Middle market

Johnson will be based in New York and joins a business development team focused on originating for Sagard's private credit business.

Bespoke securitizations have been gaining in popularity as private fund managers look for ways to raise cash amid a slump in dealmaking and fundraising.

The French bank foresees CLO growth in U.S. and Europe but cautions wariness around the current administration's potential impacts to inflation and the economy.

The $1 billion deal included classes A-L-A and A-L-B were offered as loans.

Overall CLO growth indicates the asset going mainstream in Europe

The trust will repay notes through a $160.7 million, floating-rate class benchmarked to the three-month Secured Overnight Financing Rate (SOFR), and a $25.1 million of fixed-rate, class B.

Despite perceptions that smaller companies are riskier, they pose less risk to investors. Realized loss rates are lower, and they deliver higher returns.

While the indicative portfolio has an average credit quality of ‘B’ or ‘B-,’ Fitch also points out that the class A-1 notes have a 43.0% credit enhancement level.

After a colossally “brutal” period in the beginning of the COVID-19 outbreak last year, a recent report from Kroll Bond Rating Agency noted that business development corporations mostly rebounded by year-end 2020 to bring a sense of renewed optimism into the alternative-lending space.

Outstanding middle-market U.S. collateralized loan obligations in the first quarter had a significantly reduced concentration of near-default loans being held in portfolios compared to year-end 2020