We understand your business, and have you covered from documentation to settlement

Online auction technology platform and communication interface developed by CLO investors for CLO investors

Applicable Margin Reset revolutionizes refinancing process by making it fast, easy and transparent

As market conditions change over the lifetime of a deal, it can be necessary to refinance liabilities. The traditional refinance process is almost like a new issue: talk to an underwriting bank, structure new securities, get rated by rating agencies and so on. Complicated, right? Traditional refinancing is cumbersome, expensive – and it can feel more like a chore. We know that feeling. That’s why we pioneered a completely new way to refinance structured products.

AMR takes 20 days from initiation to settlement.
You will no longer need to find a slot in the busy primary pipeline.

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Win-win for the entire CLO industry: Equity, Debt, CLO Manager and Dealer.

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Equity Holders

Lower refinancing costs virtually free of fixed expenses

Efficient process no longer than 20 days (no rating agency, counsel or underwriting involvement, indenture amendment or listing of notes)

Ability to finance different tranches at different times

Debt Holders

Margin Reserve Rate publicly available ahead of the auction

Transparent rule-based allocation protocol

Ability to place multiple bids at different margin rates

Broker Dealer

Higher refinancing deal-flow

No disintermediation: bids may only be placed through registered broker dealers

No underwriting commitment, low balance sheet consumption

Collateral Manager

Little time commitment, limited manager involvement required

No need to compete for a slot in busy dealer’s pipeline

Increased optionality, reduced risk, opportunity to earn performance fees