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Why the Potential for Consolidation Among CLO Managers May Be Overhyped

Oliver Wriedt of CIFC Asset Management thinks the potential for consolidation among CLO managers may be overstated, despite the impact of risk retention. Low management fees and high financing costs make acquisitions less attractive than they have been in the past.


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Latest News

MGM Resorts Upsizes to $1.25B in HY

– The offering of senior unsecured notes due 2023, originally sized at $1 billion, was assigned a coupon of 6% and priced at par

Cognizant Details $1.75B in Acquisition Loan Commitments

– IT and business process services consultant Cognizant Technologies on Thursday completed a $2.7 billion acquisition of healthcare software firm TriZetto Corp., for which it has obtained $1.75 billion in loan commitments from a consortium of banks led by JPMorgan.

Investors Pull Money from Loans Funds for 19th Straight Week

– According to Lipper, investors withdrew $373.7 million from loan funds in the week ended Nov. 19, down slightly from $397.8 million the previous week; it was the lowest amount of weekly withdrawals in more than two months.

CAA Launches $610M Loans Offer

– Creative Artists Agency (CAA) is pursuing a $610 million first-loan loan proposal to raise proceeds for the majority-stake takeover of the talent agency by TPG Capital that was announced in October.

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