Topic
CLOs, Structured Finance
Showing 141 to 150 of 169 results using the term “CLOs, Structured Finance”
Partners Group Adjusts Approach to Risk Retention in First New Euro CLO Following ESA Rules Surprise
Reporting: Victoria Thiele Partners Group has adjusted its approach to risk retention in a European CLO that priced today in order to comply with a new interpretation of securitization rules, according to market sources. The €409 million deal, which is named Penta 19 and was...
Published on Apr 2, 2025
European Regulators Question Validity of Third-Party CLO Equity Vehicles
Reporting: Chris Dammers, Victoria Thiele Relevant Document: Joint Committee Report The Joint Committee of the European Supervisory Authorities, or ESAs, has taken aim at third-party CLO equity vehicles in a report on potential reforms to the European Union’s Securitization Regulation,...
Published on Apr 1, 2025
Data-Driven Fundamentals: The Path to Investment Enlightenment
Challenge: Managing Information Overload For leveraged loan investors, speed and accuracy in financial data analysis can mean the difference between winning and missing a deal. Yet, gathering and synthesizing financial data is a time-consuming process. Analysts often spend hours copying and pasting...
Published on Apr 2, 2025
Monoline Wraps Influencing CLO Double-B Spread Movements, Sources Say
Reporting: Victoria Thiele A so-called wrapper on European CLO double-B tranches was a “catalyst” for the tightening spreads at the start of the year, a syndicate banker told Octus, formerly Reorg. This mechanism allows investors to carry mezzanine CLO tranches at an investment-grade rating....
Published on Mar 21, 2025
US Life Insurers Face Modest Benefits From NAIC’s Risk Based Capital for CLOs – Moody’s
Most U.S. life insurers with CLO holdings of at least $1 billion would see their risk-based capital charges fall under the preliminary loss scenario probability distribution published in December by the National Association of Insurance Commissioners, or NAIC, according to Moody’s Investors...
Published on Mar 20, 2025
European CLO Managers Hold On to Downgraded Colisee Group Loan
Reporting: Victoria Thiele, Jihye Hwang Several European CLO managers said that they are holding on to their positions in Colisee Group after S&P Global Ratings downgraded the credit to CCC-. The price of the loans plunged following the company’s request to defer interest payments. More than...
Published on Mar 19, 2025
European Commission Backs Simplification of Securitization Rules, Changes to Bank, Insurer Capital in Savings and Investment Union Plan
Relevant Document: European Commission Release The European Commission today revealed plans for a Savings and Investment Union today, with reform of the rules governing investments in securitization among the near-term actions to help channel a hoped for €350 billion of household savings a year...
Published on Mar 19, 2025
HSBC Arranges Warehouse Facility for PGIM Euro CLO
Reporting: Victoria Thiele HSBC has opened a warehouse facility with PGIM for what could be the bank’s first arranging role on a European new issue CLO in more than 10 years, according to sources. In 2023, HSBC made a push into the CLO arranging business with the hire of former Deutsche Bank...
Published on Mar 14, 2025
Apollo-Backed Novolex to Launch $3B Term Loan, $1.6B Bridge Loan for $6.7B Acquisition of Pactiv Evergreen
Reporting: Katherine Schwartz, Michael Haley, Geoff Burrows Apollo-backed food packaging manufacturer Novolex will launch a $4.6 billion debt financing package in the coming months to back its $6.7 billion acquisition of Pactiv Evergreen, according to sources. Novolex’s debt financing...
Published on Feb 27, 2025
The Fundamentals of Efficiency
The Challenge A top 20 CLO Manager faced a recurring and time-consuming bottleneck: manually extracting financial data from overwhelming volumes of quarterly filings. Each analyst was responsible for dozens of issuers, inputting figures from financial statements into models by hand. This approach...
Published on Feb 21, 2025