling 17 billion euros, was 14 times oversubscribed, meaning the EU could have sold 200 billion euros worth of bonds. That indicates a market that’s structurally underserved.
Hard hit direct lenders still set to beat rivals, Stepstone says
he report concluded that the industry should fare well compared with its peers, but that loans to mid-sized European companies remained vulnerable to fall-out from Covid-19.
Hedge fund manager trips up as asset downgrades hit CLO
King Street's new CLO is the first European deal rated by Moody’s to fail to meet all the portfolio requirements at this milestone.
First European CLOs fail key test amid strain of pandemic impact
Four transactions from three managers, Alcentra, Barings and Bardin Hill, showed a breach of one or more of their so-called over-collateralization tests based on May filings.
More CLO managers take on risk retention to meet market demand
In the last two quarters of 2019, according to Fitch Ratings, more U.S. managers of collateralized loan obligations (CLOs) had been structuring some of their transactions to comply with risk-retention rules.
RBS cuts London asset-backed, CLO team on Zoom Call
Royal Bank of Scotland Group Plc is pressing ahead with its restructuring plan, trimming its securitized credit team in London even as many of its peers halt job cuts amid the chaos caused by the coronavirus outbreak.
Law firm considers challenge to Dutch CLO tax law
A leading law firm in The Netherlands is mulling an appeal against the Dutch authorities’ decision to charge VAT on the management fees of collateralized loan obligations.
Europe’s CLO printing machine enters a negative feedback loop
Collateralized loan obligations in Europe are running low on fuel, prompting some investors to seek greater protection that may slow the market even further.
Going abroad: CBAM joins in European expansion trend
CBAM Partners announced the hiring away from AXA Investment Managers an executive with significant experience in the CLO and European debt markets to assist in the launch of its European credit strategies business.
By
John Hintze
Banca Monte dei Paschi to sell $1.3B of bad loans
The Italian bank is reportedly close to completing the sale to Cerberus Capital Management, Bank of America and Illimity Bank SpA.
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