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When the transaction closes on July 23 it will be renamed Fortress Credit VSL VI; additional collateral, nearly half (48%) of the total, in fact, will come from another CLO, Fortress VI.
July 17 -
The €414.2 million CVC Cordatus Loan Fund XI will issue exchangeable shares for four classes of notes; this allows the fund to hold bonds without putting itself off-limits to U.S. banks.
July 12 -
Most managers are looking to add three to five years of investable life through CLO resets and refis, but Apollo is sticking with a four-year reinvestment window in a refinancing of its 2016 ALM XVII portfolio.
July 6 -
Annisa CLO was originally issued in August 2016, just before risk retention regulation took effect, but was the firm's first deal to be dually compliant with both U.S. rules (which no longer apply to CLOs) and European rules.
July 3 -
GoldenTree Loan Opportunties XII was one of nine CLOs that were reset or refinanced on Friday alone, as managers rushed to lower payment prior to July quarterly payments to investors; the tally for June as a whole is $30.9 billion.
July 2 -
The deal, which is expected to close this summer, would bring THL Credit’s assets in collateralized loan obligations under management to approximately $12 billion and its total assets under management to over $15.5 billion.
June 27 -
HPS Loan Management 9-2016 will be backed by a $750 million portfolio of broadly syndicated loans and other assets, up from $500 million originally; Moody's is only rating the two senior tranches of notes to be issued.
June 26 -
That level is wide of the six new-issue CLOs that priced last week at triple-A spreads of 110 basis spoints; CLO senior notes have widened 10 basis points, on average, over the past three months.
June 22 -
It's another example of what appears to be tailoring tranches to meet the tenor and yield requirements of specific investors; the deal, GMS Euro CLO 2014-1, was also upsized to €508 million from €368.3 million originally.
June 20 -
The original $312 million triple-A notes are being replaced with six separately priced Class A note tranches, including two fixed-rate securities classes
June 18