clo – Page 5 – KopenTech Blog

01/13/2022

HalseyPoint CLO II AMR Refinancing

KopenTech is pleased to announce the successful refinancing of HalseyPoint CLO II, managed by HalseyPoint Asset Management, via an AMR auction held on January 12, 2022. AMR, Applicable Margin Reset, is an electronic multi-dealer auction for refinancing CLO debt tranches....

Online Refinancing (AMR)

12/29/2021

KopenTech Year End CLO Review

Primary issuance skyrockets in 2021 2021 top ten Issuers and Arrangers New Issue AAA Spreads:Reinvestment end > 3 years TRACE volume of $140 Bn falls short of 2020 record Most liquid tranches: BBs with 17% and BBBs with 14% of...

Electronic Trading

12/15/2021

Opal CLO Summit Takeaways

At the Opal CLO Summit, KopenTech participated in several panels. Here are our takeaways from the conference: Strong issuance is likely to continue Amid strong primary issuance, CLO volumes outstanding topped $1 trillion in 2021. After a two-year hiatus, the...

Conferences/Electronic Trading

12/06/2021

CLO Secondary Market Trends: November 2021 Edition

BWIC Volumes November had a total of $4.3 billion listed on BWICs. This was the highest monthly volume for 2021, which brings the total 2021 YTD BWIC volume to $28.6 billion listed. The average volumes for the last 12 months...

CLO Market Trends/Electronic Trading

06/23/2021

AMR Refinancing Results: Catamaran CLO 2014-1

KopenTech is pleased to announce the successful refinancing of Catamaran CLO 2014-1 LTD., managed by Trimaran Advisors, via an AMR auction on June 23, 2021. The auction featured the largest CLO transaction to ever be refinanced on the AMR platform,...

Online Refinancing (AMR)

01/29/2021

AMR Refinancing Results: TCW CLO 2019-1

KopenTech is pleased to announce the successful refinancing of TCW CLO 2019-1 via an AMR auction. Classes A through C, $330 million in aggregate, cleared below the cap margins, the maximum acceptable spread level. Over $800 million in bids were...

Online Refinancing (AMR)

01/18/2021

AMR Refinancing Results: Mountain View CLO XIV

On January 14, 2021, KopenTech held an online refinancing AMR auction for Seix’s Mountain View CLO XIV. Classes A1 through D totaling $348 million all cleared below the cap margin. The maximum acceptable spread level. Over $1.3 billion in bids...

Online Refinancing (AMR)

12/24/2020

AMR: First Auction Results

KopenTech conducted the first Applicable Margin Reset (AMR) refinancing auction on January 30, 2020 for TCW CLO 2019-1. The AMR procedure, a low-cost alternative to traditional refinancing through an arranging bank, consists of a secondary auction process in which broker-dealers...

Online Refinancing (AMR)

12/01/2020

AMR Investor Guide. Auction-based, multi-dealer electronic CLO refinancing: Applicable Margin Reset (AMR).

A More Efficient Process for Refinancing CLOs Updated December 2020 Applicable Margin Reset (AMR) was developed in 2015 by alternative asset manager Sancus Capital Management to find a solution to risk retention and to streamline CLO refinancing. AMR differs from...

Online Refinancing (AMR)

Tag: clo

HalseyPoint CLO II AMR Refinancing

KopenTech Year End CLO Review

Opal CLO Summit Takeaways

CLO Secondary Market Trends: November 2021 Edition

AMR Refinancing Results: Catamaran CLO 2014-1

AMR Refinancing Results: TCW CLO 2019-1

AMR Refinancing Results: Mountain View CLO XIV

AMR: First Auction Results

AMR Investor Guide. Auction-based, multi-dealer electronic CLO refinancing: Applicable Margin Reset (AMR).