Structured Credit

American Energy-Permian Basin Downsizes Notes

The Oklahoma City-based independent oil and natural gas company American Energy–Permian Basin (AEPB) priced its high yield bond offering 200 basis points wider than talk.

CLO Manager Calls it Quits

Regiment Capital Advisors has sold management contracts for its four outstanding deals, Cavalry CLO II, Cavalry CLO III, Cavalry IV and Cavalry CLO V, with total assets of $1.6 billion, to Sankaty Advisors.

How CIFC is Getting “Skin in the Game”

CIFC, the largest U.S. CLO manager by number of deals, is raising its own capital to finance risk retention compliance.

Prospect Capital CLO Investor Joins CIFC

Robert Klein has left his role as lead portfolio manager for Prospect Capital Management’s CLO platform to oversee the structured products portfolios at CIFC Corp.

LCM Asset Management Marketing 3rd CLO of 2015

The deal complies with U.S. rules, not yet in effect, that managers keep “skin in the game” of CLOs; an affiliate of, LCM Asset Management, the collateral manager, will retain, on an ongoing basis, 5% of the fair value of the notes.

U.S. CLO Issuance Falls Again in September to $4.9B

That brought volume for the first nine months of the year to $78.6 billion, according to Thomson Reuters LPC. By comparison, at this point last year, issuance was $93.9 billion.

Seix Brings on John Wu to Build Out CLO Business

He will serve as managing director of structure capital markets for leveraged finance at the firm. He joins from CIFC Asset Management, where he was co-head of structured products.

GE Finds Buyer for Aircraft Loans, Leases

The firm will sell its corporate aircraft lease and loan portfolio to Global Jet Capital, an up-and-coming player in the space, for $2.5 billion.

Moody’s: CLO Default Performance Varies ‘Significantly’ Among Managers

The historical collateral default rates of CLOs have varied “significantly” between managers, but the explanation may not solely lie within the performance of individual deals, according to a new study published by Moody’s Investors Service.

SBA Preps $4.5B Securitization to Repay Revolver

The communications company will use the proceeds from the securitization to repay borrowings under its $1 billion junk-rated revolving credit facility.


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Oliver Wriedt


Firm: CIFC Asset Management

In the news: How CIFC is Getting “Skin in the Game”

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