CLOs

  • People news in brief

    People news in brief

    Natixis promotes DCM bankers — Powell quits IFAD job — NatWest Markets makes Peberdy, Donaldson and Manwaring's positions permanent

  • Record year for CLO refis as managers look to revamp Covid deals

    Record year for CLO refis as managers look to revamp Covid deals

    This year looks likely to set records for CLO resets and refinancings, as managers call deals priced since the coronavirus pandemic began with wide spreads and expensive capital structures. Tightening spreads have also brought some 2018 and 2019 deals into refi or repricing territory, setting up a record year with as much as $78bn in refinancing and $115bn in resets, according to estimates from Deutsche Bank. Paola Aurisicchio reports.

  • MJX opens up 2021 CLO mart with pre-Covid structure

    MJX opens up 2021 CLO mart with pre-Covid structure

    MJX Asset Management has opened up the US CLO market for the new year, with an actively managed deal with five year reinvestment period, the norm for the pre-Covid period. This paves the way for a flurry of CLOs that are expected to pop up in the coming four weeks, sources said.

  • CLO refis return as spreads tighten

    CLO refis return as spreads tighten

    Reset and refinancing activity is returning to the European CLO market, after a year of virtual absence, as spreads tightened further in the first week of 2021, especially at the bottom of the capital structure. Partners Group is in the market with a reset of Penta 5, aiming for a sub-100bp print at the top of the capital structure.

  • CLO managers take Dutch tax gamble

    CLO managers take Dutch tax gamble

    It’s been almost a year since a Dutch tax ruling sent CLO managers scurrying to Ireland to avoid a VAT charge. But with the changes coming into action in 2021, some CLO managers are leaving their vehicles in the Netherlands and taking their chances on a ruling from the supreme court.

  • Moody’s starts upgrading CLO tranches

    Moody’s starts upgrading CLO tranches

    Moody’s has started the process of upgrading CLO tranches, following an update to its methodology late last year. On Friday, the agency upgraded ratings on $311m of CLO notes across four deals.

  • Ex-Mizuho risk transfer banker lands at Munich Re

    Ex-Mizuho risk transfer banker lands at Munich Re

    Juan-Carlos Martorell, who jointly ran the risk transfer and structured solutions group at Mizuho, and before that, Lazard, has joined Munich Re Markets to work on origination, structuring and risk distribution, according to LinkedIn.

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