News - KopenTech

Katayama Credit in US market for debut CLO

September 19, 2023

Rob Shrekgast in his interview with GlobalCapital highlights the evolving dynamics in the CLO market, with tier one managers achieving mid-160bp spreads on triple-A notes, while debut managers, paying at around 205bp-210bp. Despite the tightening spreads seen in the capital stack throughout the year, Shrekgast cautioned that further tightening might be harder to achieve.

Creaky credit sparks ‘high’ dispersion in CLO pricing

August 02, 2023

Article by Nathan Tipping on Risk.net discusses the resurgence of dispersion in credit markets following 18 months of central bank rate hikes. This trend is particularly noticeable in collateralized loan obligations (CLOs), where pricing has become fragmented, as evident from data provided by KopenTech. The dispersion is attributed to various factors, including differing manager reputations, changing loan market dynamics, and variations in market value of over-collateralization (MVOC) profiles.

US CLO market in good health despite spluttering primary

July 20, 2023

Great article by Tom Lemmon in GlobalCapital on how the US CLO market is fundamentally in good health, featuring KopenTech's Rob Shrekgast. According to Rob, despite a slow start in new issuances in the US CLO market during the first half of the year, the market remains healthy. Successful BWIC volumes, an indicator of market health, have remained steady around $2 billion each month, suggesting market participants are calm and sellers are comfortable with market conditions.

U.K. Crisis Spills Into U.S. Junk Debt

October 11, 2022

Matt Wirz from The Wall Street Journal has a great story where he highlights how European investors are selling CLOs to meet margin calls due to the currency and government bond crisis in UK financial markets. The US financial institutions and banks have been buyers of these securities at lower prices. Investors can view the upcoming CLO trading pipeline and dealer inventory on our KTX trading platform. Read the full WSJ story here.

Innovation station: problem-solving esoteric ABS stands up in choppy market

September 30, 2022

Jill Scalisi spoke to Oliver West from GlobalCapital about KopenTech and innovations it introduced for the CLO market. We have become the first firm to begin CLO trading on its electronic platform and automated the entire trading process. Read more.

Rival platforms battle to control electronic trading of CLOs

August 02, 2022

The need for new ways to trade CLO is here. New electronic platforms are designed to bring CLO trading out of the age of dinosaurs. Kopentech also gives investors the option to trade with each other, cutting out the banks. Separately, the platform can refinance CLOs using the AMR process.

CLO Trading Startup Is Now Allowing Investors to Cut Out Banks

June 23, 2022

An online platform is now allowing money managers to trade collateralized loan obligations directly with one another, without banks standing in between. KopenTech, a firm that provides CLO refinancing, data analytics, and electronic trading services, has launched direct trading among investors, according to a statement seen by Bloomberg. The platform saw its first trade between two investors last Thursday, Jill Scalisi, chief engagement officer, said in an interview.

Debt Advisors issued $339.18 CLO 2022-1 with innovative online AMR refinancing

June 22, 2022

Jefferies set the price on Wednesday for the $339.18 million ICG US CLO 2022-1 managed by ICG Debt Investors. The AMR refinancing feature was incorporated across the debt stack, including the fixed-rate tranches.

KopenTech in the Press