CLOs

The deal has a $40 million subordinated portion that compares to the $497 million Dryden 108 CLO Ltd., which has a much larger ‘AAA’-rated class A-1 portion.

Natixis’s co-head of structured credit and credit trading has left the bank to join New York-based private equity shop Blue Owl Capital, as the firm seeks to step up its efforts in the collateralized loan obligation market.

Mizuho Securities’ head structurer of collateralized loan obligations has joined New York-based private equity firm Blue Owl Capital as it makes a push into the broadly syndicated CLO industry. 

Citigroup and Bank of America have teamed up with five other banks to form Octaura Holdings, an electronic trading platform for syndicated loans and collateralized loan obligations.

The Neuberger Berman pool has an average credit quality of ‘B’ on the indicative portfolio, which indicates a highly speculative credit quality.

On average, CLOs had a default exposure of 0.1% at the end of May, according to the latest update from Fitch Ratings.

Over the next three decades it will cost about $100 trillion to meet net-zero emissions goals, not to mention the funds needed to address other environmental and social problems.

A return by the Japanese bank, even on a smaller scale than previously, would inject fresh demand into a European market where CLO costs have spiked to the highest in two years.

The drop in CLO issuance from Q1 volume raised no alarms, coming off last year’s record $187 million issuance, and experts see strong production for 2022.

The past few weeks have seen no fewer than five acquisitions of U.S. alternative credit shops that specialize in CLOs or bundles of the securitized vehicles.