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After early crescendo CLOs end on flat note
6 years ago
Huge issuance and the end of risk retention ensured the US CLO industry was buoyant in early 2018, but later in the year the term curve flattened, pricing levels became sporadic and volumes dwindled -
Widening whisks market back to 2017
6 years ago
Right now, CLO volumes are healthy and the list of active managers is steadily growing. But with CLO liability spreads reverting to where they were a year ago, some issuers are a little nervous. -
Time to reprice? Then compare the market
6 years ago
CLOs no longer fizzle out. Instead, they go through multiple repricings, where, with stakes lower and deadlines tighter than when they were issued, their managers can try alternative arrangers -
Issuers excited by busy first quarter
7 years ago
After 13 months of compulsory risk retention for US CLOs, it seems that the simplified regulatory regime is already encouraging a host of CLOs from returnees and new entrants to the market
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Libor rise gives timely boost to US loan yields
7 years ago
Competition for US loans among CLOs, ETFs and mutual funds is keeping margins in check. However, the 60bp increase in Libor in Q1 means there’s still reason to pile into the loan market -
Who predicted $145 billion of issuance?
7 years ago
That went better than expected: US risk retention came in, and $145 billion of global new issuance later, it’s clear that CLOs aren’t disappearing. By Tanvi Gupta and Sam Robinson -
CLO managers return to new issues
7 years ago
The frenetic pace of refis and resets slowed in the third quarter as CLO managers – new and old – turned their attention to building assets -
CLO boom encourages new ideas
7 years ago
Volumes are up, spreads are down and risk retention is a doddle. That must mean it’s time to push the boat out and innovate -
Spotlight: Local exchange carriers - calling for rescue on the M&A hotline
7 years ago
Growth-starved US phone companies are seeing consolidation as the best way to improve performance -
Refinancing and reset options change the face of CLOs
8 years ago
The CLO market is going into overdrive, with refis, resets and new issue deals combining to give investors an unprecedented choice of maturities. -
Who cares about risk retention?
8 years ago
Managers watching CLO spreads reach their tightest levels since the crisis had little time to fret about US risk retention
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