Dealer Looks To Add Extra Juice To Refinanced CLOs

At least one arranging bank of collateralized loan obligations is looking to add leverage to deals ripe for refinancing by selling an extra tranche and using the proceeds to juice up equity returns. Deutsche Bank is digging into documents to see if language would permit them to issue a tranche witho...

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Bibliographic Details
Published inTotal Securitization
Main Author Bippart, Graham
Format Trade Publication Article
LanguageEnglish
Published New York Euromoney Institutional Investor PLC 03.02.2014
Subjects
Collateral
Collateralized loan obligations
Equity
Leverage
Refinancing
Securitization
Germany
Online AccessGet full text
ISSN1938-7504

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Abstract At least one arranging bank of collateralized loan obligations is looking to add leverage to deals ripe for refinancing by selling an extra tranche and using the proceeds to juice up equity returns. Deutsche Bank is digging into documents to see if language would permit them to issue a tranche without having to buy new assets to collateralize it. Dealers would look to get these tranches rated single-B, or go without ratings at all. An official at the bank declined to comment.
AbstractList At least one arranging bank of collateralized loan obligations is looking to add leverage to deals ripe for refinancing by selling an extra tranche and using the proceeds to juice up equity returns. Deutsche Bank is digging into documents to see if language would permit them to issue a tranche without having to buy new assets to collateralize it. Dealers would look to get these tranches rated single-B, or go without ratings at all. An official at the bank declined to comment.
Author Bippart, Graham
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Snippet At least one arranging bank of collateralized loan obligations is looking to add leverage to deals ripe for refinancing by selling an extra tranche and using...
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SubjectTerms Collateral
Collateralized loan obligations
Equity
Leverage
Refinancing
Securitization
Title Dealer Looks To Add Extra Juice To Refinanced CLOs
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