Managers who have been proactive in restructuring their seasoned deals whenever opportunities arise would be viewed favourably. Please refer to the table below for a full list of managers and the number of resets conducted on their seasoned BSL CLO deals from 2013 to 2021.
With the recent reset of OHA Credit Funding 5, Oak Hill Advisors has now completed its 11th reset across deals...
All things being equal, lower mezzanine tranche investors typically prefer to own deals with a higher probability of being reset.
Based on the number of resets and refinancing deals priced year-to-date (YTD), it is clear that resets remain the preferred option over refinancing.
The recent reset of Birch Grove CLO 2 has been accretive, reducing the weighted average cost of capital (WACC) by...
Managers who have been proactive in restructuring their seasoned deals whenever opportunities arise would be viewed favourably.
