Prospect defends CLO strategy after labour union's assault

Major CLO equity investor Prospect Capital tells Creditflux it stands by its CLO investment strategy

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TAGS: Prospect

Comment by: Anonymous. Posted 5 years ago [2014-03-29 22:25:04]

Hostility of Hospitality Workers (Union) Directed at Prospect Capital - here's my somewhat speculative analysis. Prospect owns either all or a controlling interest of Airmail through both debt and equity. The union wants to "organize" the employees of Airmail (which in the U.S. means convince a majority of employees to join the union and compel all employees to pay dues). The union appears to believe that trashing the ultimate employer (Prospect) will benefit its effort to woo employees. Maybe it's me, but I don't think the winning counterargument is to explain CLO equity call and liquidation rights ....