A whopping 15 U.S. CLO deals priced in the first week of December, pushing issuance levels above 2015 activity as managers push to complete collateralized loan transactions before the onset of risk-retention requirements.
While requiring managers to hold 5% of the risk in their deals may be overkill, John Thacker of Crestline Denali Capital, sees merit in aligning the firm's interest with those of its clients.
The transaction, ELM 201601, is backed by 35 loans; the majority, 85.3% are to life sciences companies; the remaining 14.7% are to real estate companies, according to Kroll Bond Rating Agency,
Much like President-elect Donald Trump himself, expected Treasury Secretary-designate Steven Mnuchin represents something of a question mark for the financial services industry when it comes to his agenda
Deals from MJX, Voya, Arrowpoint and Palmer Square pushed November volume to $13.1 billion via 29 transactions (including refinancings and resets) according to JPMorgan. Credit Suisse priced the lone European deal.
Treasurer, Head of Asset Management
Firm: NewStar Financial
The wireless carrier, though only rated single-B, has more leeway from existing investors to enter into a transaction like this than even some investment-grade companies, according to Covenant Review.Current Issue