GSO displaced Credit Suisse Asset Management, which had 27 deals but was still leading the manager tables in terms of overall volume ($16.2 billion).
Race Point VIII CLO, a 2013 vintage transaction, is the first of dozens of refinanced collateralized debt obligation transactions since Jan. 1 that is not being structured to meet the strict refi criteria of a so-called Crescent deal.
U.S. collateralized loan obligations purchased $35.42 billion of assets in the quarter, and sold $21.18 billion. The total trading volume of $56.6 billion in the quarter was up 7% growth from the $52.9 billion level in the third quarter.
New issuance of collateralized loan obligation topped $3.2 billion in the first 10 days of February, and there are at least nine more deals in the pipeline, according to the Loan Syndications and Trading Association.
CVC Cordatus Loan Fund VIII DAC has some notable features, including a linkage between the proportion of cov--lite loans and the proportion of senior secured loans and a liquidity facility with the Bank of New York Mellon.
Treasurer, Head of Asset Management
Firm: NewStar Financial
It's unclear how the new political environment will affect the platform's viability or how investors will view the securities issued on it. The next year could determine the project's success and role reshaping the secondary mortgage market.Current Issue