The Eldridge BBB-B CLO ETF offers attractive monthly income but faces declining distributions as SOFR rates fall. Click here to read my latest analysis of CLOZ.

THE AAA MELTDOWN....At the heart of the subprime mortgage fiasco is a financial instrument called a Collateralized Debt Obligation, or CDO. A CDO is a collection of bonds that's divided into tranches ...

Palmer Square Capital Management priced a €416.2m reset for its Palmer Square European CLO 2024-1, which was originally ...

“There are essentially two basic types of tiering in the European CLO market,” said Rob Reynolds, head of CLOs at Pemberton ...

CLOs outperform IG bonds, HY bonds, and the aggregate US market due to diversification, protection against volatility, higher credit spreads, and lower risk. CLOs' floating rate coupons and ...

The information vacuum on collateralised debt obligations (CDOs) has begun to suck in some data. The commentaries of the past week have mostly denied our assertion that banks are holding the “toxic ...

) -- OK, if you are still with me, thank you. I want to add a little more complexity and talk about the growth of "mezzanine" and "resecuritization." You may recall our discussion about the basic ...

Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Here’s a structured finance blast from the past; some trouble in mezzanine tranches of ABS CDOs. Last week the ...

Investors are not being properly compensated for the risk of buying equity andjunior mezzanine tranches, according to Deutsche Bank’s quantitative creditstrategy group. The chart above, known as the ...

In the first quarter 2007 deals such as KION, PagesJaunes, TdF and Numericable saw senior debt and second-lien replacing mezzanine in post-syndication flexes. Afterwards, primary deals emerged ...

Last week saw the launch of the US$970m (€662m) debt package supporting Dubai International Capital‘s acquisition of Almatis and the €900m facility backing Oakhill’s acquisition of Firth Rixson. In ...

THE AAA MELTDOWN….At the heart of the subprime mortgage debacle is a financial instrument called a Collateralized Debt Obligation, or CDO. A CDO is a collection of bonds that’s divided into tranches ...