July CLO market: $10B in U.S. issuance, and counting …

global CLO volume
Issuance in the U.S. CLO market continued apace last week, even with August right around the corner. Four new-issue deals priced, totaling some $2.21 billion, with more expected this week. With no new deals pricing in Europe, global CLO issuance year to date stands at $80.6 billion.

This chart is part of a longer LCD analytical story, available to LCD News subscribers. It includes charts detailing U.S. arbitrage CLO issuance vs. U.S. institutional loan volume, the U.S. CLO deal pipeline for what’s left of July, a European CLO deal pipeline, and European arbitrage CLO issuance vs. European institutional loan volume.


Bain Capital’s Sankaty Advisors buys $1.3B loan portfolio from J.P. Morgan

sankaty-advisors-85365040Sankaty Advisors, the credit investment firm affiliated with Bain Capital, announced plans to buy a loan portfolio from J.P. Morgan’s Global Special Opportunities Group for $1.3 billion.

The Hong Kong-based business comprises mezzanine loans in North America and Europe, as well as loans and related special situations investments in Australia and Asia.

Sankaty Advisors recently purchased loan portfolios from Irish Bank Resolution Capital, Lloyds Banking Group, and CapitalSource.

The transaction is expected to close by year-end.

Sankaty invests in leveraged loans, high-yield bonds, distressed and stressed debt, mezzanine debt, structured products, and equities. –Abby Latour

Follow Abby on Twitter @abbynyhk for middle-market deals, leveraged M&A, distressed debt, private equity, and more



SunTrust Robinson Humphrey hires four in leveraged finance group: Caldwell, Psarris, Simon, Holbrook

suntrust logoSunTrust Robinson Humphrey hired four for its syndicated and leveraged finance team, who will be reporting to Chris Wood.

Ron Caldwell will become head of healthcare syndicated and leveraged finance. He joins as a managing director with his most recent 14 years of experience at Bank of America Merrill Lynch, where he originated leveraged loan, bridge and high-yield transactions backing corporate and sponsor clients across healthcare.

Akis Psarris also joined as a managing director, and will head liability management. He joins from Lloyds Bank where he was managing director in debt capital markets. He had been managing director at J.P. Morgan for 11 years in its U.S. debt capital markets group.

Two others, Ricardo Simon and Matt Holbrook, join as directors.

Simon will head commercial real estate and REIT syndicated finance in his new role. He had been a director in the real estate syndicated finance group at Wells Fargo, where he worked with clients who required debt financing for recapitalizations, project loans and mergers and acquisitions.

Holbrook joins the group with 10 years of experience at Bank of America Merrill Lynch’s Leveraged Finance team in Charlotte, where he was most recently responsible for originating and structuring debt financings for consumer and retail clients. – Abby Latour

Follow Abby on Twitter @abbynyhk for middle-market deals, leveraged M&A, distressed debt, private equity, and more