CDOs/CLOs

CVC Cordatus Loan Fund IX is CVC's ninth overall Euro-denominated CLO, and only the second that will price since early June, according to Thomson Reuters LPC.

Race Point IX CLO, a 2015 vintage deal, follows four other refinancings that Bain has completed for its Race Point, Avery Point and former Cavalry issuance platforms; Bain has also refinanced a Euro CLO.

The family-owned real estate group affiliate has committed a significant amount of capital to growing the finance and investment side of the organization, which includes balance sheet lending.

The pricing of BlueMountain Fuji's second-ever transaction pushed the monthly new issuance total to $10.1 billion - only the third time since last November the market has eclipsed the $10 billion barrier.

It’s not clear whether syndicated credit agreements require 100% investor consent before adopting a new benchmark. The industry trade group suggests giving new loans the flexibility to change indexes without unanimous approval, but investor advocates are balking.

The $533.1 million collateralized loan obligation portfolio has an unusual capital structure; just two senior tranches will be issued, along with a single subordinated tranche comprising more than one-third of the notional value.

The three new deals totaling $1 billion that priced in August, bringing issuance for the year-to-date to $8.3 billion., That matches 2016's full-year total.

Although challenges have accelerated for certain segments of the U.S. retail industry, the exposure to troubled retail in U.S. structured finance sectors is limited, posing small-to-modest risks for some asset classes.

In Europe, €1.6 billion of new collateralized loan obligations priced during the month July, taking issuance volume for the year to date to €10 billion across 25 deals. That's in line with the €9.7 billion issued during same period last year.

Tennenbaum is offering up its third middle-market CLO as market conditions ripen for SME loan portfolios