The European collateralized loan obligation (CLO) market experienced positive news last week, with two new deals announced. There also seems to be increased activity in the UK commercial real estate (CRE) sector, including plans to renovate Liverpool Street Station and the entrance of Rotana into the London market. In Northern Ireland, there is news of two major shopping centers up for sale.
Two new European CLOs priced in the past seven days, bringing the year-to-date figure to 23 deals, as per Trepp data. The first of these was Anchorage Capital Europe CLO 8, brought to market by Anchorage Capital Group. This is a €352 million vehicle with a non-call period of 1 year, a reinvestment period of 3 years, and a AAA spread of 195 basis points, which is slightly higher than pricing seen in European deals issued in April.
Volta Finance Ltd (LON:VTA) is a closed-ended limited liability company registered in Guernsey. Volta’s investment objectives are to seek to preserve capital across the credit cycle and to provide a stable stream of income to its Shareholders through dividends that it expects to distribute on a quarterly basis.