A second tap of Confluent on September 11 took the size of the collateralised loan obligation to EUR2.6 billion, making it the largest CLO to date. But that's not the only record broken by the deal, arranged and managed by Calyon and Credit Agricole Asset Management (CAAM). It's also the first ever multi-managed CLO - CAAM is the 'gatekeeper', overseeing five leveraged loan managers - and the first to get afirst-loss transaction rating - Baa2 from Moody's Investors Service.
As such it's been
The week on Risk.net, July 7-13, 2018Receive this by email