This session provided a foundational understanding of the asset class, covering key market participants, securitization mechanics, the CLO lifecycle and typical CLO structures and protections. Panelists included: Andrew Berlin, Vice President, Director of Policy Research, LSTA; Anusha Joly, Managing Director, Head of CLO Originations and SPG Syndicate, SMBC; Paul St. Lawrence, Partner, Morgan, Lewis &...
This session provided a foundational understanding of the asset class, covering key market participants, securitization mechanics, the CLO lifecycle and typical CLO structures and protections. Panelists included: Andrew Berlin, Vice President, Director of Policy Research, LSTA; Anusha Joly, Managing Director, Head of CLO Originations and SPG Syndicate, SMBC; Paul St. Lawrence, Partner, Morgan, Lewis &...
Leverage is a tool that can enable asset managers to increase investment capacity and improve returns without altering their investment strategy or sacrificing asset quality.
This presentation was done for IMN’s Virtual Investors’ Conference on LIBOR that took place on September 29, 2020. Presented by Meredith Coffey of LSTA, Michael Brown of Pearl Diver Capital, Melanie Gnazzo of Chapman & Cutler and Tal Reback of KKR....
A question has recently been traversing the internet: “Could CLO AAA notes suffer significant and troubling credit losses?” In reality, it would take incredible, prolonged and worldrattling levels of corporate loan defaults to actually create any credit losses in CLO AAA notes. One practitioner observed that, if we got to the level of corporate defaults...
IMN's U.S. CLOs Liquidity and Collateral Performance Update: Impact of COVID-19 Webinar that took place on Thursday, April 23, 2020. For your convenience, the full panel recording can be viewed here and you can access presentation slides here....
In light of recent market conditions, the LSTA has received a number of inquiries whether CLOs will be forced to significantly liquidate their loan positions because of rating agency downgrades or continued downward pressure on loan prices....
Broadly syndicated loans to non-investment grade U.S. Corporations are widely misunderstood outside of the loan industry. A number of commentators imply that leveraged loans are shadowy corporate equivalents to pre-crisis sub-prime mortgages. This is clearly not true and, to respond to such conflations, the LSTA recently published this white paper addressing these views....
SFIG Vegas, the major West Coast securitization conference, had a different – and much happier – tone this year. This change was detailed in a Leveraged Loans and CLO Outlook Panel moderated by LSTA EVP Meredith Coffey....
