Why CLO managers are agreeing to extend and amend
“There is no downside” to extending maturities, say CLO manager and investors
Risky borrowers are increasingly asking creditors to push back debt maturities on leveraged loans. And the market’s largest buyers of those loans – managers of collateralised loan obligations (CLOs) – are proving happy to oblige.
So-called amend and extend (A&E) agreements, in which lenders agree to push back a loan’s maturity by anywhere from two to five years in return for a higher yield and
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe
You are currently unable to print this content. Please contact info@risk.net to find out more.
You are currently unable to copy this content. Please contact info@risk.net to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@risk.net
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@risk.net
More on Investing
The SaaSpocalypse shows private markets need risk models
Investors have little idea how bad the losses in private credit are going to be
SocGen is getting into the systematic equity dispersion game
New single-stock options index is first step to plugging a gap in the bank’s QIS business
UK insurers weigh alternatives to funded reinsurance
Tougher-than-expected PRA capital proposals push insurers to explore new sources of yield
The race to model private market risks
BlackRock maps holdings to risk factors; competitors aim to get the best from statistical methods
Dollar smiles again, but for how long?
Twitchy investors backed the buck during Iran war, but experts are divided on whether this marks a return of the dollar smile
Vol control indexes rewire for V-shaped rebounds
Dealers aim to fix sluggish performance of indexes that underpin $130 billion-a-year FIA market
Markets perceive the future in very distorted ways
Discounting paradigms should adapt to be more realistic, says Jean-Philippe Bouchaud
Prediction markets can be a canary in the coal mine
Prices of contracts on the likes of Polymarket can act as signals for risk management and hedging, says risk expert
