36% of US loans could be repriced amid rally, finds Nomura

Nomura calculates that about 36% of loans are eligible for a repricing. It bases this on the number of loans that are immediately callable, have near-term call risk or are a potential call risk if the loan market continues to rally

CLO 2020 outlook: lower volumes predicted, but it’s not all bad news
US CLO issuance is expected to drop by roughly 20% next year, according to bank research desks. This comes after a solid 2019 in which $101 billion of new US CLOs have priced through 92 managers, as Creditflux goes to press

CSO arrangers look to build on $65bn of issuance in 2019
The synthetic bespoke tranche market this year has fallen short of expectations in terms of overall issuance volume, but ends with transformative inroads being made.

US CLO league tables: CSAM pulls away from pack
The back and forth tussle between Octagon Credit Investors and Credit Suisse Asset Management for the lead in the US CLO issuance league tables took a new turn in November

CLO pipeline: DFG keeps its finger on the pulse
It will be a busy year-end for new issue CLOs in the US. DFG is returning with Pulsar II, using collateral sourced entirely from the secondary market

HPS and Nomura team up in first-time CLO partnership
HPS Investment Partners has teamed up with Nomura for the two firms' first CLO transaction as a partnership

NatWest brings in Nomura's head of credit trading in New York
NatWest Markets has announced the appointment of Michael Papa as head of its US investment grade credit trading and credit strategy.

SC Lowy hires Nomura trading head to drive European loan business
SC Lowy, the Hong Kong headquartered fixed income boutique, has hired Nomura's head loan trader in Europe

Equity investors eye resets as they focus on 2014 CLOs
US CLO resets will be favoured over refinancings this year, with equity investors keen to give CLO managers as much flexibility as possible to capitalise on a distressed wave — whenever it may arrive

Octagon prices 2019's first reset as Nomura begins to fulfil CLO promise
Octagon Credit Investors has teamed up with Nomura to reset 2014’s Octagon Investment Partners XXI for five years additional reinvestment

Octagon and Nomura look to open 2019 CLO reset market
Octagon Credit Investors has emerged as the first manager to attempt a CLO reset in 2019

Lifelong CLO trader joins Nomura as head of US CLO origination
One of the most experienced names in US CLO trading has joined Nomura to lead its new issue business, sources say

Ex-Citi CDO trading chief joins Jefferies as head of European fixed income
Jefferies has appointed a former Citi European credit and pre-crisis CDO trading head to lead its European fixed income business

Dealers show appetite to retain tranches amid CSO growth
There are increasing numbers of dealers involved in the CSO market and their approach to issuing bespokes is evolving, attendees at Creditflux’s Credit Dimensions conference heard last month.

Weighted average life divides CLO industry
Creditflux’s second CLO Census reveals stark differences of opinion on weighted average life and par-flush for US CLOs. But there is a clear consensus on which bank is best at CLO execution

High profile figure in SRT market leaves Nomura in London
A well known figure in the significant risk transfer (SRT) space has parted company with Nomura in London, sources say.

Experienced CLO specialist joins Pretium
Pretium Partners moved into CLO management a year ago and now has $2 billion in AUM in this space thanks to a couple of acquisitions. It has now hired a portfolio manager to deal with the additional AUM

BlueMountain appoints four portfolio managers
New York-based BlueMountain Capital Management has hired four portfolio managers to bolster its global governments and agency mortgages strategy 

OFS markets first new issue CLO of 2018 via Nomura
OFS CLO management is marketing its first new issue CLO of the year

US CLO manager hires Nomura to launch its first deal of 2018
A boutique CLO manager is looking to issue a dual-compliant CLO, sources say 

HSBC's high yield trading head rumoured to be joining rival bank in London
HSBC’s head of high yield trading is understood to have left the firm and is rumoured to be joining a rival bank

Nomura and Investec report 48% gender pay gap
With the deadline for UK companies to publish their gender pay gap reports looming at midnight tonight, a slew of asset management firms have filed reports showing male employees are paid up to 49% more than their female counterparts

There's a second CLO refi-reset wave on its way, conference hears
At the annual SFIG Vegas ABS conference, one hot topic of focus was the consequences of a move away from US CLO risk retention

Nomura grabs leverage finance specialist in senior appointment in Hong Kong
Nomura has appointed an experienced debt specialist as managing director and head of debt capital markets for Asia (excluding Japan), according to an internal memo seen by Creditflux

Experienced European credit trader joins Nomura in senior role
A high-profile credit trader has joined Nomura after a brief stint at Citi