KopenTech in the Press
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.
Olga Chernova, is founder and CIO of Sancus Capital, a long short credit manager and one of the leading female figures in the credit space.
On September 1, 2016, the SEC issued a no-action letter to Sancus Capital Management LP clarifying that a proposed "applicable margin reset" mechanism built into certain notes issued in a CLO transaction would not constitute an offer and sale of asset-backed securities by an issuing entity within the meaning of Regulation RR (17 C.F.R. Part 246).
The staff of the Division of Corporate Finance of the U.S. Securities and Exchange Commission issued an interpretive letter to Sancus Capital Management LP and its affiliates in response to a letter from Dechert LLP on behalf of Sancus Capital on September 1, 2016.
The SEC releases a no action letter allowing Applicable Margin Reset transactions to take place in the CLO market.