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U.S. collateralized loan issuance showed encouraging signs of revving up last week as seven U.S. deals hit the market, bringing the final April tally of transactions to 16.
May 2 -
For the first time since the financial crisis, some collateralized loan obligations are being forced to divert funds normally used to pay junior noteholders to be used for the benefit of more senior noteholders.
April 27
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Onex Credit Partners is launching its first CLO of 2016, and 11th overall, following up a 2015 when the private equity group issued three collateralized loan obligations of mostly similar sizes.
April 18 -
Invesco Senior Secured Management has priced a new $406.25 million CLO with a high ratio of first-lien secured loans already identified for the portfolio.
April 14 -
Credit managers are less pessimistic about widening spreads over the next three months, but are growing more worried about a worsening global corporate default trend, according to the latest quarterly IACPM survey.
April 13 -
The long-time slump in oil prices is negatively affecting a narrow band of CLOs and asset-backed securities invested in energy industry assets. But the lower fuel costs are bringing improved consumer payment performance on mortgages and car loans, according to Moodys.
April 12 - Europe
Carlyle Global Market Strategies Euro CLO 2016-1 was launched with target par of 400 million (US$457.1 million). Credit Suisse Asset Management is also looking to issue 400 million in notes through Cadogan Square CLO VII B.V.
April 12 -
Napier Park Global Capital it preparing to price its first CLO in nearly 18 months through its Regatta platform in a $411 million transaction arranged through Morgan Stanley.
April 8 -
Topped by a $355.6 million, triple-A rated Class A notes tranche, the Hertz Fleet Lease Funding (HFLF) LP Series 2016-1 carries similar structures to the previous issue in the 2015-1 version, with the exception of the inclusion of a split floating-/fixed-rate split of Class A notes.
April 8 - Europe
N.M. Rothschild and Sons Five Arrows Managers LLP has extended the closing date to April 26 for the 307M Contego III trust deal out of The Netherlands.
April 7
