Investments

They join Blackstone/GSO, PGIM, Credit Suisse, Guggenheim Securities and the Carlyle Group in reopening a new-issue market that was dormant in December.

At least 25 business development companies have obtained board approval to increase leverage in line with a new regulatory limit, but most are subject to a one-year cooling-off period, according to DBRS.

At least 50% of the U.S. dollar-denominated fund's investments will be in triple-B tranches of U.S. and European CLOs.

Risk retention rules that Japan's Financial Services Agency has proposed for securitizations may not apply to U.S. collateralized loan obligations after all, according to the LSTA.

Guggenheim, Carlyle Group, Credit Suisse and Blackstone have launched four deals totaling €1.74 billion, all with AAA spreads of at least 100 basis points over Euribor.

The only change to the deal is a slightly smaller prefunding amount; one loan that had been expected to be acquired after settlement has already been closed.

Cadogan Square CLO XIII DAC will be Credit Suisse Asset Management's fourth euro-denominated CLO issued in the past 12 months.

That's significantly wider than 121 basis points average for new CLOs backed by broadly syndicated loans that were issued in December.

GoldenTree's $757 million CLO is the first deal seeking to price in the 2019 primary market, while Octagon Credit Investors is refinancing a $791.5M, 2014-vintage CLO (for a second time).

It may not signal a recession, but structured finance pros are still preparing for a more risk-off environment.