BNY Mellon’s role in a first of its kind CLO transaction known as Applicable Margin Reset was announced today by MUFG Securities Americas
Managers are considering embedding a new repricing feature in US Collateralized Loan Obligation funds that would protect firms from regulation that requires them to hold 5% of their funds and save money on full refinancings.
CLO managers are lining up to implement applicable margin reset (AMR) language into their deals after Crescent Capital’s Atlas Senior Secured Loan Fund VIII was the first CLO to incorporate this feature.
Crescent Capital Group last week priced its latest broadly syndicated CLO. The US$413.7m Atlas Senior Secured Loan Fund VIII debuts an applicable margin reset (AMR) feature.
Crescent Capital Group priced the first CLO giving equity holders the option to reprice liabilities lower after the non-call period.
Mitsubishi UFJ Securities priced a first-of-its-kind US CLO late on Friday with the bank embedding the much talked about applicable margin reset (AMR) option into a deal managed by Crescent Capital.
Crescent Capital and Sancus Capital team up to launch AMR for new CLO.
MUFG Securities Americas today priced a $413.7 million CLO managed by Crescent Capital Group LP, according to market sources. This is the manager's first new issue of the year.
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