TITLE

Highland Exits European CLO Business

AUTHOR(S)
Clouse, Carol J.
PUB. DATE
February 2011
SOURCE
High Yield Report;2/28/2011, Vol. 22 Issue 9, p20
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
This article reports on the exit of Highland Capital Management from the European collateralized loan obligation (CLO) market. According to Bloomberg, four CLOs rated by Standard & Poor's in Europe with an initial total size of 2.46 billion euros were raised by Highland. Morgan Stanley points out that 90% of U.S. CLOs are in compliance with the terms of their agreements compared with Europe's 55%. There are concerns among European loan market participants over Article 122a of the Capital Requirements Directive.
ACCESSION #
59152507

 

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