S&P Sees €1.4B of European CLO Issuance in Q3
European CLO issuance this year has already exceeded the majority of observers' expectations, the agency said.
CDOs
LSTA: Risk Retention Rules to Shrink CLO Market
The U.S. market for collateralized loan obligations would shrink by 75% if proposed risk-retention rules are implemented, according to the Loan Syndication and Trading Association.
People on the Move
DFG Taps Goldman Vet, Barclays Bulks Up on CMBS, Ares Adds Jeffrey Kramer and the ASF Retains Mike Williams as Policy Adviser
CLO Managers Grapple with S&P Recovery Test
A shift in the leveraged loan market has intensified grumbling among CLO managers about the way Standard & Poor’s rates the senior tranches of these deals.
CLO Managers Grapple with S&P Recovery Test
A shift in the leveraged loan market has intensified grumbling among CLO managers about the way Standard & Poor’s rates the senior tranches of these deals.
Another CLO for Ares Management
Ares Management is prepping its latest collateralized loan obligations, the $412.80 million Ares XXVII CLO, which brings the total amount of broadly syndicated collateralized loan obligations Ares manages to roughly $14.11 billion.
Golub Plans $503M Middle Market CLO
The $275 million class of senior notes is being marketed at three-month Libor plus 165 basis points.
TELOS Preps Fourth CLO of the Year
The $365.25 million collateralized loan obligation is actively-managed and backed by a revolving pool consisting primarily of broadly syndicated senior secured loans.
Oak Hill Offers $200M CLO Via Greensledge
Oak Hill Offers $200M CLO, OHA Loan Funding 2013-2, with a $116 million senior tranche that priced at 127 basis points over three-month Libor
Ares Management Plans €300M CLO
Ares Management is marketing a €300 million collateralized loan obligation, according to a presale report published by Moody’s Investors Service.
DFG Taps Goldman Vet to Head Board
Philip Darivoff will serve as chairman of the board of DFG and its parent company, Vibrant Capital Partners.
Intermediate Capital Group Prices €400M CLO
Intermediate Capital Group priced a €400 million cash flow collateralized loan obligation, its third since the financial crisis.
S&P: Medium-Term CLO Pipeline Steady at $16.5B
U.S. issuers have engaged Standard & Poor’s to rate 35 collateralized loan obligations totaling $16.5 billion as of July 3, flat to the previous week.
Wells Fargo: CLO Spreads Have Stabilized
Spreads on collateralized loan obligations appear to have stabilized in the secondary market after widening in June, according to Wells Fargo.
BofA Merrill Cuts SF ’13 Issue Forecast for Europe
the analysts at Bank of America Merrill Lynch have revised down their structured-finance issuance forecast in Europe for 2013
S&P: No Credit Worries From Steeper Spreads
The widening in structured finance spreads is not yet a cause for credit concerns, according to a weekly outlook by Standard & Poor’s.
Ares Preps $500M CLO
Ares Management is prepping a $500 million collateralized loan obligation, according to a presale report by Moody’s Investors Service.
Goldentree Tweaks Its First European CLO
GoldenTree Asset Management appears to have added a €59 million subordinated class to a European collateralized loan obligation it is marketing.
Horizon Tech Finance Securitizes Secured Loans
Horizon Technology Finance Corp., a specialty finance company, has issued $90 million of notes backed by secured loans to technology and healthcare start-ups.
Buying Time
Delayed draw features, which allow CLO managers to avoid paying noteholders until deals are invested, have gained momentum.
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