A recently published article in Opalesque featured Sancus Capital’s Olga Chernova: “The modified auction process is open to the broader market and can lead to better refinancing rates.”
James Vogl, KopenTech’s head of product development, explains how Applicable Margin Reset can help in an era of a dwindling CLO arbitrage. AMR is a streamlined method of CLO refinancing in the secondary market through the use of an auction process. It takes 1/3 the time of a traditional refinance and costs 75% less.
Anthony Schexnayder, KopenTech’s Head of Business Development will be the featured speaker at Creditflux West on June 20, in Santa Monica, CA. See the following press release for the details.
KopenTech is a featured speaker and panelist at the upcoming Creditflux West conference!
We are excited to announce that today BNP Paribas priced the $404.66 million Mountain View CLO XIV AMR for Seix Investment Advisors. This is the second new issue to utilize the Applicable Margin Reset feature.
Applicable Margin Reset (AMR) protocol, though untested as yet, is beginning to gather steam in the CLO industry. TCW Asset Management’s latest offering, TCW CLO 2019-1, is the latest to embed AMR in its documentation.
Traditional refinancing of collateralized loan obligations is costly, time-consuming and risky. Applicable Margin Reset (AMR) is a speedier, less expensive, more transparent option that mitigates operational and market risks.
CLO managers have firmly got to grips with US risk retention rules and, as a result, a massive $102.7 billion of CLOs priced globally during the second quarter of the year. Innovation is the hallmark of the evolution of the industry.
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