News - KopenTech

Jefferies prices $409M Zais 2021-17 CLO with AMR across the stack

September 02, 2021

ZAIS Group issued its first CLO since September 2020, ZAIS 2021-17, priced by Jefferies and incorporated an auction-based online refinancing feature, called Applicable Margin Reset (AMR). It is the 16th CLO to implement AMR refinancing and brings the total AMR AUM to over $6.8 Bn.

TCW resets their twice AMR-refinanced 2019 CLO

August 10, 2021

TCW closed a reset of their vintage $406MM TCW CLO 2019-1 AMR CLO, extending the reinvestment period to August 2026 and its non-call to November 2023. The CLO refinanced two times via AMR, first in January 2020 and the second time in January 2021.

KopenTech appoints Jill Scalisi as Chief Engagement Officer

August 03, 2021

KopenTech is excited to announce the addition of Jill Scalisi to the executive team. Jill brings over 20 years of experience developing new products and overseeing sales. Read the full press release.

Trimaran's Catamaran CLO 2014-1 AMR refinancing marks the largest secondary trade in CLO history

June 29, 2021

$466.5 MM Catamaran CLO 2014-1 made history on June 23 when its $429.5 MM AAA tranche printed, marking the largest successful secondary CLO BWIC. The refi lowered Catamaran's weighted average cost of debt by 17 bp, with the cost of debt for the A-1A/AAA tranche being reduced from L+126 to L+110.

HalseyPoint CLO 4 marks 15th AMR transaction

June 28, 2021

HalseyPoint Asset Management embedded the AMR feature into their $405.3M HalseyPoint CLO 4 vehicle. With HalseyPoint closing on June 29th, total CLO volume with the AMR mechanism now exceeds $6.4B.

Trysail CLO 2021-1 becomes 14th deal to utilize online AMR refinancing

June 24, 2021

Sancus Capital’s $307.6M Trysail CLO 2021-1 is the 14th CLO to utilize KopenTech’s online AMR refinancing feature. The Trysail deal closed on June 24th, bringing AMR AUM volume to $6.0B.

Catamaran CLO 2014-1 utilizes online AMR auction in largest-ever refinancing

June 23, 2021

Trimaran Advisors successfully refinanced the $466.5 MM Catamaran CLO 2014-1 on June 23, making history with the largest secondary AAA tranche print since 2014. The A-1A/AAA tranche cleared at L+110.

KopenTech's LiveBidding protocol gets spotlight on The Last Tranche podcast

May 18, 2021

KopenTech's 2-stage LiveBidding CLO trading protocol receives investor praise on Episode 5 of the Last Tranche, hosted by Hugh Minch of Creditflux with Olga Chernova of Sancus. The episode talks about inefficiencies in the CLO market and the electronification of the industry.

KopenTech in the Press